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Thursday, 8 October 2015

217) Currency & Coinage of the Islamic Republic of Pakistan: Rupee and Paise:



217) Currency & Coinage of the Islamic Republic of Pakistan: Rupee and Paise:

The Pakistani Rupee (also referred to as Rupaya” or “Rupaye”, in plural), is the official currency of Pakistan, subdivided into 100 paise.

The word “Rupiya” is derived from the Sanskrit word “rupya” meaning “wrought silver or a coin of silver”. The term Rupaya was first used by Sher Shah Suri to denote silver coins during his reign from 1540 to 1545 AD.

Historical development of  Pakistan currency/coinage:

The territory which now comprises Pakistan was ruled at various points of time by the:

Parthians (12-130 AD):

The Gondopharid dynasty (the term coming from the title “Gondophares” – meaning “Holder of Glory”) and other Indo-Parthian rulers were a group of ancient Kings from Central Asia, who ruled present day Afghanistan, Pakistan and North-Western India during this period. For most of their rule, the Gondophanid Kings held Taxila, (in present day Province of Punjab in Pakistan) as their administrative capital, but later shifted their capital between Kabul and Peshawar. Their coinage was greatly inspired by the Arsacid dynasty and they belonged to groups of Iranian tribes who lived around Parthia.


A Coin depicting the head of Gondophares, Founder of the Indo-Parthian kingdom.


                         Coins of the Indo-Parthian King Abdagases

Kushans (30-375 AD),

The Kushan Empire was founded by Yuezhi in the Greco-Bactrian territories. The Kushans were one of the five branches of the Yuezhi Confederation. The territories ruled by this dynasty included much of Afghanistan, present day Peshawar in Pakistan, Northern parts of the Indian sub-continent all the way up to Sarnath in Varanasi.

Kanishka the Great expanded his Kingdom North of the Karakoram mountains capturing vast areas of China, including Xinjiang. He had diplomatic contacts with the Roman Empire, Sassanid Persia, Aksumite Empire and Han Dynasty in China. The Kushans were very tolerant religiously and their subjects practiced several religions – Buddhism, Hinduism, Shamanism, Zoroastrianism, Manichaeism and various Bactrian – Indian religions.
 Gold coin showing Oesho or Shiva with his ride – Nandi the sacred Bull




Gold coin of Kanishka the Great with a depiction of the Buddha and the legend “BODDO” in Greek language.

Sassanians (224-641 AD):

The Sassanian Empire or Sassanid or Neo-Persian Empire founded by Ardashir I was the last Iranian Empire before the rise of Islam from 224 – 651 AD. It succeeded the Parthian Empire and was recognised as one of the leading world powers alongside its rival, the Roman Byzantine Empire. At its height, it encompassed all of present day Iran, Iraq, Eastern Arabia (Bahrain, Kuwait, Oman, Qatif, Qatar, UAE) , the Levant (Syria, Lebanon, Israel, Jordan), the Caucasus (Armenia, Georgia, Azerbaijan, Dagestan, South Ossetia, Abkhazia), Egypt, Turkey, and Central Asia (Afghanistan, Turkmenistan, Uzbekistan, Tajikistan), Yemen and Pakistan.

The Sasanians introduced Islam in these territories and struck coins at Lahore derived from Afghan coinage of this period.

Indo-Sassanians(240-410 AD):

The Sassanian Empire after conquering Iran, Iraq & neighbouring regions expanded eastwards and forced the hitherto autonomous western Kushans (Afghanistan & Pakistan) to accept their suzerainty while the Eastern Kushans retained their control of India.
 Coin of the Indo-Sassanid Kushansha Varhran I (early 4th century), depicting King Varhran I on the Obverse and the Hindu god Shiva seated on the Bull Nandi on the Reverse.

