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guys this thread for your opinion about the new GCC unified currency...
what do you recomend for the new currency name ?? :cheers:

Riyal :P

Dinar

Dinar, and the smaller Dirham!

I think they should come up with something new other than the current names. We need something special and different like the Euro. How about something like 'Mal'. Mal is an Arabic word that means money. It is easy to write and say and no country has ever used it before. This is just an example. I'm sure we can be alot more creative.

I think they should come up with something new other than the current names. We need something special and different like the Euro. How about something like 'Mal'. Mal is an Arabic word that means money. It is easy to write and say and no country has ever used it before. This is just an example. I'm sure we can be alot more creative.

well thats a good one thanx body ;)

let say 1 mal
2 malen
5 malat
or 5 amwal
20 mal
sounds good ;)

Dinar because its the strongest currency if we consider the kuwaiti dinar, the strongest currency in the region. The Arabian Dinar ;)

here is a chart comparing all to 1 US dollar, they are organized from strongest to weakest. (I also added the currencies of other countries for those who are just curious ;))

1.00 USD = 0.289160 KWD (Kuwaiti Dinars) *The King of all currencies ;)*
1.00 USD = 0.376870 BHD (Bahraini Dinars)
1.00 USD = 0.384995 OMR (Omani Riyals)
1.00 USD = 3.64060 QAR (Qatari Riyals)
1.00 USD = 3.67160 AED (Emarati Dirhams)
1.00 USD = 3.75030 SAR (Saudi Riyals)


Other countries

1.00 USD = 0.708800 JOD (Jordanian Dinars) *I'm shocked, I'ts VERY! strong*
1.00 USD = 4.48512 ILS (Israeli New Shekels)
1.00 USD = 8.63300 MAD (Moroccan Dirhams)
1.00 USD = 9,147.00 IRR (Iranian Riyals)

The Arabian Dollar? :S could be an option!

^ that's a very corny name... it should be something original!
Btw, wasn't coins (gold??) refered to as Dinars back in Holy Prophet's (PBUH) era?

safqa_tijariya,

A higher exchange rate does not necessarily mean that a currency is stronger than another. One Japanese Yen is about 140 Jordanian Dinar. That does not mean that the Dinar is stronger than the Yen at all. A country can simply drop a zero from it’s currency’s exchange rate and still we can not say it became stronger. There are another aspect in which currency is evaluated.

safqa_tijariya,

A higher exchange rate does not necessarily mean that a currency is stronger than another. One Japanese Yen is about 140 Jordanian Dinar. That does not mean that the Dinar is stronger than the Yen at all. A country can simply drop a zero from it’s currency’s exchange rate and still we can not say it became stronger. There are another aspect in which currency is evaluated.

you're right riyadhi....by the way...i think u wanted to say one jordanian dinar is about 140 japanese yen...not the other way around...

First of all.....i don't understand wats goin on here.......i mean wat UNIFIED CURRENCY?
which country is gettin a new currency?........or are all the GCC countries makin a united currency? Plz sumbuddy explain me..........

^^ they want all of the gulf states to have one currency by 2010

safqa_tijariya,

A higher exchange rate does not necessarily mean that a currency is stronger than another. One Japanese Yen is about 140 Jordanian Dinar. That does not mean that the Dinar is stronger than the Yen at all. A country can simply drop a zero from it’s currency’s exchange rate and still we can not say it became stronger. There are another aspect in which currency is evaluated.

That's true to some extent. But still the Kuwaiti Dinar is one of the strongest currencies in the region. The reason for the high exchange rate is due to the Golden Standard (when it was in effect).

I read a study saying that it will be closer to the exchange rate of the UAE, Qatar and Saudi Arabia :)

1.00 USD = 0.289160 KWD (Kuwaiti Dinars) *The King of all currencies ;)*
1.00 USD = 0.376870 BHD (Bahraini Dinars)
1.00 USD = 0.384995 OMR (Omani Riyals)
1.00 USD = 3.64060 QAR (Qatari Riyals)
1.00 USD = 3.67160 AED (Emarati Dirhams)
1.00 USD = 3.75030 SAR (Saudi Riyals)


Other countries

1.00 USD = 0.708800 JOD (Jordanian Dinars) *I'm shocked, I'ts VERY! strong*
1.00 USD = 4.48512 ILS (Israeli New Shekels)
1.00 USD = 8.63300 MAD (Moroccan Dirhams)
1.00 USD = 9,147.00 IRR (Iranian Riyals)

these craps has no relation of being strong or weak, you must take economy classes. lol

dont forget the GCC currencies are affined with US Dollar

Dinar

i second that, would create pride for all ppls of the middle east, the dinar is after all a symbol of the bygone caliphs.

I read a study saying that it will be closer to the exchange rate of the UAE, Qatar and Saudi Arabia :)

Oh then I'm totally against it :)

these craps has no relation of being strong or weak, you must take economy classes. lol

dont forget the GCC currencies are affined with US Dollar

What's up with you and that word? You've been using it quite frequently lately.

Whatever Currency was referred to during the Prophet's (pbuh) time should be implemented.

Was it Dinar?

What's up with you and that word? You've been using it quite frequently lately.

pardon me, i am in a bad mood these days

pardon me, i am in a bad mood these days

It's OK, I was just shocked to hear it from you. I hope you feel better soon :)

That's true to some extent. But still the Kuwaiti Dinar is one of the strongest currencies in the region. The reason for the high exchange rate is due to the Golden Standard (when it was in effect).

It is one of the strongest in the region with no doubt.

if everyone expects his currency name or rate will be taken will we never have a common currency :sleepy:

if everyone expects his currency name or rate will be taken will we never have a common currency :sleepy:

I was just joking :) Anyway we just have to wait until 2007 so that we can know the exact details :)

Whatever Currency was referred to during the Prophet's (pbuh) time should be implemented.

Was it Dinar?

why? its just a name.

I think it should be new name to foster a collective GCC block identity.

because it reminds us about a great history.

because it reminds us about a great history.

^^By not using the name of that era, you'll forget history, our prophets legacy (peace be upon him)? Just because its a different name doesn't mean you'll forget, its just merely a name and a name of a material good (money) at that.

Its something the GCC needs to decide on, if its decided as Dinar, then so be it.

^^ lol, that isnt what I meant

^^LOL, i know, to me its just that a reminder of history seems to be a weak reason. But hey if its good enough for the member countries, why not.

^^LOL, i know, to me its just that a reminder of history seems to be a weak reason. But hey if its good enough for the member countries, why not.


Actually all societies strive for naming conventions that remind them of antiquity,

In Islam the prophet's time is the classical period...

Actually all societies strive for naming conventions that remind them of antiquity,

In Islam the prophet's time is the classical period...

That doesn't seem to be the case for currencies though.

^^ I don't know. Currencies change names often, trying to find new ones. The Dutch guilder now is replaced by the Euro. The Australian Pound and Shillings was replaced with the "Australian dollar" in 1966. The Argentine Austral was renamed new, a lot of other currencies have gone this route, usually reflecting a new politican climate.

ill bet they will name it riyal
and the smaller units fils

ill bet they will name it riyal
and the smaller units fils

nah riyal is to ugly lol, If its not dinar let it be dirham.

I'm hoping for "Gulf Dinar"