Bahraini dinar
From Wikipedia, the free encyclopedia
| Bahraini dinar دينار بحريني (Arabic) |
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| ISO 4217 Code | BHD | ||||
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| User(s) |  Bahrain |
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| Inflation | 3.5% | ||||
| Source | The World Factbook, 2006 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, 500 fils | ||||
| Banknotes | BD ½, BD 1, BD 5, BD 10, BD 20 | ||||
| Monetary authority | Central Bank of Bahrain | ||||
| Website | www.cbb.gov.bh | ||||
The dinar (Arabic: دينار)is the currency of Bahrain. The ISO 4217 currency code is BHD. 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.
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[edit] 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.
| Coins of the Bahraini dinar | |||||||
|---|---|---|---|---|---|---|---|
| Image | Value | Diameter | Weight | Composition | Obverse | Reverse | First Minted Year |
| 1 fils | ?? mm | ?? g | Bronze | Palm tree | Value | 1965 | |
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5 fils | 18 mm | ?? g | Bronze | Palm tree | Value | 1965 |
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10 fils | 24 mm | ?? g | Bronze | Palm tree | Value | 1965 |
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25 fils | ?? mm | ?? g | Cupro-nickel | Palm tree | Value | 1965 |
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50 fils | 20 mm | ?? g | Cupro-nickel | Palm tree | Value | 1965 |
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100 fils | 25 mm | ?? g | Cupro-nickel | Palm tree | Value | 1965 |
| 5 fils | 19 mm | 2,50 g | Brass | Palm tree | Value | 1992 | |
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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 | |
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50 fils | 22 mm | 3.5 g | Cupro-nickel | Boat (Dhow) | Value | 1992 |
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100 fils | 24 mm | 6 g | Brass ring, cupro-nickel centre | Coat of Arms | Value | 1992 |
| 500 fils | 27 mm | 9 g | Cupro-nickel ring, brass centre | Pearl over tripod | Value | 2000 | |
[edit] Banknotes
In 1965, The Bahrain Currency Board introduced notes in denominations of 100 fils, ¼, ½, 1, 5 and 10 dinar. In 1973, the Bahrain Monetary Agency took over production of paper money, issuing notes for ½, 1, 5, 10 and 20 dinar. In 2006, the Monetary Agency was renamed the Central Bank. On March 2, 2008, the Central Bank of Bahrain has released pictures of the new notes bearing its name in the local newspapers. The Central Bank stated that the new notes will be released shortly. The new notes will be used hand in hand with the old ones. The new notes also feature new images reflecting Bahrain's heritage as well as its modern development.
[edit] 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[1] and, consequently, 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. Now it is the second highest.
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| Use XE.com: | AUD CAD CHF EUR GBP HKD JPY USD |
| Use OANDA.com: | AUD CAD CHF EUR GBP HKD JPY USD |
Note: Rates obtained from these websites may contradict with pegged rate mentioned above
[edit] See also
[edit] References
- Krause, Chester L. and Clifford Mishler (1991). Standard Catalog of World Coins: 1801-1991, 18th ed., Krause Publications. ISBN 0-87341-150-1.
- Pick, Albert (1994). Standard Catalog of World Paper Money: General Issues, Colin R. Bruce II and Neil Shafer (editors), 7th ed., Krause Publications. ISBN 0-87341-207-9.
[edit] External links
- Don's World Coin Gallery - Bahrain
- Ron Wise's World Paper Money - Bahrain Mirror site
- Tables of Modern Monetary Systems by Kurt Schuler - Asia Mirror site
- The Global History of Currencies - Bahrain
- Global Financial Data currency histories table (
Microsoft Excel format)
| 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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