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Tarikh Episode 733
In this episode of Tarikh, Nikhil talks about the surprising historical connection between the Indian rupee and the economies of the Gulf. We'll travel back to a time when the rupee wasn't just India's currency, but also the official money in countries like Kuwait, Qatar, and Bahrain.
The story starts with British colonialism and the ease of using one currency across their vast territories. It thrived thanks to Indian workers in the Gulf sending money home, strengthening the rupee. But with the discovery of oil and booming economies, Gulf nations sought independence, launching their own currencies by the late 1960s.
The Indian rupee's reign in the Gulf ended, replaced by the dinar and riyal. However, the link remains strong. Millions of Indian expats still send remittances home, and the rupee is popular with tourists. So, the story of the rupee and the Gulf is one of connection, evolution, and enduring economic ties.
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Edited By: Alok Sahu