Indian rupee
Businesses in the largest sheikhdoms in the UAE, Dubai and Abu Dhabi continued to use the Indian Rupee even after India's independence in 1947. But its popularity strained India's foreign reserves, and so in 1959 the Indian government created the Gulf rupee, initially at par with the Indian rupee. It was introduced as a replacement for the Indian rupee for circulation exclusively outside the country, which included apart from the states making up the UAE, the nations of Kuwait, Qatar, Oman and Bahrain.