Hephthalites (420-567 AD):

In the fifth century the White Huns (also called the”Hephthalites”,  “Ephthalites”, “Yanda”, “Yediyiliduo”, “Ye-Tai” or the “White Huns” – in Sanskrit, they were called the “Sveta Huns”) who were a nomadic Confederation in Central Asia who expanded their rule westward in the fifth century. At the height of their power in the first half of the 6th century, the Hephthalite Empire controlled territories in present day Afghanistan, Turkmenistan, Uzbekistan, Tajikistan, Kyrgyzstan, Kazakhstan, Pakistan, India and China. The Huns struck silver coins during their rule depicting several designs inspired by the Gupta Empire.
 A Hephthalite coin of King Khingila with the 5th century legend “Khiggilo Alchono”


A Hephthalite silver coin minted in the style of the Gupta period horse type coin from the 5th century . The Guptas ruled parts of present day Pakistan around the same period as the White Huns.

A Hun coin styled in the pattern of a Sassanian style coin from the 5th century

Rai dynasty (489-632 AD),

Umayyad Caliphate (661 – 750 AD),

Pala Dynasty (770 – 850 AD),

Ghaznavids (963-1187 AD):

(The Ghaznavid dynasty founded by Sabuktigin was a Persianate Muslim dynasty of Turkic Mamluk origin. His son Mahmud of Ghazni expanded the Ghaznavid Empire to the Amu Darya, the Indus River and the Indian Ocean in the east and to Rey and Hamadan in the west. At the height of their glory, they ruled large parts of Iran, much of Transoxiana and North India from 977-1186 AD). 
 Coins of Masud I of Ghazni with inscriptions in Arabic struck around 1030 AD.

Mamluk Dynasty (1206-1290 AD):

 Still later the “Mamluks” (meaning “property” or “owned slaves”) and the various later dynasties going by the combined name of the Delhi Sultanate which we were taught to remember the order of the Delhi Sultanate Dynasties through the following sentence “Slaves Kindly Treated Serve Longer” (the Slave Dynasty was established in 1206 in the Indian sub-continent by the Mamluk commander Qutb-ud-din Aibak who proclaimed himself Sultan. (This dynasty lasted from 1206-1290).
It was followed by the Khilji Dynasty (1290-1320), Tughlaq Dynasty (1320-1413), Sayyid dynasty (1414-1451), Lodi Dynasty (1451 – 1526),

Under Sher Shah (1539-1545) there was a profuse issue of large silver coins bearing the “Kalama” (the “Islamic Confession of Faith”) and the names of the Four Caliphs. 
                     Silver Rupiah of Sher Shah Suri

Mughal Empire (1526-1858):

Later, the Mughals ruled these territories. During their rule, Multan was a prominent mint from the 16th to late 18th century.

The Mughal Emperor Jahangir was reputed to be the most charitable of all the Mughal Emperors and minted the most memorable Gold & silver coins of the Mughal dynasty.

It is said that whenever the Emperor went on a tour of his Empire, a mobile Mint used to accompany him, minting Gold and Silver coins which were given out to the needy and poor subjects as alms, from the Emperor’s open carriage by Jahangir himself.

The coins minted during his time had new designs, sizes and weights and Jahangir’s Gold coins are among the most splendid in their artistic calligraphy as well as their artistic calligraphy.

In 1613, Jahangir commissioned the production at Agra of five gold coins with a value of 1000 mohurs each. These coins had a diameter of 20.30 mm or 8 inches and weighed over 12 Kg or 26 Pounds each.

These coins were presented to various foreign ambassadors. Gold 500 mohurs are mentioned in Jahangir’s autobiography also.



         A 100 Mohur Gold coin of Mughal Emperor Jahangir
In 1639, a 100 mohur coin struck in Gold by Jahangir  had a diameter of 97 mm or 3.8 inches and weighed 1.94 kg or 2.4 gms.

Jahangir also authorised a Series of coins featuring the signs of the Zodiac.


An image of a silver rupee depicting the sign of Leo on the Obverse.

Later, the Mughal Emperor Aurangzeb,  replaced the “Islamic Confession of Faith”, with the name of the issuing mint and the date of issue and this style prevailed till end of the Mughal rule.

(The Shanghai Museum is a treasure trove of ancient Indian, Chinese and Islamic Coinage. For more on this aspect, please click: here.)

