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The Saudi riyal was worth 1.065 Gulf rupees, whilst the Qatar and Dubai riyal was equal to the Gulf rupee prior to its devaluation. Initially pegged with sterling at one shilling and six pence (1s. 6d.) per riyal, its value was changed to one shilling and nine pence (1s. 9d.) when sterling was devalued in 1967, maintaining its value in relation ...
Fixed currency Anchor currency Rate (anchor / fixed) Abkhazian apsar: Russian ruble: 0.1 Alderney pound (only coins) [1]: Pound sterling: 1 Aruban florin: U.S. dollar: 1.79
Qatari riyal [16] QAR Qatar: ر.ق [17] Saudi riyal [18] SAR Saudi Arabia: SR [19] Yemeni rial [20] YER
Reason: devaluation of the Gulf rupee before delivery of replacement Ratio: 1 riyal = 1.065 rupee: Currency of Trucial States 1959 – 1966 Succeeded by: Bahraini dinar Location: Abu Dhabi Reason: devaluation of the Gulf rupee before delivery of replacement Ratio: 1 dinar = 10 rupees = 3 ⁄ 4 pound sterling = 15 shillings sterling: Currency of ...
All the Trucial States except Abu Dhabi adopted the Qatar and Dubai riyal, which was equal to the Gulf rupee prior to the devaluation. These emirates briefly adopted the Saudi riyal during the transition from the Gulf rupee to the Qatar and Dubai riyal. Abu Dhabi used the Bahraini dinar, at a rate of 10 Gulf rupees = 1 dinar. In 1973, the UAE ...
The Qatar Armed Forces consist of 12,000 personnel in the Qatari Emiri Land Forces, 2,500 in the Navy, 2,000 in the Air Force, and 5,000 in the Internal Security Forces. [176] In 2008 Qatar spent US$2.6 billion on its military, which was 2% of the GDP, [ 177 ] and its military spending increased to US$7.49 billion as of 2022. [ 176 ]
The Indian rupee was the official currency of Dubai and Qatar until 1959, when India created a new Gulf rupee (also known as the "external rupee") to hinder the smuggling of gold. [16] The Gulf rupee was legal tender until 1966, when India significantly devalued the Indian rupee and a new Qatar-Dubai riyal was established to provide economic ...
The riyal briefly rose to a 20-year high after the US Federal Reserve cut interest rates on September 18, 2007, and the SAMA chose not to follow suit, partially due to concerns about the inflationary effects low interest rates and a lower value for the riyal. [23] [24] The riyal returned to its peg against the U.S. dollar in early December 2007 ...