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Bahraini dinar

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Title: Bahraini dinar  
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Subject: United Arab Emirates dirham, Day of Rage (Bahrain), Economy of Bahrain, Dinar, Bahrain
Collection: 1965 in Bahrain, 1965 Introductions, Currencies of Bahrain, Fixed Exchange Rate
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Bahraini dinar

Bahraini dinar
دينار بحريني   (Arabic)
ISO 4217 code BHD
Monetary authority Central Bank of Bahrain
 Website .bh.gov.cbbwww
User(s)  Bahrain
Inflation 7%
 Source The World Factbook, 2008 est.
Pegged with U.S. dollar = BD 0.376
Subunit
 1/1000 fils
Symbol .د.ب (Arabic) or BD (Latin)
Coins 5, 10, 25, 50, 100, BD ½ ( 500 fils )
Banknotes BD ½, BD 1, BD 5, BD 10, BD 20

The dinar (Arabic: دينار Dīnār Baḥrainī‎) (sign: .د.ب or BD; code: BHD) is the currency of Bahrain. It is divided into 1000 fils (فلس). The name dinar derives from the Roman denarius. The dinar was introduced in 1965, replacing the Gulf rupee at a rate of 10 rupees = 1 dinar. The Bahraini dinar is abbreviated .د.ب (Arabic) or BD (Latin). It is usually represented with three decimal places denoting the fils.

Contents

  • Coins 1
  • Banknotes 2
  • Fixed exchange rate 3
  • See also 4
  • References 5
  • External links 6

Coins

In 1965, coins were introduced in denominations of 1, 5, 10, 25, 50 and 100 fils. The 1, 5 and 10 fils were struck in bronze, with the others in cupro-nickel. The 1 fils coin was not produced after 1966 and no longer circulates. In 1992, brass replaced bronze in the 5 and 10 fils and a bimetallic 100 fils coin was introduced. A bimetallic 500 fils followed in 2000.

Note that the Central Bank of Bahrain discontinued the Bimetallic 500 fils after the revolution of Bahrain on 14 Feb 2011. In addition to this discontinuation, the pearl roundabout was destroyed as it was the place where the protesters demonstrated.

Coins of the Bahraini dinar
Image Value Diameter Weight Composition Obverse Reverse First Minted Year
1 fils ?? mm ?? g Bronze Palm tree Value 1965
5 fils 18 mm ?? g Bronze Palm tree Value 1965
10 fils 24 mm ?? g Bronze Palm tree Value 1965
25 fils ?? mm ?? g Cupro-nickel Palm tree Value 1965
50 fils 20 mm ?? g Cupro-nickel Palm tree Value 1965
100 fils 25 mm ?? g Cupro-nickel Palm tree Value 1965
5 fils 19 mm 2,50 g Brass Palm tree Value 1992
10 fils 21 mm 3.35 g Brass Palm tree Value 1992
25 fils 20 mm 2,35 g Cupro-nickel Dilmo Civilization seal Value 1992
50 fils 22 mm 3.5 g Cupro-nickel Boat (Dhow) Value 1992
100 fils 24 mm 6 g Brass ring, cupro-nickel centre Coat of Arms Value 1992
Bahrain coin, obverse
Bahrain coin, reverse

For a wider history surrounding currency in the region, see The History of British Currency in the Middle East.

Banknotes

On October 16, 1965, the Bahrain Currency Board introduced notes in denominations of ¼, ½, 1, 5 and 10 dinars; a 100-fils note was introduced on September 2, 1967.[1] 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 dinars. On September 7, 2006,[2] 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.

4th series (154mm x 74mm)
Image Value Main Colour Front Side Back Side
½ Dinar Brown/Peach Old Bahrain Court Bahrain International Circuit
1 Dinar Red Al Hedya Al Khalifiya School (Bahrain first school) Galloping Arabian Horses and the Sail and Pearl monument
5 Dinars Blue Shaikh Isa House in Muharraq and Riffa Fort First oil well in Bahrain and Aluminum Bahrain (Alba)
10 Dinars Green Sheikh Hamad ibn Isa Al Khalifah (Bahrain King) Shaikh Isa Bin Salman Al Khalifa Causeway
20 Dinars Brown/light blue Sheikh Hamad ibn Isa Al Khalifah (Bahrain King) Al Fateh Islamic Center

Fixed exchange rate

In December 1980, the dinar was officially pegged to the IMF's special drawing rights (SDRs). In practice, it is fixed at 1 U.S. dollar = BD .376, which translates to approximately 1 dinar = 2.65957 dollars[3] and, consequently, almost 10 Saudi Arabian riyals. This rate was made official in 2001. Before Malta's adoption of the euro on 1 January 2008, it was the third-highest-valued currency unit after the Kuwaiti dinar and Maltese lira. After Malta adopted the Euro, the dinar became the second highest-valued currency unit.

Note: Rates obtained from these websites may contradict with pegged rate mentioned above

See also

References

  1. ^ Linzmayer, Owen (2011). "Bahrain". The Banknote Book. San Francisco, CA: www.BanknoteNews.com. Retrieved 2011-08-21. 
  2. ^ Linzmayer, Owen (2011). "Bahrain". The Banknote Book. San Francisco, CA: www.BanknoteNews.com. Retrieved 2011-08-21. 
  3. ^ Exchange Rate Policy, Bahrain Monetary Agency
  • Krause, Chester L., and Clifford Mishler (1991).  
  • Pick, Albert (1994).  

External links

Preceded by:
Gulf rupee
Ratio: 1 dinar = 10 rupees = 0.75 British pound
Currency of Bahrain
1965 –
Succeeded by:
Current
Currency of Abu Dhabi
1966 – 1973
Succeeded by:
United Arab Emirates dirham
Ratio: 1 dirham = 0.1 dinar
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