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  • As per RBI norms, the GST is applicable as per travellers.
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    (i) Tax Collection at Source (TCS) at the rate of 0.5% or 5% as applicable will be levied under section 206C(1G)(b) of the Income Tax Act on remittance on account of Education purpose or Medical purpose, if the aggregate amount exceeds Rs.7,00,000 in a financial year under the Liberalized Remittance Scheme of the Reserve Bank of India.
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    In the event of cancellation of services and refund of amount, Tax collected at source under section 206C(1G) of the Income Tax Act, 1961 shall not be refunded. The non-refunded TCS will be reflected in the 26AS of the payer for claiming Income Tax credit.
  • Disclaimer Note for TCS
    (i) Tax Collection at Source (TCS) at the rate of 0.5% or 5% as applicable will be levied under section 206C(1G)(b) of the Income Tax Act on remittance on account of Education purpose or Medical purpose, if the aggregate amount exceeds Rs.7,00,000 in a financial year under the Liberalized Remittance Scheme of the Reserve Bank of India.
    (ii) Tax Collection at Source (TCS) at the rate of 20% will be levied under section 206C(1G)(b) of the Income Tax Act on all other remittances not covered in (i) above, if the aggregate amount exceeds Rs.7,00,000 in a financial year under the Liberalized Remittance Scheme of the Reserve Bank of India.
    The TCS collected will be reflected in the 26AS of the payer for claiming Income Tax credit.
  • Disclaimer Note for non-refund of TCS
    In the event of cancellation of services and refund of amount, Tax collected at source under section 206C (1G) of the Income Tax Act, 1961 shall not be refunded. The non-refunded TCS will be reflected in the 26AS of the payer for claiming Income Tax credit.
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Bahraini Dinar (BHD) - Currency of Bahrain

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Buy, Sell or Transfer Bahraini Dinar (BHD) in India at the best exchange rates

About Bahraini Dinar (BHD)

The Bahraini Dinar, code: BHD, is the official currency of Bahrain since 1965. This Bahraini currency is pegged to the U.S. Dollar at 0.376 Dinar to 1 USD rate. One Bahraini Dinar is made up of 100 Fils. In the year 2006, the Bahraini Agency became the Central Bank of Bahrain and in 2008, they launched a set of bills that depicted the old and new development of Bahrain. Other than Bahraini Currency, the county also accepts the Saudi Riyal, except for 500 Riyal.
Did you know the Bahraini economy is recognized as the 10th most free economy worldwide? Petroleum amounts to 60% of total exports. If the reports were to be believed, Bahrain is the fastest-growing economy amongst the other Arab countries.

Some facts that you ought to know about the bahraini currency:

    1. The short name for the US Dollar is BHD.
    2. The most frequently used coins are 5 Fils, 10 Fils, 25 Fils, 50 Fils, 100 Fils, BD ​1⁄2 (500 fils).
    3. The most commonly used banknotes include BD ​1⁄2, BD 1, BD 5, BD 10, BD 20.

Bahraini Dinar - History of Bahraini Dinar

Simply put, the Gulf Rupee was superseded by the Bahrain Dinar. 1979 saw the introduction of a new paper currency. Later, the Bahrain Agency modified its name to the Central Bank of Bahrain in 2006. Following this, the Central Bank of Bahrain introduced a new series of notes in 2008. This represented Bahrain's most recent and historical progress. The best part is, Bahrain acknowledges Saudi Riyals as well, with the exception of the 500 riyal note.

As a result of the Bahraini dinar's peg to the IMF's SDRs, it is effectively linked to the US dollar at a rate of 1 BHD= 2.65957 USD. Or 1 USD= 0.376 BD. As a result, the Bahraini dinar is now rated as the second-best valued currency in the entire globe, following the dinar from Kuwait, i.e, the Kuwaiti Dinar.

The economy of Bahrain is expanding and becoming more diverse. In fact, the future appears to be quite promising for this nation on the Persian Gulf in case circumstances proceed in the same direction.

However, it is important to note that the historical growth of Bahrain, an island nation, and its national currency, the Bahrain Dinar, are deeply intertwined. From 1867 to 1971, Bahrain was a British protectorate. August 14, 1971, saw the proclamation of Bahrain's independence. The Bahrain Dinar, on the other hand, was unveiled before the year 1971's proclamation of freedom.

Bahrain was once a province of England, just like India. The Gulf States and India have always had extensive commercial connections. Therefore, it seemed inevitable that Bahrain and other nearby nations would adopt a currency that was tied to the Indian rupee. A pact between Qatar, Bahrain, Kuwait, and some other regional nations brought about this decision in 1959. This currency was officially known as the Gulf rupee.

The Reserve Bank of India served as Bahrain's central bank. The conversion of the Gulf rupee with the Indian rupee was 1:1. Up until 1965, Bahrain's official currency was the Gulf rupee. The Bahraini dinar was thereafter publicly out there. The Gulf rupee and Bahraini dinar had a 10:1 exchange rate, meaning that one dinar was approximately 10 rupees.

In 2008, fresh banknotes with fresh designs were introduced to replace the previous ones. Since 2001, the Bahrain dinar has been contractually fixed to the US dollar. Bahrain's large oil revenues have prevented the dinar from losing much of its purchasing power relative to other currencies.

