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The 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.
Bahrain created the Bahraini dinar in 1965, at the rate of 1 dinar = 10 rupees. Qatar and most of the Trucial States (after 1971, United Arab Emirates) adopted the Qatar and Dubai riyal, which was equal to the Gulf rupee prior to its devaluation, effectively the Indian rupee value. Abu Dhabi used the Bahraini dinar until 1973.
The East African shilling was launched at par with the shilling sterling at the value of half an Indian rupee. In 1959, as a measure to prevent gold smuggling, the Reserve Bank of India and the Indian government, in conjunction with the British authorities, replaced the Indian rupee in the Gulf States with the Gulf rupee at a 1:1 parity.
In 1992, a new stainless steel rupee coin, smaller and lighter than the older rupee, was minted, alongside a 5 rupee Cupronickel coin. In 2005, the 10 rupee coin was minted for the first time. Higher denomination coins were introduced due to an increasing demand for change and the increasing cost of printing ₹2, ₹5 and ₹10 banknotes.
Five-rupee coins, made from brass, are being minted by the Reserve Bank of India (RBI). In 1997 the 20 paise coin was discontinued, followed by the 10 paise coin in 1998, and the 25 paise in 2002. Between 2005 and 2008 new, lighter fifty-paise, one-, two-, and five-rupee coins were introduced, made from ferritic stainless steel.
British Indian 1 rupee, 1917 Rupee gold coin of Princely State of Bahawalpur. The 1911 accession to the throne of the King-Emperor George V led to the famous "pig rupee". On the coin, the king appeared wearing the chain of the Order of the Indian Elephant. Through poor engraving, the elephant looked very much like a pig.
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The dinar (/ d ɪ ˈ n ɑː r /) is the name of the principal currency unit in several countries near the Mediterranean Sea, with a more widespread historical use. The English word "dinar" is the transliteration of the Arabic دينار ( dīnār ), which was borrowed via the Syriac dīnarā from the Latin dēnārius .