Qatar and Dubai's monetary union was a direct consequence of British devaluation of the pound sterling in November 1967, which forced Gulf states dependent on the Gulf rupee to seek alternative currency arrangements. The Qatar and Dubai riyal was introduced in 1966, and this bronze issue circulated across both territories during the brief window before Dubai joined the UAE and Qatar went fully independent — both in 1971, at which point the union dissolved and separate currencies replaced it.
Qatar and Dubai's monetary union was a direct consequence of British devaluation of the pound sterling in November 1967, which forced Gulf states dependent on the Gulf rupee to seek alternative currency arrangements. The Qatar and Dubai riyal was introduced in 1966, and this bronze issue circulated across both territories during the brief window before Dubai joined the UAE and Qatar went fully independent — both in 1971, at which point the union dissolved and separate currencies replaced it.