Watch List notes:

India (2) a pair of Reserve Bank of India (Persian/Arabian Gulf) notes the first being Five Rupees Pick R2, ND (1957-1962), signed Iengar, series Z2 754913, Fine with pinholes to left, featuring Lion capital of Asoka column (now in Sarnath Museum) on obverse and Antelopes on reverse, watermarked Lion Capital of Asoka column, and the second note being Ten Rupees Pick R3, ND (1957-1962), signed Iengar, series Z3 572226, VG looks better with slightly bigger pinholes to left, featuring Lion capital of Asoka column on obverse and sailing Dhow on reverse, watermarked Lion Capital of Asoka column. 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 colours changed.

Estimate: 700-800 GBP