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It was introduced as a replacement for the Indian rupee for circulation exclusively outside the country. [2] Effectively, the common currency area now did not include India. On 6 June 1966, India devalued the Gulf rupee against the Indian rupee. Following the devaluation, several of the states still using the Gulf rupee adopted their own ...
This is a list of historical currencies. Ancient Mediterranean Greece ... Roman currency; ... Gulf rupee – Bahrain, Kuwait, ...
The Indian rupee was not only the currency of India but also the currency of an extended region to its west, which stretched across the Indian Ocean to the east coast of Africa, up through the horn of Africa, through Aden and Muscat in Southern Arabia and Eastern Arabia, and along the Arabian coast of the Persian Gulf, extending even as far ...
The Indian rupee was a silver-based currency during much of the 19th century, which had severe consequences on the standard value of the currency, as stronger economies were on the gold standard. During British rule, and the first decade of independence, the rupee was subdivided into 16 annas .
View history; Tools. Tools. move to sidebar hide. Actions Read; ... 1980s; 1990s; 2000s; Pages in category "Currencies introduced in 1959" ... Gulf rupee This page ...
The Indian rupee remained the de facto currency of the Trucial States as well as the other Persian Gulf states, such as Qatar, Bahrain, Kuwait and Oman, until the Gulf rupee was introduced in 1959. The Gulf rupee was used until the Gulf countries introduced their own currencies after the great devaluation of the rupee. [3]
On 6 June 1966, India devalued the Gulf rupee against the Indian rupee. Following the devaluation, several of the states still using the Gulf rupee adopted their own currencies. Oman continued to use the Gulf rupee until 1970, with the government backing the currency at its old peg to the pound, when it adopted the Saidi rial.
Succeeded by: Gulf rupee Ratio: at par: Currency of Kuwait 1899 – 1959: Currency of Muscat 1891 – 1959: Currency of Qatar 1892 – 1959: Currency of Trucial States 1892 – 1959: Preceded by: Some Ottoman currency: Currency of Iraq ca. 1920 – 1931 Note: some source says it ended in 1932: Succeeded by: Iraqi dinar Ratio: 1 dinar = 13 1/3 ...