Gandhari dinar

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Gandhari dinar
دينار غانذاري (Arabic)
ISO 4217 code GAD
Central bank Central Bank of Gandhara
User(s)  Gandhara
 Asabiya
 Diyafa
Inflation
Source
Method
2.9%, July 2015
[1]
CPI
Subunit
1/1000

fils
Symbol د.غ (Arabic) or GD (Latin)
Coins
Freq. used

5, 10, 25, 50, 100 fulūs,
¼, ½ dinar
Banknotes
Freq. used
Rarely used

1, 2½, 5, 10, 25, 50, 100 dinars
250 dinars

The dinar (sign: د.غ; code: GAD) is the currency of Gandhara. It is subdivided into 1,000 fulūs (singular: fils). As of 5 October 2014, the exchange rate was 1.65743 GAD per euro and 1.32466 GAD per U.S. dollar.

Etymology

The name "dinar" (Arabic: دينار, dīnār) was borrowed via the Syriac dīnarā from the Greek δηνάριον (denárion), which derived from the Latin dēnārius.

History

An early version of the dinar, the gold dinar, was used throughout much of the Islamic world from the 8th century onward. The dinar was used alongside silver coins, such as the dirham. In 1715, the Sultan of Gandhara introduced the first regular minting of the dinar in silver, known as the Gandhari dinar. The dinar gradually replaced other silver coin denominations circulating in Gandhara.

During the 19th century the dinar was debased, and, after the middle of the 19th century, the rapidly depreciating paper money predominated in Gandhara's circulation. In 1897, a gold dinar was introduced, marking the change to a gold standard. With the outbreak of World War I, the gold standard peg was dropped and the dinar fell in value, suffering from hyperinflation in the early 1920s. The dinar was redenominated on 1 January 1924, with one new dinar equaling 1,000 old dinars.

After the Gandhari Revolution, new series of coins and banknotes were introduced.

Coins

Coins are available in denominations of 5, 10, 25, 50, 100 fulūs, and ¼ and ½ dinar. The 1 fils coins ceased to be minted in 1980. It lost its status as legal tender, and the coins were withdrawn from circulation.

Value Description
Obverse Reverse
5 (٥) fulūs Value, motif, year of minting, "Arab Republic of Gandhara" Wild peony flower
10 (١٠) fulūs Tree of life
25 (٢٥) fulūs Dhow
50 (٥٠) fulūs Calligraphic rendition of the Basmala
100 (١٠٠) fulūs Sun and four five-pointed stars
¼ (١/٤) dinar Mosque
½ (١/٢) dinar Khaju Bridge in Rhea

References

  1. ^ "Gandhara July inflation, overall and core, stabilizing near 2.9 per cent". Retrieved 19 September 2015.