Saoud Aleshaq Collection

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History about the banknotes of Bahrain

Posted by [email protected] on August 10, 2014 at 2:05 PM Comments comments (0)

On October 16, 1965, the Bahrain Currency Board introduced notes in denominations of ¼, ½, 1, 5 and 10 dinar; a 100-fil note was introduced on September 2, 1967.In 1973, the Bahrain Monetary Agency took over the issuance of paper money, and in 1979 it introduced a new family of notes dated 1973 in Arabic, with denominations of ½, 1, 5, 10 and 20 dinar. On September 7, 2006, the Bahrain Monetary Agency was renamed the Central Bank of Bahrain. On March 17, 2008, the Central Bank of Bahrain introduced a new family of notes reflecting Bahrain's heritage as well as its modern development. Saudi riyals are also acceptable in Bahrain, with the exception of the Saudi 500 riyal note which is only accepted in major supermarkets, airports and electronic shops.

History about the banknotes of Oman

Posted by [email protected] on August 10, 2014 at 2:05 PM Comments comments (0)

Before 1940, the Indian rupee and the Maria Theresa Thaler (known locally as the rial) were the main currencies circulating in Muscat and Oman, as the state was then known, with rupees circulating on the coast and Thaler in the interior. Maria Theresa Thaler were valued at 230 paisa, with 64 paisa equal to the rupee.

 

In 1940, coins were introduced for use in Dhofar, followed, in 1946, by coins for use in Oman. Both coinages were denominated in baisa (equivalent to the paisa), with 200 baisa to the rial. The Indian rupee and, from 1959, the Gulf rupee continued to circulate.

 

In 1970, the rial Saidi (not to be confused with Saudi riyal) was made the currency of Oman. It was equal to the British pound and replaced the Gulf rupee at a rate of approximately 21 rupees to the rial. The new rial was subdivided into 1000 baisa. The rial Omani replaced the rial Saidi at par in 1973. The currency name was altered due to the regime change in 1970 and the subsequent change of the country's name.

The banknotes of Qatar

Posted by [email protected] on August 10, 2014 at 1:25 PM Comments comments (0)

Until 1966, Qatar used the Indian rupee as currency, in the form of Gulf rupees. When India devalued the rupee in 1966, Qatar, along with the other states using the Gulf rupee, chose to introduce its own currency.[1] Before doing so, Qatar briefly adopted the Saudi riyal, then introduced the Qatar and Dubai riyal which was the result of signing the Qatar-Dubai Currency Agreement on 21 March 1966. The Saudi riyal was worth 1.065 rupees, whilst the Qatar and Dubai riyal was equal to the rupee prior to its devaluation.

 

Following Dubai's entrance into the United Arab Emirates, Qatar began issuing the Qatari riyal separate from Dubai on 19 May 1973. The old notes continued to circulate in parallel for 90 days, at which time they were withdrawn.


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