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Gulf Rupee - the time when India printed currencies for other countries

Author
Zerodha Varsity
Published
Tue 17 Jun 2025
Episode Link
https://side-notes-by-zerodha-varsity.simplecast.com/episodes/gulf-rupee-the-time-when-india-printed-currencies-for-other-countries-OVZDv31m

Five Gulf countries - Kuwait, Bahrain, Qatar, Oman, and the UAE - used the Indian rupee as a legal tender until the late 1950s and early 1960s. But it became a problem for India. So the RBI introduced the Gulf Rupee, a special edition of the rupee that could be used only in those five countries and not India. But why is it not in circulation today?


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