KWD 1 | Bank Note | One Dinar | Kae Kae | CurrencyStackerKK | Kuwait | Asia

KWD 1 | Bank Note | One Dinar | Kae Kae | CurrencyStackerKK | Kuwait | Asia

1 Kuwait Dinar

The Kuwaiti dinar (Arabic: دينار كويتي, code: KWD) is the currency of Kuwait. It is sub-divided into 1,000 fils. As of 2021, the Kuwaiti dinar is the strongest circulating currency, with one Kuwaiti dinar equalling 3.32 United States dollars, which is just in front of the Bahraini dinar with one Bahraini dinar equalling 2.65 United States dollars. The dinar was introduced in 1960 to replace the Gulf rupee, equal to the Indian rupee. It was initially equivalent to one pound sterling. As the rupee was fixed at 1 shilling 6 pence, that resulted in a conversion rate of 13+1⁄3 rupees to the dinar.

When Iraq invaded Kuwait in 1990, the Iraqi dinar replaced the Kuwaiti dinar as the currency and large quantities of banknotes were stolen by the invading forces.

First series – The first series was issued by Kuwaiti Currency Law in 1960, which established the Kuwaiti Currency Board. This series consisted of denominations of 1⁄4, 1⁄2, 1, 5 and 10 dinars.

Second series – After the creation of the Central Bank of Kuwait in 1969 as a replacement to the Kuwaiti Currency Board, new 1⁄4, 1⁄2 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.

Third series – The third series was issued on 20 February 1980, after the accession to the throne of late Emir Jaber Al-Ahmad Al-Sabah, in denominations of 1⁄4, 1⁄2, 1, 5 and 10 dinars.

Fourth series – After the liberation, a fourth series was issued on 24 March 1991. This fourth series was legal tender until 16 February 1995. Denominations were 1⁄4, 1⁄2, 1, 5, 10 and 20 dinars.

Fifth series – The fifth series of Kuwaiti banknotes were in use from 3 April 1994 and included high-tech security measures which have now become standard for banknotes.

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