10 Rupees

Pick 32 covers the multi-year issue that bridged two very different periods in Seychellois monetary policy — the early 1990s saw the government begin dismantling the strict exchange controls that had made the rupee effectively unconvertible since the late 1970s. Notes from the later end of this date range reflect that transitional instability, when parallel market rates diverged sharply from the official peg.

The single watermark security is notably minimal for a 1990s issue, and forgery of low-denomination Indian Ocean notes was a documented regional problem during this period.