Bombay Presidency (1618-1947),

 Maratha Empire (1758-1760),

Sikh Empire (1799-1849):

In the mid-18th century, Punjab was conquered by the Sikhs, who minted silver rupees at the Mint in Lahore until the mid-19th century whereafter these territories were occupied by the British India Raj.

 British India Empire (1849-1947),

 Dominion of Pakistan (1947-1956),

Islamic Republic of Pakistan (1956-present):

In 1947, India was partitioned into two nations – India and Pakistan.

Both countries got their freedom from British Rule in 1947. In the same year British Indian Banknotes and coins were used by the Government of Pakistan over-stamped “Government of Pakistan”.

In 1948, new coins inscribed “Government of Pakistan” were issued with a “tughra” or crescent and star motifs. Also Banknotes were issued by Pakistan in the same year.

In 1956, Pakistan was declared the “Islamic Republic of Pakistan”. Initially the coins continued to be struck in the old patterns.

(Pakistan was the first country to adopt the term “Islamic” to modify its Republican status under its otherwise secular constitution in 1956. Nevertheless, Islam as a State Religion was not proclaimed until 1973, when a new constitution – which was more democratic and less secular – was adopted.  Under this Constitution, Pakistan adopted Islamic laws as the State Laws in conjunction with the injunctions as laid down in the Quran and Sunnah.

After Pakistan, some other countries which adopted the term “Islamic Republic” are – Afghanistan, Iran and Mauritania).

Although Pakistan has been under Military rule off and on, punctuated by periods of Parliamentary democracy, presently it is governed by Parliamentary democracy. Nevertheless, the Pakistan military de facto continues to play a major role in the country’s domestic and foreign policies.

State Bank of Pakistan:

Prior to Pakistan gaining Independence from British Rule on 14.08.1947, the Reserve Bank of India was the Central Bank for both India and Pakistan.

In 1948, the State Bank of Pakistan which is the Central Bank of the country was established.

On 30.12.1948, the Reserve Bank of India’s assets/reserves were distributed between India and Pakistan in the ratio of 70 – 30 respectively.

The State Bank of Pakistan Act 1956, with subsequent amendments lays down the basis of the Bank’s Operations today. The Headquarters of the Bank is located at Karachi with its subsidiary Headquarters being situated in Islamabad.

Among its other Central Banking functions, the State Bank of Pakistan oversees the issue of currency notes above the denomination of Two Rupees (issuing currency of one Rupee was a Government of Pakistan function) and the issue of coinage.

Pakistani Coinage:

Coinage of the Islamic Republic of Pakistan:

In 1948, coins were introduced by the Government of Pakistan in the denominations of 1 Pice, ½, 1 and 2 Annas, i/4, ½ and 1 Rupee.

In 1951, 1 pie coins were circulated.

In 1961, Pakistan adopted the Decimal system, when the earlier rupee of 16 Annas was changed to a Rupee of 100 Paise. Consequently, 1, 5 and 10 pice coins were issued followed by coins in the denominations of 1, 5,  10 paise and 25 paise coins were minted.



Obverse of a 10 Paise coin issued in 1962, showing the emblem of Pakistan. On the upper periphery is the inscription “GOVERNMENT OF PAKISTAN” below which is a “tughra”. This coin from my collection was minted in 1962 and is one of the first few coins to be minted under the Decimal coinage in the 10 Paise category.



(Tughra: A Tughra is a calligraphic monogram, seal or signature of a Sultan that was affixed to all official documents and correspondence. The Tughra was designed at the beginning of the Sultan’s reign and drawn by the court calligrapher or “nishanchi” on written documents. A Tughra was similar to the “cartouche” in ancient Egypt or the “Royal Cypher” of the British monarchs.

Parts/Sections of a Tughra:

Sere: the name of the sultan is written at the bottom (In this case it is the “Government of Pakistan”).

Beyze: The loops to the left of the Tughra are called “beyze”, meaning egg representing the maritime power across seas.

Tug: is the Flagstaff.

Zulfie: are the “S” shaped lines crossing the tugs, they signify the winds blowing from East to West.

