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
Manx pound Manx pound The Manx pound () is the currency of the Isle of Man, in parity with the pound sterling. The Manx pound is divided into 100 pence. Notes and coins, denominated in pounds and pence, are issued by the Isle of Man Government. The Isle of Man is in a one-sided "de facto" currency union with the United Kingdom: the Manx government has decided to make UK currency legal tender on the island, and to back its own notes and coins with Bank of England notes. Manx government notes may, on demand, be exchanged at par for Bank of