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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.
Omani rial [64] OMR Oman: ر.ع [65] Baisa [64] Pakistani Rupee [66] PKR Pakistan: Rs [66] [67] Paisa [66] Israeli new shekel [34] ILS Palestine ₪ [34] [35] Agora [34] [35] Philippine peso [68] PHP Philippines ₱ [68] [69] Sentimo [68] [69] Qatari riyal [70] QAR Qatar: ر.ق [71] Dirham [70] Russian Ruble [2] RUB Russia: руб. [1] [2 ...
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 ...
Rupee. Afghan rupee – Afghanistan; Bhutanese rupee – Bhutan; Burmese rupee – Burma; Danish Indian rupee – Danish India; East African rupee – Kenya, Somalia, Tanzania and Uganda; French Indian rupee – French India; Gulf rupee – Bahrain, Kuwait, Oman, Qatar and United Arab Empirates; Hyderabad rupee – Hyderabad; Indian rupee ...
On 7 May 1970, the Sultanate of Oman replaced the Gulf rupee with the Omani rial unit that was created at par with the pound sterling, so ending the existence of the Gulf rupee. Two years later, after the pound sterling was allowed to float on 23 June 1972, the Omani rial began to diverge from its sterling parity.
This is a list of tables showing the historical timeline of the exchange rate for the Indian rupee (INR) against the special drawing rights unit (SDR), United States dollar (USD), pound sterling (GBP), Deutsche mark (DM), euro (EUR) and Japanese yen (JPY). The rupee was worth one shilling and sixpence in sterling in 1947.
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. [14] 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 ...
These foreign-currency deposits are the financial assets of the central banks and monetary authorities that are held in different reserve currencies (e.g., the U.S. dollar, the euro, the pound sterling, the Japanese yen, the Swiss franc, the Indian rupees and the Chinese renminbi) and which are used to back its liabilities (e.g., the local ...