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
History of pound sterling in Oceania History of pound sterling in Oceania The pound sterling was the currency of many, but not all parts of the British Empire. This article looks at the history of the pound sterling in the Australia, New Zealand, and Pacific region. The British victory at the Battle of Waterloo in 1815 heralded the beginning of a new world order in which Britain would be the supreme world power for the next one hundred years. At the time of Waterloo, the British Empire consisted of the New World territories in the West Indies and North America which had been retained following the