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Bahraini dinar

The dinar (Arabic: دينار بحريني Dīnār Baḥrēnī) (sign: .د.ب or BD; code: BHD) is the currency of Bahrain. It is divided into 1000 fils (فلس). The Bahraini dinar is abbreviated د.ب (Arabic) or BD (Latin). It is usually represented with three decimal places denoting the fils.

Bahraini dinar
دينار بحريني (Arabic)
ISO 4217
CodeBHD (numeric: 048)
Subunit0.001
Unit
Symbol.د.ب‎ (Arabic) or BD (Latin)
Denominations
Subunit
11000fils
Banknotes
 Freq. usedBD 12, BD 1, BD 5, BD 10, BD 20
Coins
 Freq. used5, 10, 25, 50, 100 fils, BD 12 (500 fils)
Demographics
User(s) Bahrain  Abu Dhabi (Formerly)
Issuance
Monetary authorityCentral Bank of Bahrain
 Websitewww.cbb.gov.bh
Valuation
Inflation1,4%
 Source, 2017 est.
Pegged withU.S. dollar (USD)
$1 USD = 0.376 BD

The name dinar derives from the Roman denarius.

As of December 2021, the Bahraini dinar is the second highest-valued currency unit, at 2.65 United States dollars per unit (the highest-valued unit is the Kuwaiti dinar at $3.32).

History edit

The Bahraini dinar was introduced in 1965, replacing the Gulf rupee at a rate of 10 rupees = 1 dinar. It was initially equivalent to 34 of a pound sterling (15 shillings). When sterling was devalued in 1967, the dinar was repegged to 17s. 6d. sterling (78 of a pound). Bahraini coins and notes were introduced at that time.

Initially, Abu Dhabi adopted the Bahraini dinar but changed to the dirham in 1973, with 1 dirham = 100 fils = 0.100 dinar.

Exchange rate edit

In December 1980, the dinar was officially pegged to the IMF's special drawing rights (SDRs). In practice, it is fixed at $1 USD = 0.376 BHD, which translates to approximately 1 BHD = US$2.65957[1] and, consequently, just over 9.9734 Saudi Arabian riyals. This rate was made official in 2001[citation needed] and Saudi riyals are accepted at all points of sale in Bahrain at 10 to 1, with the exception of the Saudi 500 riyal note which is only accepted in major supermarkets, airports and electronic shops.

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.

Current BHD exchange rates
From Google Finance: AUD CAD CHF CNY EUR GBP HKD JPY USD
From Yahoo! Finance: AUD CAD CHF CNY EUR GBP HKD JPY USD
From XE.com: AUD CAD CHF CNY EUR GBP HKD JPY USD
From OANDA: AUD CAD CHF CNY EUR GBP HKD JPY USD

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

Coins edit

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. A bimetallic 100 fils coin was introduced in October 1992.[2] In 1992, brass replaced bronze in the 5 and 10 fils.

A bimetallic 500 fils coin was released in 2000[3] with the Pearl Monument on the obverse. The coin was discontinued in response to the uprising in Bahrain, which resulted in the demolition of the monument on 18 March 2011, although the Bank stated that minting had ceased some time prior to that. The coin remained in use but was no longer released back into circulation after reaching banks.[4]

Coins of the Bahraini dinar[5]
Image Value Diameter Weight Composition Obverse Reverse First Minted Year
1 fils 15 mm 1.5 g Bronze Palm tree Value 1965
5 fils 18.5 mm 2 g Bronze Palm tree Value 1965
  10 fils 23.5 mm 4.75 g Bronze Palm tree Value 1965
  25 fils 16.5 mm 1.75 g Cupro-nickel Palm tree Value 1965
  50 fils 20 mm 3.1 g Cupro-nickel Palm tree Value 1965
  100 fils 25 mm 6.5 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 3.5 g Cupro-nickel Dilmo Civilization seal Value 1992
  50 fils 22 mm 4.5 g Cupro-nickel Dhow (Bahraini boat) Value 1992
  100 fils 24 mm 6 g Brass ring, cupro-nickel centre Coat of Arms Value 1992
 
 
Bahrain coins, obverse and reverse

For a wider history surrounding currency in the region, see British currency in the Middle East.

