History lovers and currency collectors were taken aback when a rare Rs 100 note from 1950 sold for an astonishing Rs 5,649,650 at a London auction.
This unique currency, known as the 'Haj note,' was issued by the Reserve Bank of India specifically for pilgrims traveling to Gulf countries. The note features the serial number HA 078400, marking it as a significant piece in both historical and economic contexts.
At the time of its issuance, the Reserve Bank aimed to regulate the purchase of illegal gold jewelry, making this note a crucial part of economic history. Its use was limited to Gulf nations such as the UAE, Qatar, Bahrain, Kuwait, and Oman, and it was not considered legal tender within India.
Following Kuwait's introduction of similar currency in 1961, other nations adopted the practice, further enhancing the Haj note's rarity and significance. The special mention of 'HA' in its serial number symbolizes its connection to pilgrimage, making it a coveted item for collectors.