1 Rupee Note in Pakistan in 1947 - 1948 with George VI picture When Pakistan was carved out of the British India on 14 August 1947, it had no currency notes or coins of its own, nor a central bank or mint to print paper currency or mint coins. In order to cope up with the requirement of the new country, the Governor General of undivided India issued the Pakistan (Monetary System and Reserve Bank) Order just before the Partition. Under this order, the Reserve Bank of India was to act as the common currency authority for India and Pakistan until 30 September 1948, allowing a cushion period of almost a year for the newly born state to issue its own currency. As an interim arrangement, the currency notes and coins issued by the Reserve Bank of India and the Government of India were to be the legal tender in Pakistan. Thus the currency of the Indian Reserve Bank was inscribed with words Government of Pakistan both in Urdu and English, and placed into circulation from 1 April 1948 under the responsibility of the Government of Pakistan. So, following a seven-month period where notes of the Reserve Bank of India and the Government of India continued to circulate in Pakistan, modified notes of the Reserve Bank of India in the denominations of 2, 5, 10 and 100 rupees were introduced as planned, along with modified 1-rupee notes of the Government of India. The Indian currency consisted of two inscriptions on the front of the notes: at the top of the white area reserved for viewing the watermark the words GOVERNMENT OF PAKISTAN were inscribed in English, while at the bottom of the white area the Urdu rendition of the same phrase appears, i.e. Hukumat-e-Pakistan. For these inscriptions, the printing plates were modified, instead of overprints to avoid forgery.
Posted on: Sat, 01 Feb 2014 13:33:58 +0000
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