Banknotes edit

On 16 October 1965 the Bahrain Currency Board introduced notes in denominations of 14, 12, 1, 5 and 10 dinars; a 100-fils note was introduced on September 2, 1967.[6]

In 1973, the Bahrain Monetary Agency took over the issuance of paper money, and starting in July 1978 with a 20 dinar note, it introduced a new family of notes dated 1973 in Arabic. Denominations of 12, 1, 5 and 10 dinars were released on 16 December 1979. The 100-fils note of the Bahrain Currency Board was withdrawn in November 1980 and the remainder of the notes were withdrawn on 31 March 1996, remaining exchangeable until one year afterwards.[2]

The third issue of notes (the second by the Bahrain Monetary Agency) with the same denominations of 12 to 20 dinars was released in March 1993.[7] This series was upgraded during 1998 with various modifications to colour and security features. However, a fake order for banknotes had recently been placed with the Argentinian printer Ciccone Calcografica who did not verify it with the legitimate authorities in Bahrain and obtained genuine banknote paper from Arjo Wiggins to print over 7 million unauthorised replicas of the 20-dinar note (of the 1993 design), equivalent to US$365 million.[8] These differed from genuine notes in two respects: different background shading to the Arabic name of the Bahrain Monetary Agency, and a large gap between the two Arabic letters in the horizontal serial number.[9] These unauthorised notes were smuggled through various African and European countries by air and presented for exchange in Belgium, Switzerland and the Gulf around June 1998, just as the upgraded 20-dinar note was being released in Bahrain. The large amounts raised suspicions and were soon detected as notes that had not been printed by the authorised printer, De La Rue. The Bahrain Monetary Agency allowed individuals who had mistakenly accepted the unauthorised notes to exchange them for face value at banks between 8–14 June 1998, then quickly recalled all 20-dinar notes on 30 July 1998. The unauthorised notes, being replicas of the 1993 design, were in purple and without a hologram. Despite this the upgraded June 1998 notes, also in purple but with a hologram were also withdrawn. On 1 August 1998 a new 20-dinar note, of the same design as the upgraded note (with a hologram) but in peach colour, was released. Thus, the genuine June 1998 design was only in circulation for about 7 weeks and is therefore rarely seen by collectors.[10] All other banknotes of the Bahrain Monetary Agency remain exchangeable.

On 7 September 2006,[6] the Bahrain Monetary Agency was renamed the Central Bank of Bahrain. On 17 March 2008, the Central Bank of Bahrain introduced its first series of notes (Bahrain's 4th series) reflecting the country's heritage as well as its modern development.

On 4 September 2016, the Central Bank of Bahrain introduced upgraded versions of the 10- and 20-dinar notes with enhanced security features (SPARK and Motion thread) and tactile lines added at center right front for the visually impaired.[11][12]

4th series (154mm x 74mm)
Image Value Main Colour Front Side Back Side
    12 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 King Hamad ibn Isa Al Khalifah Shaikh Isa Bin Salman Al Khalifa Causeway
    20 dinars Brown/light blue King Hamad ibn Isa Al Khalifah Al Fateh Islamic Center

See also edit

References edit

  1. ^ "Monetary Policy | CBB". www.cbb.gov.bh. Retrieved 2022-09-15.
  2. ^ a b "The Banknotes of Bahrain". www.pjsymes.com.au.
  3. ^ . March 15, 2012. Archived from the original on 2012-03-15.
  4. ^ "Bahrain coin may become collector's item". www.tradearabia.com.
  5. ^ "Current Coins | CBB". www.cbb.gov.bh.
  6. ^ a b Linzmayer, Owen (2011). "Bahrain". The Banknote Book. San Francisco, CA: www.BanknoteNews.com. Retrieved 2011-08-21.
  7. ^ . Archived from the original on 2017-09-05. Retrieved 2017-09-18.
  8. ^ "Página/12". www.pagina12.com.ar.
  9. ^ "Bahrain - 20 Dinar Notes". www.pjsymes.com.au.
  10. ^ . Archived from the original on 2018-03-17. Retrieved 2017-09-18.{{cite web}}: CS1 maint: archived copy as title (link)
  11. ^ "Bahrain new 10- and 20-dinar notes (B309, B310) reported". Banknote News.
  12. ^ "Upgraded BD20 & BD10 of fourth issue 2016".

