The Kuwaiti Dinar is the currency of the Emirate of Kuwait. The Kuwaiti dinar is a thousand currency. A dinar consists of 1,000 fils.
From the Kuwaiti dinar there are banknotes of ¼, ½, 1, 5, 10 and 20 dinars as well as coins of 1, 5, 10, 20, 50 and 100 fils. The ISO code is KWD. The abbreviation is: KD.
History of the Kuwaiti Currency
There have been five series of the Kuwaiti Dinar so far. The first series was issued in 1960 when the previously applicable Indian rupee was suspended. This series was in circulation from April 1, 1961 to February 1, 1982.
From November 17, 1970, the “Central Bank of Kuwait” issued new 1/4, 1/2 and 10 dinar banknotes. Another 1 and 5 dinar notes followed. The first and second series became invalid on February 1, 1982.
On February 20, 1980, the third series was released in denominations 1/4, 1/2, 1, 5 and 10 dinars. In 1986 a 20 dinar banknote followed. After Iraq invaded Kuwait, this third series was suspended on March 24, 1991.
After the liberation of Kuwait, the fourth series came in 1991 and was legal tender until February 16, 1985.
The fifth series, which is equipped with additional security features, has existed since April 3rd, 1994.
There are currently considerations that all Gulf states will replace the dinar with a common currency.
What is remarkable is the design of the banknotes, which avoid any reference to history. Buildings, ships, pieces of furniture or scenes from everyday life are shown. In addition, special banknotes were printed on the second and tenth anniversary of the liberation from the occupation of Iraq.
On the second anniversary bill, Bedouins and soldiers are shown hugging after liberation. The countries that participated in the liberation are also listed. Germany is mentioned although it was not involved in the liberation. In support of this, Germany transferred DM 16 billion to the USA.
Exchange into the Kuwaiti dinar
If you want to go to Kuwait, ask yourself whether it is better to exchange money in Germany than in Kuwait. An exchange of euros for KD is recommended on site, in the hotel, at the “Commercial Bank” at the airport or in one of the banks or exchange offices in Kuwait City. A currency converter can be used to determine the approximate rate at which an exchange is possible.
You often get particularly good rates if you withdraw money from an ATM by credit card.