"Gulf Rupee" - for circulation in the Persian/Arabian Gulf
During British rule and until the 1960ies, most of the countries in this
area did not have their own currencies.Given the great amount of trade
between India and the Persian Gulf countries, using the Indian Rupee was a
natural choice. Prior to 1957, Persian Gulf banks collected Indian Rupees
and presented them to the Reserve Bank of India to be converted into foreign
currencies. In 1957, India imposed strict foreign exchange controls. It
became very important for the Reserve Bank of India to know and control the
flow of Indian rupees being used outside India. This necessitated changing
the existing currency exchange arrangements India had with the Persian Gulf
countries. A separate series of Indian banknotes was released for exclusive
use in the Persian Gulf countries.
In 1959 new notes were released into circulation (Rp. 1, 5, 10 & 100). The
design of these notes was the same as the circulating Indian banknotes, but
prefix letter "Z" was used and the colors changed.
for similar notes for circulation in India, see