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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.
The economy of Bahrain is heavily dependent upon oil and gas. [14] The Bahraini Dinar is the second-highest-valued currency unit in the world. [15] Since the late 20th century, Bahrain has heavily invested in the banking and tourism sectors. [16] The country's capital, Manama is home to many large financial structures. Bahrain's finance ...
Dinar notes under the Federation of South Arabia. On 1 October 1965, Bahrain replaced the Gulf rupee with a Bahraini dinar unit at fifteen shillings sterling. This rose to seventeen shillings and sixpence against the pound on 18 November 1967 when Bahrain did not devalue with the pound sterling.
Bahrain created the Bahraini dinar in 1965, at the rate of 1 dinar = 10 rupees. Qatar and most of the Trucial States (after 1971, United Arab Emirates) adopted the Qatar and Dubai riyal , which was equal to the Gulf rupee prior to its devaluation, effectively the Indian rupee value.
A currency symbol or currency sign is a graphic symbol used to denote a currency unit. Usually it is defined by a monetary authority, such as the national central bank for the currency concerned.
Promote the use of the Arab dinar as a unit of account and to pave the way for the creation of a unified Arab currency; Coordinate the positions of member states in dealing with international monetary and economic problems; Provide a mechanism for the settlement of current payments between member states in order to promote trade among them. [15]
The dinar (/ d ɪ ˈ n ɑː r /) is the name of the principal currency unit in several countries near the Mediterranean Sea, with a more widespread historical use. The English word "dinar" is the transliteration of the Arabic دينار ( dīnār ), which was borrowed via the Syriac dīnarā from the Latin dēnārius .
The fils (Arabic: فلس) is a subdivision of currency used in some Arab countries, such as Iraq and Bahrain. The term is a modern retranscription of fals , an early medieval Arab coin. "Fils" is the singular form in Arabic, not plural (as its final consonant might indicate to an English speaker).