Four countries set to replace currency with new “Gulf Dinar”



Saudi Arabia, Kuwait, Qatar, and Bahrain are all pushing forward with the plan to use a common currency – the Gulf Dinar. While the GCC has not announced the forecasted value of the currency, we know that it will run in tandem with the current currencies for a few years to get people used to it. Current bills and coins will then be slowly removed from circulation over the next 4-5 years.

The GCC also has not set a value on it, but economics professor Wadei Ahmed Kably tells Dinar Speculation sources that he expects it to be set at SR10 (about US$2.66).

Quick info on the countries involved, as related to oil and natural gas.

  • Qatar is the largest supplier of liquified natural gas and the third largest supply of natural gas reserves in the world.
  • Saudi Arabia is the largets oil producer in OPEC.
  • Kuwait contains about 8% of the world’s oil reserves – about 104 billion barrels of proven oil.
  • Bahrain has little oil, but has become a leader in financial roles such as banking, heavy industries, tourism, and retail.
  • Related posts:

    1. Gulf “Single Currency” hopes are dashed
    2. Monetary Policy in Iraq set to change?
    3. Dinar Currency Scam!
    4. Oil: The parliament will discuss the oil and gas law during its meetings next Read more: http://dinarvets.com/forums/index.php?/topic/60518-oil-the-parliament-will-discuss-the-oil-and-gas-law-during-its-meetings-next/#ixzz1I6uvz7YX
    5. Iraq to delete the 0′s on local currency?

    4 Responses to “Four countries set to replace currency with new “Gulf Dinar””

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