Thedinar(Arabic:دينار بحرينيDīnār Baḥrēnī) (sign:.د.بorBD;code:BHD) is thecurrencyofBahrain.It is divided into 1000fils(فلس). The Bahraini dinar is abbreviated د.ب (Arabic) orBD(Latin). It is usually represented with three decimal places denoting the fils.
| دينار بحريني(Arabic) | |
|---|---|
 | |
| ISO 4217 | |
| Code | BHD (numeric:048) |
| Subunit | 0.001 |
| Unit | |
| Symbol | .د.ب (Arabic) or BD (Latin) |
| Denominations | |
| Subunit | |
| 1⁄1000 | fils |
| Banknotes | |
| Freq. used | BD1⁄2,BD 1, BD 5, BD 10, BD 20 |
| Coins | |
| Freq. used | 5, 10, 25, 50, 100 fils, BD1⁄2(500 fils) |
| Demographics | |
| Date of introduction | 1965 |
| User(s) |  Bahrain Abu Dhabi(Formerly) |
| Issuance | |
| Monetary authority | Central Bank of Bahrain |
| Website | www |
| Valuation | |
| Inflation | 0,85% |
| Source | The World Factbook,2022 |
| Pegged with | U.S. dollar(USD) $1 USD = 0.376 BD |
The namedinarderives from the Romandenarius.
As of December 2021, the Bahraini dinar is the second highest-valued currency unit, at 2.65United States dollarsper unit (the highest-valued unit is theKuwaiti dinarat $3.32).
History
editThe Bahraini dinar was introduced in 1965, replacing theGulf rupeeat a rate of 10 rupees = 1 dinar. It was initially equivalent to3⁄4of apound sterling(15shillings). When sterling was devalued in 1967, the dinar was repegged to 17s 6d sterling (7⁄8of a pound). Bahraini coins and notes were introduced at that time.
Initially,Abu Dhabiadopted the Bahraini dinar but changed to thedirhamin 1973, with 1 dirham = 100 fils = 0.100 dinar.
Exchange rate
editIn December 1980, the dinar was officially pegged to theIMF'sspecial drawing rights(SDRs). In practice, it is fixed at $1USD= 0.376 BHD, which translates to approximately 1 BHD = US$2.65957[1]and, consequently, just over 9.9734Saudi Arabian riyals.This rate was made official in 2001 via Decree (48) Article 1, andSaudi riyalsare accepted at all points of sale in Bahrain at 10 to 1, with the exception of the Saudi 500 riyal note which is only accepted in major supermarkets, airports and electronic shops.
BeforeMalta's adoption of theeuroon 1 January 2008, it was the third-highest-valued currency unit after theKuwaiti dinarandMaltese lira.After Malta adopted the euro, the dinar became the second highest-valued currency unit.
| Current BHD exchange rates | |
|---|---|
| FromGoogle Finance: | AUDCADCHFCNYEURGBPHKDJPYUSD |
| FromYahoo! Finance: | AUDCADCHFCNYEURGBPHKDJPYUSD |
| FromXE.com: | AUDCADCHFCNYEURGBPHKDJPYUSD |
| From OANDA: | AUDCADCHFCNYEURGBPHKDJPYUSD |
Note: Rates obtained from these websites may contradict with pegged rate mentioned above
Coins
editIn 1965, coins were introduced in denominations of 1, 5, 10, 25, 50 and 100 fils. The 1, 5 and 10 fils were struck in bronze, with the others in cupro-nickel. The 1 fils coin was not produced after 1966 and no longer circulates. Abimetallic100 fils coin was introduced in October 1992.[2]In 1992, brass replaced bronze in the 5 and 10 fils.
A bimetallic 500 fils coin was released in 2000[3]with thePearl Monumenton the obverse. The coin was discontinued in response to theuprising in Bahrain,which resulted in the demolition of the monument on 18 March 2011, although the Bank stated that minting had ceased some time prior to that. The coin remained in use but was no longer released back into circulation after reaching banks.[4]
| Coins of the Bahraini dinar[5] | |||||||
|---|---|---|---|---|---|---|---|
| Image | Value | Diameter | Weight | Composition | Obverse | Reverse | First Minted Year |
| 1 fils | 15 mm | 1.5 g | Bronze | Palm tree | Value | 1965 | |
| 5 fils | 18.5 mm | 2 g | Bronze | Palm tree | Value | 1965 | |
 |
10 fils | 23.5 mm | 4.75 g | Bronze | Palm tree | Value | 1965 |
 |
25 fils | 16.5 mm | 1.75 g | Cupro-nickel | Palm tree | Value | 1965 |
 |
50 fils | 20 mm | 3.1 g | Cupro-nickel | Palm tree | Value | 1965 |
 |
100 fils | 25 mm | 6.5 g | Cupro-nickel | Palm tree | Value | 1965 |
| 5 fils | 19 mm | 2.50 g | Brass | Palm tree | Value | 1992 | |
| 10 fils | 21 mm | 3.35 g | Brass | Palm tree | Value | 1992 | |
 |
25 fils | 20 mm | 3.5 g | Cupro-nickel | Dilmo Civilization seal | Value | 1992 |
 |
50 fils | 22 mm | 4.5 g | Cupro-nickel | Dhow(Bahraini boat) | Value | 1992 |
 |
100 fils | 24 mm | 6 g | Brass ring, cupro-nickel centre | Coat of Arms | Value | 1992 |
For a wider history surrounding currency in the region, seeBritish currency in the Middle East.