Sources edit

External links edit

  • Historical and current banknotes of Bahrain

bahraini, dinar, dinar, arabic, دينار, بحريني, dīnār, baḥrēnī, sign, code, currency, bahrain, divided, into, 1000, fils, فلس, abbreviated, arabic, latin, usually, represented, with, three, decimal, places, denoting, fils, دينار, بحريني, arabic, 4217codebhd, nu. The dinar Arabic دينار بحريني Dinar Baḥreni sign د ب or BD code BHD is the currency of Bahrain It is divided into 1000 fils فلس The Bahraini dinar is abbreviated د ب Arabic or BD Latin It is usually represented with three decimal places denoting the fils Bahraini dinarدينار بحريني Arabic ISO 4217CodeBHD numeric 048 Subunit0 001UnitSymbol د ب Arabic or BD Latin DenominationsSubunit 1 1000filsBanknotes Freq usedBD 1 2 BD 1 BD 5 BD 10 BD 20Coins Freq used5 10 25 50 100 fils BD 1 2 500 fils DemographicsUser s Bahrain Abu Dhabi Formerly IssuanceMonetary authorityCentral Bank of Bahrain Websitewww wbr cbb wbr gov wbr bhValuationInflation1 4 SourceThe World Factbook 2017 est Pegged withU S dollar USD 1 USD 0 376 BDThe name dinar derives from the Roman denarius As of December 2021 the Bahraini dinar is the second highest valued currency unit at 2 65 United States dollars per unit the highest valued unit is the Kuwaiti dinar at 3 32 Contents 1 History 2 Exchange rate 3 Coins 4 Banknotes 5 See also 6 References 6 1 Sources 7 External linksHistory editThe 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 Initially Abu Dhabi adopted the Bahraini dinar but changed to the dirham in 1973 with 1 dirham 100 fils 0 100 dinar Exchange rate editIn December 1980 the dinar was officially pegged to the IMF s special drawing rights SDRs In practice it is fixed at 1 USD 0 376 BHD which translates to approximately 1 BHD US 2 65957 1 and consequently just over 9 9734 Saudi Arabian riyals This rate was made official in 2001 citation needed and Saudi riyals are accepted at all points of sale in Bahrain at 10 to 1 with the exception of the Saudi 500 riyal note which is only accepted in major supermarkets airports and electronic shops 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 Current BHD exchange ratesFrom Google Finance AUD CAD CHF CNY EUR GBP HKD JPY USDFrom Yahoo Finance AUD CAD CHF CNY EUR GBP HKD JPY USDFrom XE com AUD CAD CHF CNY EUR GBP HKD JPY USDFrom OANDA AUD CAD CHF CNY EUR GBP HKD JPY USDNote Rates obtained from these websites may contradict with pegged rate mentioned aboveCoins editIn 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 A bimetallic 100 fils coin was introduced in October 1992 2 In 1992 brass replaced bronze in the 5 and 10 fils A bimetallic 500 fils coin was released in 2000 3 with the Pearl Monument on the obverse The coin was discontinued in response to the uprising in Bahrain which resulted in the demolition of the monument on 18 March 2011 although the Bank stated that minting had ceased some time prior to that The coin remained in use but was no longer released back into circulation after reaching banks 4 Coins of the Bahraini dinar 5 Image Value Diameter Weight Composition Obverse Reverse First Minted Year1 fils 15 mm 1 5 g Bronze Palm tree Value 19655 fils 18 5 mm 2 g Bronze Palm tree Value 1965 nbsp 10 fils 23 5 mm 4 75 g Bronze Palm tree Value 1965 nbsp 25 fils 16 5 mm 1 75 g Cupro nickel Palm tree Value 1965 nbsp 50 fils 20 mm 3 1 g Cupro nickel Palm tree Value 1965 nbsp 100 fils 25 mm 6 5 g Cupro nickel Palm tree Value 19655 fils 19 mm 2 50 g Brass Palm tree Value 199210 fils 21 mm 3 35 g Brass Palm tree Value 1992 nbsp 25 fils 20 mm 3 5 g Cupro nickel Dilmo Civilization seal Value 1992 nbsp 50 fils 22 mm 4 5 g Cupro nickel Dhow Bahraini boat Value 1992 nbsp 100 fils 24 mm 6 g Brass ring cupro nickel centre Coat of Arms Value 1992 nbsp nbsp Bahrain coins obverse and reverse For a wider history surrounding currency in the region see British currency in the Middle East Banknotes editOn 16 October 1965 the Bahrain Currency Board introduced notes in denominations of 1 4 1 2 1 5 and 10 dinars a 100 fils note was introduced on September 2 1967 6 In 1973 the Bahrain Monetary Agency took over the issuance of paper money and starting in July 1978 with a 20 dinar note it introduced a new family of notes dated 1973 in Arabic Denominations of 1 2 1 5 and 10 dinars were released on 16 December 1979 The 100 fils note of the Bahrain Currency Board was withdrawn in November 1980 and the remainder of the notes were withdrawn on 31 March 1996 remaining exchangeable