The Bahraini Dinar was introduced as a currency in 1965, six years before Bahrain gained full independence; it replaced the Gulf Rupee at a rate of 10 rupees = 1 dinar. The Dinar is subdivided into 1,000 Fils (the singular form is also Fils); hence it is usually represented with three decimal places denoting the Fils. The 500 Fils (0.500 Dinar) coin is the largest circulating denomination (larger denominations have been issued as non-circulating legal tender only).
The first use of the denomination was for a silver non-circulating commemorative in 1968. Circulating bi-metallic 500 fils were first issued in 2000.