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

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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.
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    3. From a Dinar Speculator member – Iraq and the GCC
    4. Is the size of my Dinar Note important?
    4 responses to "Four countries set to replace currency with new “Gulf Dinar”"
    Josh Maxwell said:
    June 20, 2009

    Hi there,

    I looked over your blog and it looks really good. Do you ever do link exchanges on your blog roll? If you do, I’d like to exchange links with you.

    Let me know if you’re interested.

    Thanks..

    AnnaHopn said:
    June 21, 2009

    I have already seen it somethere…

    admin said:
    June 22, 2009

    Josh, hit the contact link up top, I’ll trade links with you.

    matilde barrett said:
    November 18, 2009

    Adam, thanks for the informative e-mails you send. I will be positive about my investment, and go on with my life, and when we least expect it, it will happen. :)

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