Hangcer: signifies a sword, which is a symbolof power and might).
 Reverse of the above 10 Paise coin showing the year of issue as 1962. The denomination of the coin is mentioned in three languages – “10 PAISE” (in English), “Dash Poisha” (in Bengali) and “10 Paise” (in Urdu). At this time, East Bengal (present day Bangla Desh) was a part of Pakistan as “East Pakistan”. Notice the beautiful flower and leaf art-work on this coin. This design of coins was issued from 1961 to 1963.

In 1964, the inscriptions in English were dropped. 2 Paise coins were circulated.

Since 1976, a few 50 paise or rupee coins were issued primarily to commemorate the anniversaries of Mohammed Ali Jinnah, the founder of the State of Pakistan.

Also, in the same year, a set of 3 coins were issued in gold and silver to promote wildlife conservation.

In 1979, one Rupee coins were reintroduced.

In 1981, the 1400th Anniversary of the Hegira coins were issued.

In 1998, 2 Rupee coins were introduced.

In 2002, 5 Rupee coins were circulated.

2 Paise coins were last minted in 1976 while the 1 Paisa coins were last minted in 1979.

Since 1996, coins denominated in paise have ceased to be issued owing to inflationary pressures.

All paise denominated coins ceased to be legal tender from 2013 onwards.

In 2007, the metal composition of 1 and 2 Rupee coins was changed to Aluminium.

Presently the following denominations of coins are in circulation:

On the Obverse of the One Rupee coin is depicted Quaid – Azam, Muhammad Ali Jinnah.

On the Reverse of the One Rupee coin is depicted the Hazrat Bal Shah Kalandar Mausoleum, Sehwan Shareef.

The specifications of this coin are:

Metal composition: Bronze-Aluminium; Size: 20.00 mm diameter; Weight: 4.00 gms; Colour: Brownish; In circulation from: 08.09.1998 onwards.

On the Obverse of the Two Rupees coin is depicted a Crescent and a Star.

On the Reverse of the Two Rupees coin is depicted the Badshahi Masjid, Lahore.

The specifications of this coin are:

Metal composition: Brass-Aluminium; Size: 22.50 mm diameter; Weight: 5.00 gms; Colour: Yellowish; In circulation from: 08.09.1998 onwards.

On the Obverse of the Five Rupees coin is depicted a Crescent and a Star.

On the Reverse of the Two Rupees coin is depicted the denomination of the coin with the numeral “5”.

Metal composition: Cupro-Nickel; Size: 24.00 mm diameter; Weight: 6.50 gms; Colour: White; In circulation from: 26.12.2002 onwards.

Banknotes of the Islamic Republic of Pakistan:

On 01.04.1948, provisional Banknotes were issued by the Reserve Bank of India and the Government of India on behalf of the Government of Pakistan, for circulation in Pakistan. These Banknotes were printed by the India Security Press at Nasik and were engraved with the legend “GOVERNMENT OF PAKISTAN” in English and “HUKUMAT-e-PAKISTAN” in Urdu printed on the top and bottom on the Front of the Banknotes. The signatures on these Banknotes were those of Indian Banking and Finance officials. These Banknotes were not legal tender in India.

Later, in 1948, regular Banknote printing commenced in the denominations of 1, 5, 10 and 100 Rupees.

From 1948 to 1980, 1 Rupee Banknotes were issued by the Government, while the other denominations (2, 5, 10 and 100 Rupees) were issued by the State Bank of Pakistan from 1953 onwards.

In 1957, 50 Rupees Banknotes were circulated.

Until 1977, Banknotes were bilingual showing Bengali translations of the Urdu texts printed on the Banknotes. In East Pakistan (formerly East Bengal and present day Bangla Desh), Rupee denominations were more popular as “Taka”.

In1985, 2 Rupees Banknotes were re-introduced.

In 1986, 500 Rupees Banknotes were circulated.

In 1987, 1000 Rupees Banknotes were introduced.

In 1998, 2 Rupees Banknotes were replaced by coins of the same denomination.

In 2002, 5 rupees Banknotes were replaced by coins of the same denomination.

In 2005, 20 rupees Banknotes were introduced.

In 2006, Banknotes of 5000 Rupees denominations were circulated.

Common features on all Banknote issues:

-      On the Front, all Banknotes except Rs.1 and 2 denominations, featured a portrait of Mohammad ali Jinnah.

