Currencies/Iranian rupi
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Introduction
The Iranian Rupi (Persian: روپیه ایرانی) was a silver coin used in southern Iran during the 19th and early 20th centuries. It circulated primarily in coastal regions such as Bushehr, Bandar Abbas, and along the Persian Gulf, where trade with India was strong. The currency reflected Iran’s close commercial and monetary ties with British India.
History
The Rupi was introduced in southern Iran during the Qajar dynasty (1789–1925 CE), when British influence in the Persian Gulf expanded through the East India Company. Indian rupees—especially the Bombay Rupee—were widely accepted in trade with Persian merchants. Over time, localized issues referred to as the Iranian Rupi began to appear in circulation, often matching the weight and silver content of Indian rupees.
By the late 19th century, the rupi was used alongside Iranian coins such as the abbasi, shahi, and toman. In several southern ports, it became the preferred unit of exchange for maritime commerce, pearl trading, and imports from the Indian subcontinent.
The circulation of the Iranian Rupi declined after the establishment of the rial as Iran’s unified national currency in 1932.
Coins
Rupi coins circulating in Iran were typically silver, similar in size and fineness to the Indian rupee. Many bore British Indian designs, including the portrait of the reigning British monarch (such as Queen Victoria or Edward VII), while others were locally struck imitations for regional trade. These coins were accepted interchangeably in Persian Gulf markets, especially in areas under strong Indo-Persian economic contact.
Currency
In the Iranian monetary system of the southern provinces:
1 Rupi ≈ 4 Kran (approximate value depending on silver purity and market rate)
The rupi was not an official Iranian mint issue but circulated as a de facto trade coin. Its acceptance across borders made it an essential medium for international trade, particularly in transactions between southern Iran and British India.
Legacy
The Iranian Rupi represents a unique chapter in Iran’s monetary history, highlighting the influence of Indian trade and colonial commerce on Persian Gulf economies. Although replaced by the rial in the 20th century, its widespread use underscores the interconnected nature of Iranian and Indian markets during the Qajar period.