Search results
Results from the WOW.Com Content Network
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 .
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 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 .
The currency's fixed exchange rate and restricted trading options make it an particularly unattractive investment for international investors. As of September 2024, one U.S. dollar remains worth approximately 1,310.6 Iraqi dinars, underscoring the currency's current limited international value and speculative nature. [36]
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.
Get AOL Mail for FREE! Manage your email like never before with travel, photo & document views. Personalize your inbox with themes & tabs. You've Got Mail!
Paper money or electronic money can be used, as long as, it is backed by one of these commodities at a fixed exchange rate (in other words the paper is just a contract stipulating that the bearer can redeem the paper for a fixed measure (weight) of that particular commodity). Until 1971, most currencies of the world were backed by gold.
The 1994 dinar (ISO 4217 code: YUG) was the shortest-lived out of all incarnations of Yugoslav currency, as hyperinflation continued to intensify, [4] and only one coin (1 dinar) was issued for it. Towards the end of the 1994 dinar, the National Bank overprinted and reissued 10 million dinara banknotes from the 1992 dinar (right).