Before 1966, the Gulf region used the Gulf Rupee (a special Indian currency). However, when India devalued the rupee in 1966, Qatar and Dubai decided to create their own joint currency. In September 1966, the Qatar & Dubai Currency Council was formed to issue the Qatar-Dubai Riyal.

This joint currency circulated until 1973, when Dubai joined the newly formed United Arab Emirates and adopted the UAE Dirham, while Qatar established its own Qatar Monetary Agency and issued the first Qatari Riyal.

A rare and historically significant 1 Riyal banknote issued by the Qatar & Dubai Currency Board in the 1960s (no date, abbreviated “ND”). This note represents the first joint currency issued by Qatar and Dubai following their departure from the Gulf Rupee system after India’s 1966 devaluation.

The obverse features iconic regional imagery including a dhow (traditional sailing vessel), an oil derrick, and a palm tree on the left, with Arabic inscriptions and the denomination at center. The reverse displays ornate geometric patterns in green and brown tones. The note includes a falcon’s head watermark as a security feature.

Printed in dark green on multicolored underprint, this banknote (Pick #P-1) circulated from 1966 until 1973, when the currency union dissolved—Dubai joined the UAE and adopted the Dirham, while Qatar established its own independent monetary system. Today, this short-lived joint currency is highly sought after by collectors of Middle Eastern and Gulf numismatics.

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