⅔ Falus - Murtaza Nizam Shah II

Murtaza Nizam Shah II was not a ruler in any meaningful political sense — he was a child installed as a figurehead by the regent Malik Ambar, the Abyssinian former slave who effectively controlled Ahmadnagar's resistance against Mughal expansion during these years. Coins issued under Murtaza's name belong entirely to Malik Ambar's administration, struck to maintain the fiction of Nizamshahi sovereignty while the Mughals pressed hard on the sultanate's borders.

The fractional denomination points to localized, small-scale commerce in a polity fighting for survival — Ahmadnagar would hold out against full Mughal annexation until 1636.