until one year afterwards 2 The third issue of notes the second by the Bahrain Monetary Agency with the same denominations of 1 2 to 20 dinars was released in March 1993 7 This series was upgraded during 1998 with various modifications to colour and security features However a fake order for banknotes had recently been placed with the Argentinian printer Ciccone Calcografica who did not verify it with the legitimate authorities in Bahrain and obtained genuine banknote paper from Arjo Wiggins to print over 7 million unauthorised replicas of the 20 dinar note of the 1993 design equivalent to US 365 million 8 These differed from genuine notes in two respects different background shading to the Arabic name of the Bahrain Monetary Agency and a large gap between the two Arabic letters in the horizontal serial number 9 These unauthorised notes were smuggled through various African and European countries by air and presented for exchange in Belgium Switzerland and the Gulf around June 1998 just as the upgraded 20 dinar note was being released in Bahrain The large amounts raised suspicions and were soon detected as notes that had not been printed by the authorised printer De La Rue The Bahrain Monetary Agency allowed individuals who had mistakenly accepted the unauthorised notes to exchange them for face value at banks between 8 14 June 1998 then quickly recalled all 20 dinar notes on 30 July 1998 The unauthorised notes being replicas of the 1993 design were in purple and without a hologram Despite this the upgraded June 1998 notes also in purple but with a hologram were also withdrawn On 1 August 1998 a new 20 dinar note of the same design as the upgraded note with a hologram but in peach colour was released Thus the genuine June 1998 design was only in circulation for about 7 weeks and is therefore rarely seen by collectors 10 All other banknotes of the Bahrain Monetary Agency remain exchangeable On 7 September 2006 6 the Bahrain Monetary Agency was renamed the Central Bank of Bahrain On 17 March 2008 the Central Bank of Bahrain introduced its first series of notes Bahrain s 4th series reflecting the country s heritage as well as its modern development On 4 September 2016 the Central Bank of Bahrain introduced upgraded versions of the 10 and 20 dinar notes with enhanced security features SPARK and Motion thread and tactile lines added at center right front for the visually impaired 11 12 4th series 154mm x 74mm Image Value Main Colour Front Side Back Side nbsp nbsp 1 2 dinar Brown Peach Old Bahrain Court Bahrain International Circuit nbsp nbsp 1 dinar Red Al Hedya Al Khalifiya School Bahrain first school Galloping Arabian Horses and the Sail and Pearl monument nbsp nbsp 5 dinars Blue Shaikh Isa House in Muharraq and Riffa Fort First oil well in Bahrain and Aluminum Bahrain Alba nbsp nbsp 10 dinars Green King Hamad ibn Isa Al Khalifah Shaikh Isa Bin Salman Al Khalifa Causeway nbsp nbsp 20 dinars Brown light blue King Hamad ibn Isa Al Khalifah Al Fateh Islamic CenterSee also editGulf rupee Economy of Bahrain Cooperation Council for the Arab States of the GulfReferences edit Monetary Policy CBB www cbb gov bh Retrieved 2022 09 15 a b The Banknotes of Bahrain www pjsymes com au Central Bank of Bahrain Current Coins 500 Fils March 15 2012 Archived from the original on 2012 03 15 Bahrain coin may become collector s item www tradearabia com Current Coins CBB www cbb gov bh a b Linzmayer Owen 2011 Bahrain The Banknote Book San Francisco CA www BanknoteNews com Retrieved 2011 08 21 Central Bank of Bahrain Third Issue 1993 Archived from the original on 2017 09 05 Retrieved 2017 09 18 Pagina 12 www pagina12 com ar Bahrain 20 Dinar Notes www pjsymes com au Archived copy Archived from the original on 2018 03 17 Retrieved 2017 09 18 a href Template Cite web html title Template Cite web cite web a CS1 maint archived copy as title link Bahrain new 10 and 20 dinar notes B309 B310 reported Banknote News Upgraded BD20 amp BD10 of fourth issue 2016 Sources edit Krause Chester L Clifford Mishler 1991 Standard Catalog of World Coins 1801 1991 18th ed Krause Publications ISBN 0873411501 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 External links editHistorical and current banknotes of Bahrain Portals nbsp Asia nbsp Bahrain nbsp Money nbsp Numismatics Retrieved from https en wikipedia org w index php title Bahraini dinar amp oldid 1206440777, wikipedia, wiki, book, books, library,

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