-      On the Back of various Banknotes is a text in Urdu “Hasool-e-Rizq-e-Halal Ibaadat hai” (meaning “Seeking honest livelihood is the worship of God”.

-      The Banknotes vary in size and colour, with the larger denominations being bigger. All banknotes are multi-coloured with one predominant colour.

-      All Banknotes have a Security watermark – on the smaller Banknotes, the watermark is that of a Crescent and a Star, while the higher denomination Banknotes bear a watermark of the picture of Muhammad Ali Jinnah.

-      Different types of Security threads are also provided in every Banknote.

Banknotes issued prior to the 2005 Series:

The Back of the One Rupee Banknote depicted the Tomb of Muhammad Iqbal in Lahore.

The size of this Banknote was 95 mm x 66 mm and its predominant colour was Brown.

This Banknote is no longer in circulation and has been replaced by one Rupee coins since 1998.
 The Front of a Two Rupees Banknote, showing the Crescent and Star Emblem of Pakistan

The Back of the Two Rupees Banknote depicted the Badshahi Masjid in Lahore.

The size of this Banknote was 109 mm x 66 mm and its predominant colour was purple.

This Banknote is no longer in circulation and has been replaced by Two Rupees coins since 1998.
 The Front of a Five Rupees Banknote showing the portrait of Muhammad Ali Jinnah.
          The Back of the above Five Rupees Banknote
The Back of the Five Rupees Banknote depicted the Khojak Tunnel in Baluchistan.

The size of this Banknote was 127 mm x 73 mm and its predominant colour was Burgundy.

This Banknote is no longer in circulation and has been replaced by Five Rupees coins since 2002.
  The Front of a Ten Rupees Banknote showing the portrait of Muhammad Ali Jinnah.
             The Back of the above Ten Rupees Banknote.

The Back of the Ten Rupees Banknote depicts a Vignette of a view of Mohanjodaro in Larkana district.

The size of this Banknote was 141 mm x 73 mm and its predominant colour is Green.

This Banknote was first issued on 12.07.1976, but is no longer being printed, however it is still in circulation.

The Back of the Fifty Rupees Banknote depicts the Alamgiri Gate of the Lahore Fort in Lahore.

The size of this Banknote was 154 mm x 73 mm and its predominant colours are purple and red.

This Banknote was first issued on 29.12.1977, but is no longer being printed, however it is still in circulation.

The Back of the Hundred Rupees Banknote depicts the Islamia College in Peshawar.

The size of this Banknote was 165 mm x 73 mm and its predominant colours are red and orange.

This Banknote was first issued on 12.07.1976, but is no longer being printed, however it is still in circulation.

The Back of the Five Hundred Rupees Banknote depicts the State Bank of Pakistan building in Islamabad.

The size of this Banknote was 175 mm x 73 mm and its predominant colours were green, tan, red and orange.

This Banknote was first issued on 01.04.1986, however it is no longer in circulation.

The Back of the One Thousand Rupees Banknote depicts the tomb of Jahangir in Lahore.

(The tomb of Jahangir is a mausoleum built for Jahangir, the Mughal Emperor from 1605 to 1627 is located in Shahdara Bagh in Lahore, Punjab, Pakistan).

The size of this Banknote was 175 mm x 73 mm and its predominant colour is Royal blue.

This Banknote was first issued on 18.07.1987, but is no longer being printed, however it is still in circulation.

The 2005 Series of Banknotes:

On the Front of all these denominations of Banknotes is the portrait of Muhammad Ali Jinnah.
The Front of a 5 Rupees Banknote issued in 2008, showing the portrait of Muhammad Ali Jinnah
    The Back of the above 5 Rupees Banknote

The Back of the Five Rupees Banknote depicts the Gwadar Sea Port in Baluchistan (which is a mega project).

The size of this Banknote was 115 mm x 65 mm and its predominant colour is Greenish Grey.

This Banknote was put into circulation from 08.07.2012 and withdrawn from circulation on 31.12.2012.

The Back of the Ten Rupees Banknote depicts the Bab ul Khyber) which is the entrance to the Khyber Pass, Khyber agency, FATA).