Banknotes
editOn 16 October 1965 the Bahrain Currency Board introduced notes in denominations of1⁄4,1⁄2,1, 5 and 10 dinars; a 100-fils note was introduced on September 2, 1967.[6]
In 1973, theBahrain Monetary Agencytook over the issuance of paper money, and starting in July 1978 with a 20 dinar note, it introduced a new family of notes dated 1973 in Arabic. Denominations of1⁄2,1, 5 and 10 dinars were released on 16 December 1979. The 100-fils note of the Bahrain Currency Board was withdrawn in November 1980 and the remainder of the notes were withdrawn on 31 March 1996, remaining exchangeable until one year afterwards.[2]
The third issue of notes (the second by the Bahrain Monetary Agency) with the same denominations of1⁄2to 20 dinars was released in March 1993.[7]This series was upgraded during 1998 with various modifications to colour and security features. However, a fake order for banknotes had recently been placed with the Argentinian printerCiccone Calcograficawho did not verify it with the legitimate authorities in Bahrain and obtained genuine banknote paper fromArjo Wigginsto print over 7 million unauthorised replicas of the 20-dinar note (of the 1993 design), equivalent to US$365 million.[8]These differed from genuine notes in two respects: different background shading to the Arabic name of the Bahrain Monetary Agency, and a large gap between the two Arabic letters in the horizontal serial number.[9]These unauthorisednoteswere smuggled through various African and European countries by air and presented for exchange in Belgium, Switzerland and the Gulf around June 1998, just as the upgraded 20-dinar note was being released in Bahrain. The large amounts raised suspicions and were soon detected as notes that had not been printed by the authorised printer,De La Rue.The Bahrain Monetary Agency allowed individuals who had mistakenly accepted the unauthorised notes to exchange them for face value at banks between 8–14 June 1998, then quickly recalled all 20-dinar notes on 30 July 1998. The unauthorised notes, being replicas of the 1993 design, were in purple and without ahologram.Despite this the upgraded June 1998 notes, also in purple but with a hologram were also withdrawn. On 1 August 1998 a new 20-dinar note, of the same design as the upgraded note (with a hologram) but inpeach colour,was released. Thus, the genuine June 1998 design was only in circulation for about 7 weeks and is therefore rarely seen by collectors.[10]All other banknotes of the Bahrain Monetary Agency remain exchangeable.
On 7 September 2006,[6]the Bahrain Monetary Agency was renamed theCentral Bank of Bahrain.On 17 March 2008, the Central Bank of Bahrain introduced its first series of notes (Bahrain's 4th series) reflecting the country's heritage as well as its modern development.
On 4 September 2016, the Central Bank of Bahrain introduced upgraded versions of the 10- and 20-dinar notes with enhanced security features (SPARK and Motion thread) and tactile lines added at center right front for the visually impaired.[11][12]
| 4th series (154mmx 74mm) | |||||
|---|---|---|---|---|---|
| Image | Value | Main Colour | Front Side | Back Side | |
|
|
1⁄2dinar | Brown/Peach | Old Bahrain Court | Bahrain International Circuit |
|
|
|
1 dinar | Red | Al Hedya Al Khalifiya School (Bahrain first school) | GallopingArabian Horsesand the Sail and Pearl monument |
|
|
5 dinars | Blue | Shaikh IsaHouse in Muharraq andRiffa Fort | First oil well in Bahrainand Aluminum Bahrain (Alba) |
|
|
10 dinars | Green | KingHamad ibn Isa Al Khalifah | Shaikh Isa Bin Salman Al Khalifa Causeway |
|
|
20 dinars | Brown/light blue | King Hamad ibn Isa Al Khalifah | Al Fateh Islamic Center |
See also
editReferences
edit- ^"Monetary Policy | CBB".www.cbb.gov.bh.Retrieved2022-09-15.
- ^ab"The Banknotes of Bahrain".www.pjsymes.com.au.
- ^"Central Bank of Bahrain - Current Coins 500 Fils".March 15, 2012. Archived fromthe originalon 2012-03-15.
- ^"Bahrain coin may become collector's item".www.tradearabia.com.
- ^"Current Coins | CBB".www.cbb.gov.bh.
- ^abLinzmayer, Owen (2011). "Bahrain".The Banknote Book.San Francisco, CA: www.BanknoteNews.com.Retrieved2011-08-21.
- ^"Central Bank of Bahrain - Third Issue (1993)".Archived fromthe originalon 2017-09-05.Retrieved2017-09-18.
- ^"Página/12".www.pagina12.com.ar.
- ^"Bahrain - 20 Dinar Notes".www.pjsymes.com.au.
- ^"Archived copy".Archived fromthe originalon 2018-03-17.Retrieved2017-09-18.
{{cite web}}:CS1 maint: archived copy as title (link) - ^"Bahrain new 10- and 20-dinar notes (B309, B310) reported".Banknote News.
- ^"Upgraded BD20 & BD10 of fourth issue 2016".
Sources
edit- Krause, Chester L.; Clifford Mishler (1991).Standard Catalog of World Coins:1801–1991(18th ed.). Krause Publications.ISBN0873411501.
- Pick, Albert (1994).Standard Catalog of World Paper Money:General Issues.Colin R. Bruce II and Neil Shafer (editors) (7th ed.). Krause Publications.ISBN0-87341-207-9.
