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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?

    This entry was posted on Saturday, June 20th, 2009 at 6:46 am and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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

    1. avatar Josh Maxwell says:
      June 20, 2009 at 7:00 am

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      Let me know if you’re interested.

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    2. avatar AnnaHopn says:
      June 21, 2009 at 2:26 am

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    3. avatar admin says:
      June 22, 2009 at 8:04 am

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

    4. avatar matilde barrett says:
      November 18, 2009 at 8:02 am

      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. :)