British currency in the Middle East already risen in value against the pound sterling as a result of sterling's devaluation in 1967, and so the new Omani rial was not equal in value to the dinars in the nearby territories. The currency units that are used in Israel, Jordan, Iraq, Kuwait, Bahrain, Oman, and the Yemen are all descended from the pound sterling unit, while the currency units that are used in Saudi Arabia, Qatar, and the United Arab Emirates are all descended from the Maria Theresa Thaler. This largely explains the factor of ten difference in value on average between Bahrain, Kuwait and Oman on
Penny (British decimal coin) Penny (British decimal coin) The British decimal one penny (1p) coin, usually simply known as a penny, is a unit of currency equaling one one-hundredth of a pound sterling. The penny’s symbol is p. Its obverse has featured the profile of Queen Elizabeth II since the coin’s introduction on 15 February 1971, the day British currency was decimalised. Four different portraits of the Queen have been used on the coin, with the latest design by Jody Clark being introduced in 2015. The second and current reverse, featuring a segment of the Royal Shield, was introduced in 2008. The correct plural