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The name dinar then became the preferred name for the pound sterling unit of account as it spread to other Middle East territories. The Jordanian dinar maintained its 1:1 parity with the pound sterling until 18 November 1967 when Harold Wilson devalued the pound. The Jordanian dinar did not devalue in parallel, hence breaking the sterling parity.
The Bahraini dinar was introduced in 1965, replacing the Gulf rupee at a rate of 10 rupees = 1 dinar. It was initially equivalent to 3 ⁄ 4 of a pound sterling (15 shillings). When sterling was devalued in 1967, the dinar was repegged to 17s 6d sterling (7 ⁄ 8 of a pound). Bahraini coins and notes were introduced at that time.
Pegged with. U.S. dollar (USD) $1 USD = 3.75 SAR. The Saudi riyal ( Arabic: ريال سعودي riyāl suʿūdiyy) is the currency of Saudi Arabia. It is abbreviated as ر.س SAR, or SR (Saudi Arabian Riyal/Saudi Riyal). It is subdivided into 100 halalas ( Arabic: هللة Halalah ). The currency is pegged to the US dollar at a constant rate of ...
The Gulf rupee ( Arabic: روبية خليجية) was the official currency used in the British protectorates of the Arabian Peninsula that are around the Persian Gulf between 1959 and 1966 (1970 Oman). These areas today form the countries of Kuwait, Bahrain, Qatar, Oman, and the United Arab Emirates. It was issued by the Government of India ...
All the Trucial States except Abu Dhabi adopted the Qatar and Dubai riyal, which was equal to the Gulf rupee prior to the devaluation. These emirates briefly adopted the Saudi riyal during the transition from the Gulf rupee to the Qatar and Dubai riyal. Abu Dhabi used the Bahraini dinar, at a rate of 10 Gulf rupees = 1 dinar. In 1973, the UAE ...
Egyptian pound: EGP Egypt £E or ج.م or L.E. Lebanese pound [10] LBP Lebanon £L and ل.ل [10] [11] Sudanese pound: SDG Sudan: SDG or ج.س Syrian pound [12] SYP Syria £S [13] Omani rial [14] OMR Oman: ر.ع [15] Qatari riyal [16] QAR Qatar: ر.ق [17] Saudi riyal [18] SAR Saudi Arabia: SR [19] Yemeni rial [20] YER Yemen ﷼ [21] Israeli ...
Bahrain is a rich country in the middle east and the north africa (MENA) region and its economy depends on oil & gas, international banking and tourism. [ 16] In 2003 and 2004, the balance of payments improved due to rising oil prices and increased receipts from the services sector. As a result, the current account balance registered a surplus ...
On 7 May 1970 [ 6][ 7] the Saidi rial (named after the House of Al Said, not to be confused with Saudi riyal) was introduced as the currency of Oman to replace the Gulf rupee. It was equal to the British pound sterling and 1 Saidi rial = 21 Gulf rupees. The Saidi rial was subdivided into 1000 baisa.