The ink could have smeared- this is, I believe, a lithographed issue, rather than an engraved bill. The ink could have been poor quality, or it could be a counterfeit bill- many counterfeits exist of this series. Ink on counterfeits can spread with a little water. The bill could have been put in a stack before the ink had dried, giving the smear. Quality control was not the best in the JIM issues, which were used in several areas- Malaya, Burma, Dutch East Indies, Oceania, Philippines.























