The Dinar was the Emirates' currency upon independence. In the 1960s there was massive devaluation of the Dinar, and in 1967 one needed 9,000 to make a U.S. dollar. In 1969 the Derat was introduced at a rate of 10000 Dinars per Derat. The Derat is somewhat stable and is the most valued currencies in the world. As of March 2012 1 Derat is worth US$ 3.54.