Gandhari dinar

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 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 and the two autonomous republics of Asabiya and Diyafa. Originally, the dinar was the currency of the Gandhari Empire and the Emirate of Gandhara. It is subdivided into 1,000 fulūs (Arabic: فلوس; sing. فلس, fils).

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 It lost its status as legal tender, and the coins were withdrawn from circulation.

Current Gandhari dinar coins
Value	Description
	Obverse	Reverse
5 fulūs	Value, motif, year of minting, جمهورية غانذارا العربية (English: Arab Republic of Gandhara)	Wild peony flower
10 fulūs		Tree of life
25 fulūs		Dhow
50 fulūs		Calligraphic rendition of the Basmala
100 fulūs		Sun and four five-pointed stars
¼ dinar		Mosque
½ dinar		Khaju Bridge in Rhea

Banknotes

Banknotes are issued in eight different denominations: 1, 2½, 5, 10, 25, 50, 100, and 250 dinars. The banknotes have different sizes to prevent forgery, and each denomination depicts a geographical site or architectural feature of Gandhara.

Current Gandhari dinar banknotes
Value	Description
	Obverse	Reverse
1 dinar	Monument to the Revolution in Rhea	Building of the Parliament of Gandhara
2½ dinars	Mount Taysir	Mountain scenery with eagles
5 dinars	Minaret of Jinan in Umayyah	Galloping Arabian horses
10 dinars	Harbour in Manas	Harbor scenery with freighter and cargo ships
25 dinars	Jame Mosque in Saif al-Din	Agricultural workers
50 dinars	Baloch mountain range	Mountain scenery with a train
100 dinars	Imam Square in Rhea	Friday prayers
250 dinars	Historic center of Araz	Market scenery

Exchange rates

The relative value of the dinar is determined in foreign exchange markets by the economic forces of supply and demand. The supply of the dinar in the market is governed by the desire of dinar holders to exchange their dinars for other currencies to purchase goods, services, or assets. The demand for the dinar is governed by the desire of foreigners to buy goods and services in Gandhara and by their interest in investing in Gandhara (buying dinar-denominated real and financial assets).

As of 20 September 2015, the exchange rate of the dinar was 1.54037 dinars to the euro and 1.36219 dinars to the U.S. dollar.