10 Rupias

Banco Nacional Ultramarino's Goa branch issued this note for Portuguese India at a time when the territory's economy ran on a parallel track entirely disconnected from Lisbon's domestic finances. The rupee-denominated series reflected practical reality: trade in Goa operated on the Indian rupee standard, not the escudo, and BNU's role was essentially that of a colonial currency manager bridging two empires' monetary systems.

Bradbury Wilkinson produced the plate work in London. Their engraving quality for this period was consistently fine, and the 1906 Goa series is no exception — though early issues of P#16 are notably scarce, likely a function of limited print runs and the note's active use in everyday commerce.