Kuwaiti dinar
The Kuwaiti dinar (in English: Kuwaiti Dinar) - which is known as (KWD) - appeared for the first time in 1961 AD as a substitute for the Gulf rupee, and it became the official currency of the state, and one Kuwaiti dinar consists of 1,000 fils, and it is considered the most valuable currency in the world.
Since 1975 AD, the Kuwaiti dinar has been associated with a basket of currencies that were determined by the Kuwaiti Currency Board until 2003 AD. At that time, it was linked to the US dollar at an exchange rate of 0.29963 Kuwaiti dinars per dollar, before it was officially linked to a basket of currencies again in 2007 AD, and it is mentioned that its exchange rate amounted to 0.3039 Kuwaiti dinars per one dollar in May of 2019 AD.
Saudi riyal
The Saudi riyal (in English: Saudi Riyal) was issued as the official currency of the Kingdom of Saudi Arabia in 1961 AD; That is, about 29 years after the founding of the Kingdom, and it is known as SAR (SAR); As it was backed at the time by the golden Saudi pound, and the Saudi riyal consisted of 20 piasters, or the equivalent of 100 halalas, and stood at a fixed exchange rate of 3.75 Saudi riyals for one US dollar, and in 2016 there were talks; To reduce the price of the Saudi riyal; Because of the drop in oil prices, the Saudi Arabian Monetary Agency refused to do so, and the exchange rate of the Saudi riyal remained the same.
UAE dirham
The Emirati Dirham (in English: Emirati Dirham) - which is known as (AED) - was adopted as the official currency of the country in 1973 AD as an alternative to the Qatari riyal, the Bahraini dinar, and the Dubai riyal. The Emirati dirham has been linked to the US dollar since 1973 AD and its exchange rate has reached since 1997 AD (3.6725) UAE dirhams for every US dollar. It should be noted that the UAE dirham has won the confidence of investors around the world. As it is the most stable currency in the world in terms of exchange rates.
Read also:What is the currency of the European Union?Omani Rial
The Omani Riyal (in English: Omani Riyal) has been carrying this name since 1973 AD after it was called the Rial Al Saidi since 1970 AD for a period of three years. in 1,000 AD, and maintained an exchange rate of 1973 Omani riyals for every US dollar until 0.3454 AD; As its price decreased to 1986 riyals per one dollar, which made it the third most valuable currency in the world.
Qatari riyal
Qatar adopted the Qatari riyal (in English: Qatari Riyal) in 1973 AD after the accession of the Emirate of Dubai to the United Arab Emirates to replace the Qatari and Dubai riyals that were in effect for a period of time, and its value was determined at the equivalent of 0.186621 grams of pure gold, and the Qatari riyal is known as an abbreviation b (QAR), which consists of 100 dirhams, and the pricing links of the Qatari riyal have varied since the start of dealing with it; It was sometimes associated with special drawing rights units, and sometimes with the US dollar, until it was decided to fix the price of the Qatari riyal against the US dollar at an exchange rate of 3.64 riyals for every one dollar since 1980.
Bahraini dinar
The Bahraini dinar (in English: Bahraini Dinar) began to be used in 1965 AD instead of the Gulf rupee, at an exchange rate equal to one dinar for every 10 rupees. In 1,000 AD, at a fixed exchange rate against the US dollar at 1980 dinars per dollar, a set of changes to this rate occurred later.
Read also:What is the currency of Dominica?