The size of this Banknote was 115 mm x 65 mm and its predominant colour is Greenish Grey.

This Banknote was put into circulation on 27.05.2006 and is presently legal tender.

The Back of the Twenty Rupees Banknote depicts Mohanjodaro in Larkana district.

 The size of this Banknote was 123 mm x 65 mm and its predominant colour is Orange Green.

This Banknote was put into circulation on 22.03.2008 and is presently legal tender.
 The Front of a 50 Rupees Banknote issued in 2013, showing the portrait of Muhammad Ali Jinnah
                 The Back of the above 50 Rupees Banknote

The Back of the Fifty Rupees Banknote depicts Mount K2, (which is the second highest mountain in the World and is situated in the Northern area of Pakistan).

 The size of this Banknote was 131 mm x 65 mm and its predominant colour is purple.

This Banknote was put into circulation on 08.07.2008 and is presently legal tender.
 The Front of a 100 Rupees Banknote issued in 2012, showing the portrait of Muhammad Ali Jinnah
           The Back of the above 100 Rupees Banknote

The Back of the Hundred Rupees Banknote depicts Muhammad ali Jinnah’s residence in Ziarat.

The size of this Banknote was 139 mm x 65 mm and its predominant colour is red.

This Banknote was put into circulation on 11.11.2006 and is presently legal tender.

The Back of the Five Hundred Rupees Banknote depicts the Badshahi Masjid in Lahore.

The size of this Banknote was 147 mm x 65 mm and its predominant colour is rich deep green.

This Banknote was put into circulation on 11.11.2006 and is presently legal tender.

     The Front of a 1000 Rupees Banknote issued in 2014.
           The Back of the above 1000 Rupees Banknote

The Back of the One Thousand Rupees Banknote depicts the Islamia College in Peshawar.

The size of this Banknote was 155 mm x 65 mm and its predominant colour is dark blue.

This Banknote was put into circulation on 26.02.2007 and is presently legal tender.

The Back of the Five Thousand Rupees Banknote depicts the Faisal Masjid in Lahore.

The size of this Banknote was 163 mm x 65 mm and its predominant colour is mustard.

This Banknote was put into circulation on 27.05.2006 and is presently legal tender.

Commemorative Banknote on the 50th anniversary of the Independence of Pakistan:

 The Front of the Commemorative Banknote issued on the occasion of the 50th Anniversary of the Independence of Pakistan. Notice the Commemorative years - "1947-1997" printed in English on this Banknote.
On the Front of the Five Rupee Commemorative Banknote is a portrait of Mumammad Ali Jinnah.

          The Back of the above Commemorative Banknote
On the Back of the Five Rupee Commemorative Banknote is depicted the Tomb of Baha-ud-din Zakariya (04.11.1171-21.12.1262) in Multan. (He belonged to the Suhrawardiyya Sufi Order and was well known in the Mamluk Sultanate of India).
This Banknote has been in circulation from 1997 onwards. 

Tail-piece: We went for a trip to Amritsar some years ago and went to see the Wagah border ceremony of closing the border gates for the night between India and Pakistan. The atmosphere was more like a festive "mela". We thoroughly enjoyed ourselves. After the "Closing of the Gates" ceremony was over, we saw several Pakistani citizens make a bee-line for the closed gates and take pictures of the Indians on the Indian side and wave out in friendly gestures and vice versa. A pity that the Gates barred them from meeting one another. One wondered when the citizens of both countries who had fought for Independence from the British Raj shoulder to shoulder could ever be united again. A brief account of our trip can be accessed through the following link: please click here.










(The above Banknotes are from the collection of Jayant Biswas. The Rs.1000/- Banknote has an interesting tale and was collected by Jayant from a retired Pakistani Army Colonel in his Seventies and his wife whom he met at the hotel where he was staying during his recent trip to the USA. They were visiting the US too during this period on a holiday. Jayant got along famously with this well educated, widely travelled couple who gave him this Banknote upon learning that he had an immense interest in collecting Currencies and Coins from around the World.  Images scanned and post researched and written by Rajeev Prasad)

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