Factors Affecting Bahraini Dinar

There are a lot of factors that affect a country's currency. It should be noted that the Bahraini dinar maintains a fixed exchange rate. Thus, the currency's high value doesn't necessarily reflect the country's economy as much as a lot of individuals would assume. Here are a few factors that influence the Bahraini Dinar.

1. Exchange Rates:

In essence, some nations opt for flexible exchange rates for their currencies, allowing their value to shift in response to the balance of supply and demand. These nations will, naturally, intervene through a variety of channels if they observe any sharp fluctuations in the value of their national currencies, which could further have disastrous effects on their citizens. However, the majority of the time, they tend to stay out of the way. Other nations, as opposed to these ones, maintain their currency exchange rates at predetermined levels.

2. Peg to the US Dollar:

According to Bahrain's peg, the Bahraini dinar is valued at 1 USD to 0.37608 BHD. This directly indicates that Bahrain is prepared to swap its currency for dollars at that rate, anything that is made feasible by the Central Bank of Bahrain's operations. This does, in a certain sense, represent Bahrain's financial stability. The Central Bank of Bahrain would not be capable of performing its duties without being able to metaphorically get its hands on enough US dollars. This is because central banks can't preserve the currency rates they've settled upon unless they receive a continuous effort.

3. Stable Economy:

This is partly due to Bahrain having one of the more stable economies in the Arab region. The best part is, it is not entirely dependent on oil prices and has rather established a fully-functional tourism industry and a fully-functional financial industry out of necessity and foresight. Although the Bahraini dinar has among its greatest values, it would nevertheless be a grave error to assume that it ranks as one of the most valuable currencies in the world simply because of this fact. This is because the Bahraini Central Bank controls its exchange rates, which are not freely set and rather fluctuate in lockstep with the value of the U.S. dollar.

4. Currency Stability:

The Bahrain Dinar is highly prized for a variety of reasons, including its stability due to its advantageous peg to the U.S. dollar. This, in turn, ties their market value to the dollar. Eventually, investors and businesses operating worldwide benefit from this stability, since they can be confident that there won't be substantial fluctuations in the worth of their currencies.

5. Political Stability:

Another important element affecting a country's currency's value is the political climate. These Arab nations are governed by stable systems with little to zero instability in politics. The intrinsic worth of their banknotes is supported by this stability, which eventually serves to retain confidence among investors and maintain the worth of the currency.

Quick Facts About Bahraini Dinar (BHD)

Currency Name Bahraini Dinar
Short Name BHD
Nicknames Benjamins, Bones, Bread, Buck, Buckos, Cash, Dead Presidents, Dinero, Jeffersons, Scratch, Smacker
Symbol (s) .د.ب, BD
Unit 1/1000, fils
Frequently Used Coins A$1, A$2, 5c, 10c, 20c, 50c
Rarely Used Coins
Frequently Used Bank Notes BD0.5, BD1, BD5, BD10, BD20
Rarely Used Bank Notes
Central Bank, Name & Website Central Bank of Bahrain | www.cbb.gov.bh
Territories that unofficially use the Bahraini Dinar as a part of their legal tender

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The Bahraini Dinar Currency

The currency is in the subdivision of 1000 fils. Its issuance rights are under in the authority of the Central bank of Bahrain. The bank notes are currently under circulation are under the denominations of BD0.5, BD1, BD5, BD10, BD20.
Similarly, for the coins, the circulation is under the denominations of BD0.5, 5 fils, 10 fils, 25 fils, 50 fils, 100 fils.

How to buy forex online?
Thomas Cook not only offers the best-in-market foreign exchange rates, but also provides you with the best deals on international and domestic flight tickets, hotel bookings, and holiday packages. You can either buy forex online or visit the nearest Thomas Cook branch. To find the current 1 INR to BHD rate or other exchange rates, you can use our exclusive, free money exchange converter now.
To buy Bahraini Dinar online, follow these simple steps: Alternatively, you can even visit the nearest branch and our experts will be there to assist you to ensure a seamless transaction. If you still have questions, speak to our experts now.

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Frequently Asked Questions

Are there any currency rules to follow when arriving/departing Bahrain?
There are no restrictions per se. However, the authorities at the airport may request you to disclose value of the currency either local or foreign that you would be carrying with you. For more details, please contact our support team or log on to our website.
How much money can I carry in and out USA?
You can carry up to USD 1,00,000, or equivalent foreign currency, in and out USA. However, in case the amount you are carrying exceeds the given limit then you will be required to declare the same.
I am traveling to Bahrain for business purposes. I am not finding enough information on the dinar. Could you help me?
If you are looking to buy Bahraini Dinar then we suggest you log on to our website to find the best rates for the currency. You may also visit a nearby Thomas Cook centre or all our support team to receive any expert advice in case of any ambiguity.
Is Bahraini Dinar the costliest currency?
No, Kuwaiti Dinar is. Bahraini Dinar is the second costliest currency.
Where can I buy or sell the dinar?
You may visit the nearest Thomas Cook centre or even log on to Thomas Cook India website as per your convenience to buy or sell the Bahraini Dinar.
How much dinar should I buy for my trip to Bahrain if it’s for around a week?
This depends totally on your personal preferences and the nature of your trip. However, Bahrain is expensive and any financial planning for the trip would come in handy. Our experts should be able to advise you based on the itinerary of your trip and eventually assist you with the decision-making of purchasing the total amount of currency.

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