Talk:Hyderabadi rupee
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Contradiction
editHyderabad continued to issue its own currency until 1948, when the state was absorbed into India. The Hyderabad rupee was replaced by the Indian rupee at a rate of 7 Hyderabad rupees = 6 Indian rupees. Hyderabadi banknotes were issued until 1953, albeit, when the state was under Indian administration
This sentence I believe is in contradiction. Either the H. rupee was replaced in 1948 or 1953 not both. Enlil Ninlil 05:03, 23 January 2007 (UTC)
The sentence above is not a contradiction. When the Hyderabad State was annexed to India in 1948, currency was not a priority as bigger issues like Security, Civil Administration, Amenities, etc. needed to be looked into. Also, a sudden shift in currency would have confused the entire economy of the state. This change was carried out gradually. The Rupee 1 banknotes continued to be issued, but they were signed by representatives of the new administration (namely, DR Pradhan, CVS Rao and GS Melkote). Hyderabad Government (under India) issued, on 25th January 1950, the Indian Currency (Legal Tender) Regulation, 1359 Fasli, in terms of which, effective 26th January 1950, the date on which Hyderabad acceded to the Indian Union, all coins and currency notes which were legal tender in India became legal tender in the State of Hyderabad too. The Hyderabad rupee (of the Nizams) continued to be legal tender and arrangements were made for its conversion into India notes and coin at the rate of Haali Sicca (Hyderabad Rupee) Rs. 116-10-8 for India Rs. 100 (Exact 7:6 ratio). Effective 1st April 1951, the Indian Coinage Act, 1906 and the Currency Ordinance 1940 were extended to the Hyderabad State under the Part B States (Laws) Act, 1951, and the corresponding State laws (the Hyderabad Currency Ordinance and the Hyderabad Currency Act) were repealed. With effect from 1st April 1955, Haali Sicca currency ceased to be legal tender. Ultimate demonetization of the Haali Sicca was effective from 1st April 1959 and the public were permitted time till 30th June 1959 to exchange it against Indian currency at the State Bank of Hyderabad (formerly the Hyderabad State Bank). Amarbir Singh 21:10, 13 March 2013 (IST)
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