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Wednesday, August 2, 2017

Arab currencies in the Middle East and North Africa

The Arab World consists of 22 countries in the Middle East and North Africa represented by the  Arab League ,members of the league are : Algeria, Bahrain, the Comoros Islands, Djibouti, Egypt, Iraq, Jordan, Kuwait, Lebanon, Libya, Morocco, Mauritania, Oman, Palestine, Qatar, Saudi Arabia, Somalia, Sudan, Syria, Tunisia, the United Arab Emirates, and Yemen. Arab countries have a rich diversity of wealth , ethnic, linguistic,and religious communities. . There are over 300 million Arabs.


Expecting GOLF COUNTRIES currency would be backed by gold ?
The currencies of Saudi Arabia, the UAE, Qatar, Oman, and Bahrain are pegged to the US Dollar. Kuwait's Dinar is pegged to a basket of currencies including the US Dollar and the Euro. Saudi Arabia rejected calls for the International Monetary Fund SDR to be used as a reserve currency.
In 2010, it was believed that a GCC common currency between the four states of Saudi Arabia, Kuwait, Bahrain and Qatar could proceed


Arab countries currency list


country
capital
Currency bills
currency
Algeria   
ALgeires  
Algerian dinar
Algerian dinar
Bahrain (Kingdom of Bahrain)       
Manama  
Bahrainian dinar
bahraini dinar
 Djibouti (Republic of Djibouti)
Djibouti city
Djibouti franc
franc
 Egypt (Arab Republic of Egypt)
Cairo
Egyptian pound
Iraq (Republic of Iraq)   
Bagdad
Iraqi dinar
Jordan (Hashemite Kingdom of Jordan)
 Amman
Jordanian dinar
Kuwait (State of Kuwait)                             
Kuwait city
Kuwaiti dinar
Lebanon (Lebanese Republic)                        
beirute     
Lebanese lira
Libya (Libya)  
 Tripoli   
Libyan dinar
Mauritania                                                  
Nouakchott     
Mauritanian ouguiya

Morocco (Kingdom of Morocco)                     
Rabat   
Moroccan dirham
Oman (Sultanate of Oman)                               
Muscat   
Omani rial
Palestine (Palestinian National Authority)
Jerusalem
US Dollar
Qatar (State of Qatar)
Doha  
Qatari riyal
Saudi Arabia (Kingdom of Saudi Arabia)          
Riyadh
Saudi riyal
Somalia (Somali Republic)                      
Muqdisho   
soomaaliyan shilling
Somali shilling
Sudan (Republic of the Sudan)                     
Khartoum
Sudanese pound
Syria (Syrian Arab Republic)             
Damascus       
Syrian pound
Tunisia (Republic of Tunisia)                           
Tunis
Tunisian dinar
UAE (United Arab Emirates)    
Abu Dhabi               
United Arab Emirates dirham
Yemen (Republic of Yemen)                         
Şan'ā
Yemeni rial
                                                                                     


                                              


  • Petroleum and petroleum products , oil ,crude oil have the most important part of arab resource as in Tunisia ,  Sudan , libya , Egypt , Algeria ,Saudi Arabia , Bahrain , Yemen , Oman ,United arab of emirates , Kuwait , Iraq.
  • Electric energy as in Egypt,  Libya.
  • Some of the Arab countries top the charts for natural gas as in Egypt , Qatar ,Libya , Algeria , Somalia.
  • Other mineral resources like Iron ore ,Lead ,Gypsum ,Manganese ,Copper , Zinc ,Salt beside Gold & Diamond lead by Arab countries in north Africa .


In 2010, it was believed that a GCC common currency between the four states of Saudi Arabia , Kuwait ,Bahrain and Qatar could proceed ,but that not happened ,This is simply because several preparatory measures and procedures are necessary to be discussed and made before the single currency can be set up by any economic group.

If we take the GCC experience as an example of collective cooperation in the region, the issue of forming a single currency is still in need of extra and intensified efforts , there are prospects for Arab economic cooperation , inequalities and economic abilities of Arab countries must be addressed , cooperation must begins with the setting up of a free trade area . This is the only way to achieve ambitious Arab plans and goals.

Arab countries that have the highest value for trade
  • Kuwaiti Dinar (1 KWD = 3.38 US Dollar)
  • Bahraini Dinar (1 BHD 2.65 US Dollar)
  • Oman: 1 USD  = 0.38 Omani rial
  • Jordan: 1 USD = 0.71 Jordanian dinar
  • Tunisia: 1 USD = 2.01 Tunisian dinarTunisia
  • Sudan: 1 USD = 6.10 Sudanese pound

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