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GDP per capita soared by more than 380% in the seventies (1970–1980: USD 280–1,369). But this proved unsustainable and it collapsed to a cumulative 10% growth in the turbulent eighties (1980–1990: USD 1,369–1,507), rising again to almost 50% cumulative growth in the nineties (1990–2000: USD 1,507–2,245), signifying the impact of successful diversification.
Inflation was 4.9% in fiscal year 2007–08 and 3.5% in fiscal year 2008–09. [ citation needed ] However, the value of the currency has been falling since then, and between 2008 and 2018, the dinar depreciated by about 55% against the U.S. dollar, from 76¢ to 34¢, and about 46% against the euro, from 55 cents to 30 cents.
Tunisia had a historically low inflation. The Tunisian Dinar was less volatile in 2000–2010 than the currencies of its oil-importing neighbors, Egypt and Morocco. Inflation was 4.9% in fiscal year 2007–08 and 3.5% in fiscal year 2008–09. [citation needed]
At the end of 2007, foreign reserves totaled US$99.3 billion, up from US$12 billion in 2000 and the equivalent of almost four years of imports. [38] In 2007 the estimated inflation rate was 4.6 percent. [27] In 2010, the IMF voiced concerns about poor management of Algeria's monetary system and inflation. [39]
In 1992, a new series of coins was introduced consisting of 1 ⁄ 4, 1 ⁄ 2, 1, 2, 5, 10, 20, 50 and 100 dinars. A 200 dinar bi-metallic coin was issued in 2012 to commemorate Algeria's 50th anniversary of independence. [citation needed] The 10, 20, 50, 100, and 200 dinar coins are bimetallic. Coins in general circulation are 5 dinars and higher.
The modern dinar's historical antecedents are the gold dinar and the silver dirham, the main coin of the medieval Islamic empires, first issued in AH 77 (696–697 AD) (Late Antiquity) by Caliph Abd al-Malik ibn Marwan. The word "dinar" derives from the Latin word "dēnārius," a silver coin of ancient Rome, which was first minted about c. 211 BC.
Gold dinar of Umayyad Caliph Abd al-Malik ibn Marwan, minted at Damascus, Syria in AH 75 (697/698 CE), having a weight of almost 1 mithqāl (4.25 grams) Mithqāl ( Arabic : مثقال ) is a unit of mass equal to 4.25 grams (0.137 ozt ) which is mostly used for measuring precious metals, such as gold , and other commodities, like saffron .
The Islamic State dinar (Arabic: دينار الدولة الإسلامية), or simply the gold dinar, [1] was the official currency of the Islamic State from 2014 to 2019. Subdivided into dirhams and fulûs , it was modelled after the historical gold dinar that was first introduced in the Muslim world during the time of the Umayyad Caliphate .