The rupia was the currency of

Portuguese India The State of India ( pt, Estado da Índia), also referred as the Portuguese State of India (''Estado Português da Índia'', EPI) or simply Portuguese India (), was a state of the Portuguese Empire founded six years after the discovery of a se ...

sometime after 1668 until 1958. Prior to 1668, the currency unit was ''Xerafim'' (''xerafin'', ''xeraphin''). In 1666, the Portuguese administration struck a silver coin calling it double ''xerafin'' and this was declared equal to a rupia in circulation in India outside of Portuguese possessions. A ''xerafim'' was a convertible subunit of ''rupia'', and it was unique to Portuguese colonies in India. One rupia equalled two xerafims. In decades that followed, the double ''xerafin'' came to be known in

Goa Goa () is a state on the southwestern coast of India within the Konkan region, geographically separated from the Deccan highlands by the Western Ghats. It is located between the Indian states of Maharashtra to the north and Karnataka to the ...

and other Portuguese Indian territories simply as rupia (or Portuguese Indian rupia) was subdivided into units such as ''reis'' (''real'') and ''pardao'' that mirrored the currency terms introduced by Portuguese officials in other colonies worldwide.

History

Before 1871, the rupia was subdivided into 750 ''bazarucos'', 600 ''réis'' (singular: ''real''), 20 ''pardaus'' or 10 ''tangas''. A rupia equaled two ''xerafims''. After 1871, 960 réis or 16 tangas (worth 60 réis) equalled 1 rupia. The rupia was equal in value to the

Indian rupee The Indian rupee ( symbol: ₹; code: INR) is the official currency in the republic of India. The rupee is subdivided into 100 ''paise'' (singular: ''paisa''), though as of 2022, coins of denomination of 1 rupee are the lowest value in use wh ...

. This meant the tanga was equal in value to the

Indian anna An anna (or ānna) was a currency unit formerly used in British India, equal to of a rupee. It was subdivided into four (old) Paisa or twelve pies (thus there were 192 pies in a rupee). When the rupee was decimalised and subdivided into 10 ...

. In 1958, the currency was replaced by the

escudo The escudo ( Portuguese: 'shield') is a unit of currency historically used in Portugal and its colonies in South America, Asia, and Africa. It was originally worth 16 silver . The Cape Verdean escudo and the former Portuguese escudo (PTE), eac ...

at the rate of 1 rupia = 6 escudos.

Coins

Damão Daman (; Indo-Portuguese; ''Damao'') is the capital city of the Indian union territory of Dadra and Nagar Haveli and Daman and Diu. It is a municipal council situated in the Daman district of the union territory. Daman Ganga River divides Dam ...

and Diu issued their own coinages until the middle of the 19th century. Damão issued

copper Copper is a chemical element with the symbol Cu (from la, cuprum) and atomic number 29. It is a soft, malleable, and ductile metal with very high thermal and electrical conductivity. A freshly exposed surface of pure copper has a pinkis ...

3, 15, 30 and 60 réis coins until 1854 when the mint closed. Diu issued

lead Lead is a chemical element with the symbol Pb (from the Latin ) and atomic number 82. It is a heavy metal that is denser than most common materials. Lead is soft and malleable, and also has a relatively low melting point. When freshly cu ...

and

tin Tin is a chemical element with the symbol Sn (from la, stannum) and atomic number 50. Tin is a silvery-coloured metal. Tin is soft enough to be cut with little force and a bar of tin can be bent by hand with little effort. When bent, t ...

5 and 10 bazarucos together with tin 20 bazarucos, copper 30 and 60 réis and

silver Silver is a chemical element with the Symbol (chemistry), symbol Ag (from the Latin ', derived from the Proto-Indo-European wikt:Reconstruction:Proto-Indo-European/h₂erǵ-, ''h₂erǵ'': "shiny" or "white") and atomic number 47. A soft, whi ...

150 and 300 réis and 1 rupia. The Diu mint closed in 1859.

issued the most diverse coinage of the three mints. In addition to tin ''bastardo'', there were copper coins in denominations of 3, , 6, , 9, 10, 12 and 15 réis, and 1 tanga, silver coins for and 1 tanga, and 1 pardau, and 1 rupia, and

gold Gold is a chemical element with the symbol Au (from la, aurum) and atomic number 79. This makes it one of the higher atomic number elements that occur naturally. It is a bright, slightly orange-yellow, dense, soft, malleable, and ductile met ...

1, 2, 4, 8 and 12 xerafins. The Goa mint was closed by the British in 1869. Following the closure of the last local mint, coins were imported from Portugal beginning in 1871. This new coinage coincided with the reform of the subdivisions of the rupia. Copper coins were introduced in denominations of 3, 5, 10 and 15 réis, and 1 tanga. In 1881, copper tanga and silver , , and 1 rupia coins were introduced. Bronze replaced copper in 1901, whilst cupro-nickel 2 and 4 tangas were introduced in 1934, followed by and 1 rupia in 1947 and 1952, respectively.

Banknotes

The first paper money issued specifically for Portuguese India was issued by the ''Junta da Fazenda Pública'' in 1882 in denominations of 10 and 20 rupias. These were followed in 1883 by notes issued by the General Government (''Governo Geral'') for 5, 10, 20, 50, 100 and 500 rupias. In 1906, the ''

Banco Nacional Ultramarino Banco Nacional Ultramarino (, BNU; ; en, National Overseas Bank) is a Macau banking and financial services corporation. It was a Portuguese bank with operations throughout the world, especially in Portugal's former overseas provinces. It ceased e ...

'' took over the issuance of paper money, issuing notes for 5, 10, 20 and 50 rupias. In 1917, notes were added for 4 and 8 tangas, 1 and rupias. These were the only issue of tanga denominated notes, whilst the rupia notes were issued until 1924 and the 1 rupia until 1929. 100 and 500 rupias notes were reintroduced in 1924.

References

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External links

Indo-Portuguese Issues
{{Authority control Modern obsolete currencies Historical currencies of India Portuguese India Economic history of Portugal 1958 disestablishments in Portuguese India 19th-century establishments in Portuguese India