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On January 28, 1978, the dirham was officially pegged to the IMF's special drawing rights (SDRs). [10] In practice, it has been pegged to the U.S. dollar for most of the time. [11] Since November 1997, the dirham has been pegged to the US dollar at a rate of US$1 = Dhs 3.6725, [12] which translates to approximately Dh 1 = US$0.272294.
[2] [7] The planned exchange rate to the United States dollar was approximately US$139. A number of analysts stated that the organization was motivated to produce such a currency for pan-Islamic propaganda purposes or for emphasizing the sovereign statehood of the so-called IS caliphate, or both. [8]
This is a list of circulating fixed exchange rate currencies, ... Australian dollar: 1 United Arab Emirates dirham: U.S. dollar: 3.6725 Notes. Approximate.
The dirham was a unit of mass used across North Africa, the Middle East, Persia and Ifat; later known as Adal, with varying values. The value of Islamic dirham was 14 qirat. 10 dirham equals 7 mithqal (2.975 gm of silver). In the late Ottoman Empire (Ottoman Turkish: درهم), the standard dirham was 3.207 g; [1] 400 dirhem equal one oka.
De Facto Classification of Exchange Rate Arrangements, as of April 30, 2021, and Monetary Policy Frameworks [2] Exchange rate arrangement (Number of countries) Exchange rate anchor Monetary aggregate target (25) Inflation Targeting framework (45) Others (43) US Dollar (37) Euro (28) Composite (8) Other (9) No separate legal tender (16) Ecuador ...
Fixed exchange rate [ edit ] Since October 23, 1995, the dinar has officially been pegged to the IMF 's special drawing rights (SDRs), while in practice it was fixed at 1 U.S. dollar = 0.709 dinar most of the time, which is approximately 1 dinar = 1.41044 dollars.