- Kuwaiti dinar
currency_name_in_local = دينار كويتي ar icon
iso_code = KWD
using_countries = KWT
image_1 = 1 Kuwait-Dinar(1994).jpg
image_title_1 = 1 dinar of 1994
inflation_rate = 3%
inflation_source_date = " [https://www.cia.gov/library/publications/the-world-factbook/fields/2092.html The World Factbook] ", 2006 est.
subunit_ratio_1 = 1/1000
subunit_name_1 = fils
symbol = د.ك
frequently_used_coins = 5, 10, 20, 50, 100 fils
used_banknotes = ¼, ½, 1, 5, 10, 20 dinars
Central Bank of Kuwait
issuing_authority_website = www.cbk.gov.kw
The dinar (Arabic: دينار,
ISO 4217code "KWD") is the currency of Kuwait. It is sub-divided into 1000 fils. It is the highest valued currency unitin the world.
The dinar was introduced in 1961 to replace the
Gulf rupee. It was initially equivalent to one pound sterling. As the rupee was fixed at 1 shilling6 pence, this resulted in a conversion rate of 13⅓ rupees to the dinar.
Iraqinvaded Kuwait in 1990, the Iraqi dinarreplaced the Kuwaiti dinar as the currency and large quantities of banknotes were stolen by the invading forces. After liberation, the Kuwaiti dinar was restored as the country's currency and a new banknote series was introduced, allowing the previous notes, including those stolen, to be demonetized.
coins were introduced in 1961:
* 1 fils (Currently canceled)
* 5 fils
* 10 fils
* 20 fils
* 50 fils
* 100 fils
To date five series of the Kuwaiti dinar banknote have been printed. The first series was issued following the pronouncement of the Kuwaiti Currency Law in 1960 which established the Kuwaiti Currency Board. This series was in circulation from
1 April 1961to 1 February 1982and consisted of denominations of ¼, ½, 1, 5 and 10 dinars.
After the creation of the
Central Bank of Kuwaitas a replacement to the Kuwaiti Currency Board, new ¼, ½ and 10 dinar notes were issued from 17 November 1970, followed by the new 1 and 5 dinar notes of the second series on 20 April 1971. This second series was likewise withdrawn on 1 February 1982.
The third series was issued on
20 February 1980after the accession to the throne of Emir Jaber al-Ahmad al-Jaber al-Sabah, at that time in denominations of ¼, ½, 1, 5 and 10 dinar. A 20 dinar banknote was introduced on 9 February 1986. As a result of the state of emergency after Iraq's invasion of Kuwait, this series was ruled invalid with effect from 30 September 1991. Significant quatities of these notes were stolen by Iraqi forces and some have appeared on the international numismatic market. The "Standard Catalog of World Paper Money" (A. Pick, Krause Publications) lists notes with the following serial number prefix denominators as being among those stolen:
After the liberation, a fourth series was issued on
24 March 1991with the aims of replacing the previous withdrawn series as quickly as possible and guaranteeing the country's swift economic recovery. This fourth series was legal tender until 16 February 1995. Denominations were ¼, ½, 1, 5, 10 and 20 dinar.
The fifth series of Kuwaiti banknotes has been in use since
3 April 1994and include high-tech security measures which have now become standard for banknotes. Denominations were as in the fourth series.
Fixed exchange rate
March 18, 1975to January 4, 2003, dinar was pegged to a weighted currency basket. From January 5, 2003until May 20, 2007, the pegged was switched to 1 U.S. dollar = 0.29963 dinar with margins of ±3.5%. [ [http://www.cbk.gov.kw/WWW/exchange_rates.html Exchange Rates, Central Bank of Kuwait] ] . The central rate translates to approximately 1 dinar = 3.33745 dollars.
May 20, 2007, the Kuwaiti dinar was re-pegged to a basket of currencies, [cite news | title= Kuwait pegs dinar to basket of currencies | url= http://www.forbes.com/markets/feeds/afx/2007/05/20/afx3739653.html | publisher= Forbes| date= 2007-05-20| accessdate=2007-06-06 ] and is now worth about US$3.75. It is the world's highest valued currency unit.
Cooperation Council for the Arab States of the Gulf
Economy of Kuwait
*This article draws heavily on the corresponding article in the German Wikipedia, retrieved March 2, 2005.
Standard numismatics external links
world_coin_gallery_1_url = Kuwait
world_coin_gallery_1_name = Kuwait
banknote_world_1_url = kuwait
banknote_world_1_name = Kuwait
dollarization_1_url = asia
dollarization_1_name = Asia
gfd_1_url = Kuwait
gfd_1_name = Kuwait
gfd_data_1_url = 6139
gfd_data_1_name = Kuwait Dinar
show_gfd_excel = Y
* [http://www.cbk.gov.kw/WWW/gallery_issues.html Images of banknotes]
Wikimedia Foundation. 2010.
Look at other dictionaries:
Kuwaiti dinar — noun the basic unit of money in Kuwait; equal 1,000 fils • Syn: ↑dinar • Hypernyms: ↑Kuwaiti monetary unit • Part Meronyms: ↑Kuwaiti dirham, ↑dirham … Useful english dictionary
KWD (Kuwaiti Dinar) — The currency abbreviation or currency symbol for the Kuwaiti dinar (KWD), the currency for Kuwait. The Kuwaiti dinar is made of 1000 fils. The dinar has the highest value of any currency in the world, with a value of US$3.42 or 2.63 euros as of… … Investment dictionary
Dinar kuwaití — Saltar a navegación, búsqueda Dinar kuwaití دينار كويتي en árabe Cono monetario kuwaití … Wikipedia Español
Dinar (disambiguation) — Dinar can refer to: Dinar, currency, name of the following: v · … Wikipedia
Kuwaiti cuisine — is very important to the culture of Kuwait. The national dish of Kuwait known as machete (Arabic: مكبوس) consists mainly of mutton or chicken placed over or mixed in a large mass of well cooked and prepared rice. Food is almost always prepared… … Wikipedia
Dinar — This article is about the currency. For the city in Iran, see Dinar, Iran. Nations in dark green currently use the dinar. Nations in light green previously used the dinar. Yugoslavian states are inset to the lower left. The dinar is the official… … Wikipedia
Kuwaiti dirham — noun worth one tenth of a Kuwaiti dinar; equal 100 fils • Syn: ↑dirham • Hypernyms: ↑Kuwaiti monetary unit • Part Holonyms: ↑Kuwaiti dinar, ↑dinar • Part Meronyms: ↑ … Useful english dictionary
Kuwaiti Navy — This article is about Kuwaiti Navy. For other uses, see Kuwaiti Navy (disambiguation). القوة البحرية الكويتية Kuwait Naval Force … Wikipedia
Kuwaiti monetary unit — noun monetary unit in Kuwait • Hypernyms: ↑monetary unit • Hyponyms: ↑Kuwaiti dinar, ↑dinar, ↑Kuwaiti dirham, ↑dirham … Useful english dictionary
Dinar — Saltar a navegación, búsqueda Para la antigua aerolínea argentina, véase Dinar Líneas Aéreas. El dinar es la unidad monetaria de diversos estados del mundo, la mayoría de los cuales de lengua árabe o que antiguamente habían formado parte del… … Wikipedia Español