Kuwaiti dinar

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Country: KuwaitKuwait Kuwait
Subdivision: 1000 fils
ISO 4217 code : KWD
Abbreviation: KD
Exchange rate :
(29 Mar 2020)

EUR  = 0.34961 KWD
1 KWD = 2.8603 EUR

CHF  = 0.32489 KWD
1 KWD = 3.078 CHF

The Kuwaiti Dinar ( Arabic دينار كويتي, DMG Dīnār kuwaitī ) is the currency of Kuwait .

In contrast to many other currencies, the Kuwaiti dinar is a thousand currency. A dinar is divided into 1000 fils (= 10 dirhams ), while the euro or the US dollar, for example, are divided into 100 cents. There are ¼, ½, 1, 5, 10 and 20 dinar banknotes and coins of 1 (rare), 5, 10, 20, 50 and 100 fils in circulation.

The Kuwaiti Dinar has so far been issued in six series:

  • The issue of the first series followed the promulgation of the Kuwaiti Currency Act in 1960, with which the Kuwaiti Currency Board was established and the Gulf rupee, which was previously used and linked to the Indian rupee , was suspended. This series was in circulation from April 1, 1961 to February 1, 1982.
  • After the establishment of the Central Bank of Kuwait as the successor to the Kuwaiti Currency Board , new 1/4, 1/2 and 10 dinar notes were issued from November 17, 1970, followed by the 1 and 5 dinar notes of the second series on April 20, 1971. This second edition was also withdrawn on February 1, 1982.
  • After Sheikh Jabir al-Ahmad al-Jabir al-Sabah had ascended the throne , the third series was issued on February 20, 1980, initially in the well-known denominations 1/4, 1/2, 1, 5 and 10 dinars. On February 9, 1986, the new 20 dinar note was introduced. In the wake of the state of emergency following the invasion of Iraq in Kuwait, this series was suspended with effect March 24, 1991. The exchange period for these banknotes ended on September 30, 1991.
  • After the liberation, the fourth series was published on March 24, 1991 with the aim of replacing the previous series, which had been suspended on the same date, as quickly as possible and ensuring the country's rapid economic recovery. This fourth series was legal tender until February 16, 1995.
  • On April 3, 1994, the fifth series of Kuwaiti banknotes was issued, equipped with high-tech security features that are now standard in banknote issuance.
  • The sixth and thus the latest series of banknotes has been in circulation since June 29, 2014, and has been equipped with the highest possible security features that existed in the world at the time of manufacture.

Considerations to replace the dinar with a common currency of the Gulf states have not yet been put into practice.

The Kuwaiti dinar is nominally the most expensive currency in the world.

Web links

Commons : Money from Kuwait  - Collection of pictures, videos and audio files

Individual evidence

  1. Latvia has the most valuable currency in Europe. Retrieved August 15, 2011 .