Indian Rupee 1916

One of the beautiful pieces I recently added to my personal collection, which I also photographed myself, is a captivating coin minted in India. Despite its immense impact on Egypt's financial history for over 100 years, I felt compelled to include it as an integral part of the story of Egyptian currency.

The entire subject is explained in the text of the decree issued at the Abdeen Palace on March 6, 1916:

We are the Sultan of Egypt

Having reviewed Article Fourteen of the High Order issued on November 14, 1885 AD regarding the Egyptian currency, and since the present circumstances, especially the presence of a large number of armies in the Egyptian country, have resulted in an increased demand for silver coins, it has become clear that the amount of these coins currently in circulation is insufficient to meet this need.

Since a large amount of silver coins sent to Egypt were lost on the way, it may take a long time before new coins arrive in the country.

Therefore, the government deemed it necessary to arrange for temporary transactions using the Indian government's silver currency, known as the rupee, of which a considerable amount is held in the Treasury of the Ministry of Finance. Based on the proposal submitted to us by the Minister of Finance and with the approval of the Cabinet, we hereby decree the following:

The Indian silver rupee shall have a legal tender rate in Egypt, like the Egyptian silver currency, on a temporary basis until a new order is issued.

The value of the rupee was set at sixty-five millimes of the Egyptian pound (65 millimes).

Issued at the Abdeen Palace on 2 Jumada al-Awwal 1334 – 6 March 1916 AD

Source: Encyclopedia of Egyptian Currencies by Engineer Magdy Hanafy