In matters of currency and coinage, the coins of the Nizams were issued in the name of the Mughal Emperor till 1858 when a coin legend was introduced with the name of the founder of the state, Asaf Jha. Thereafter, they were struck independently and the new coins were termed the 'Hali Sicca', i.e., the current coins. In 1903-04 coins were machine struck for the first time. These coins featured the Charminar on the obverse with Persian inscription Nizam-ul-mulk Bahadur Asaf Jah around it. The reverse carried the value. These coins confirmed to the British coins in denominations and metals.

Coins of Hyderabad
 

Denomination	Obverse	Reverse
Ashrafi
Rupee
8 Annas
4 Annas
2 Annas

1912

1914

1911

Where paper currency was concerned, the Government of Hyderabad had made several state led efforts to organise private bankers and local 'saukars' in the Dominion to set up a banking company which could issued paper money, amongst other activities. These attempts to issue paper currency proved abortive, in the wake of British resistance to Indian States issuing paper currency. The exigency of the First World War, the Indian and Hyderabad contributions to British war effort, and an acute shortage of silver on the subcontinent led the Dominion to get its way in 1918 and paper currency was issued under the Hyderabad Currency Act. Notes were issued in denominations of Rupees 100 and Rs 10. The currency was designated the Osmania Sicca and the notes were printed by Messrs Waterlow and Sons. Rupee One and Rupees Five notes were issued subsequently in 1919 and Rupees One Thousand notes were issued in 1926. After the setting up of the India Currency Notes Press at Nasik, Hyderabad notes came to be printed there for reasons of economy and security. Hyderabad acceded to the Indian Union after police action. The Osmania Sicca was demonetised in 1959. With the reorganisation of states on a linguistic basis the State of Hyderabad ceased to exist.