Kuwaiti Dinar (KWD)

Currency name

Kuwaiti Dinar

ك

KWD exchange rates

 USD INR EUR ZAR AUD NZD NGN AED
From KWD3.24286 271.05100 3.04594 62.09460 5.04882 5.49218 3714.43000 11.90970
To KWD0.30837 0.00369 0.32831 0.01610 0.19807 0.18208 0.00027 0.08396

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NameKuwaiti dinar (KWD)
Symbolك
Minor UnitFils
Minor Unit Symbol¢
Notes Freq UsedKD 1⁄4, KD 1⁄2, KD 1, KD 5, KD 10, KD 20
Coins Freq Used5, 10, 20, 50, 100 fulūs
Central Bank Central Bank of Kuwait
UsersKuwait

Facts Table for Kuwaiti dinar (KWD)

Kuwaiti Dinar is overseen by its central banking authority, the Central Bank of Kuwait. As of March 2013, the Kuwaiti Dinar holds the distinction of being the most valuable currency globally.

The monetary history of Kuwait reveals that before 1961, the Gulf nation used the Indian Rupee, particularly the Persian Gulf Rupee (XPGR) released by the Reserve Bank of India for circulation in several gulf countries, including Kuwait. However, after gaining independence, Kuwait initiated its own currency, the Kuwaiti Dinar, in 1961 at a rate of 13.33 Indian Rupees to 1 KWD. Subsequently, the Central Bank of Kuwait was established in 1969 to oversee the country's monetary system.

The Dinar was later pegged to a weighted currency basket in 1975. During the period following Iraq's invasion of Kuwait in 1990, the Iraqi Dinar temporarily replaced Kuwait's currency, resulting in a significant devaluation of the Kuwaiti Dinar. Following liberation in early 1991, the Kuwaiti Dinar was restored to its pre-invasion value, and new banknotes were issued. Between 2003 and 2007, the Dinar was pegged to the US Dollar.

Kuwaiti Dinar Coin Design

Regarding coins, Kuwait's coins, introduced in 1961, possess a consistent design that remains unchanged since their inception. They showcase a boom ship, accompanied by the year of minting in Arabic, both in Islamic and Common Era. The reverse side features the value in Arabic enclosed within a central circle, with 'الكُوَيت' (Arabic for The Kuwait) positioned above and 'KUWAIT' in English below.

Unlike several other Middle Eastern currencies, Kuwait hosts a coin valued at 0.02 of its primary currency unit instead of the more common 0.025 or 0.25, although the latter does exist in the form of a banknote.

All Kuwaiti dinar Exchange Rates