The Kuwaiti dinar (KWD) is the currency of the State of Kuwait, and as of 2019 is the most valuable currency on Earth. This series was in circulation from 1 April 1961 to 1 February 1982 and consisted of denominations of 1⁄4, 1⁄2, 1, 5 and 10 dinars. Kuwait City is its capital and largest city. As a result of the state of emergency after the Invasion of Kuwait, this series was ruled invalid with effect from 30 September 1991. The currency code for Dinars is KWD, and the currency symbol is ك. It is the world's highest-valued currency unit. Once the Iraqis had been expelled the Kuwaiti dinar was restored as the country’s currency. Also, the Dinar is pegged to multiple currencies. SCR is the abbreviation for the Seychellois rupee, the currency of the island nation of Seychelles in the Indian Ocean off East Africa. or take KWD rates on the go with our XE Currency Apps and website. Once your funds are received by the provider the converted KWD amount will be transfered to the recipient account you specify in Kuwait. The Kuwaiti dinar is the highest-value currency in the world. Save my name, email, and website in this browser for the next time I comment. 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. You will note that is is first on our list of the highest currencies in the world. Issued in 1959 by the Indian government, the Gulf rupee was for use outside of India, particularly in the Persian Gulf region. Disclaimer & Terms of Service The Kuwaiti Dinar is an official national currency and used only in Kuwait. This is why most traders and investors stay away from trading this currency unless they feel a major fundamental shift may be forthcoming which could cause a major shift in the value of the currency. The country is prosperous owing to its trade and oil. A modern, vibrant, and wealthy country, Kuwait has shaken off the scars of past conflicts…, The Omani rial is one of the highest value currencies in the world, and with…, The Gulf is known across the world for ostentatious wealth, and in this regard, Kuwait…, Great Apps For Travellers That Work Without Service, Continental Currency Exchange Versus ICE Exchange Rate, Business and Currency, Continental Connection, Liberation Tower and a dhow ship (traditional sailing vessel), Traditional door and the first Kuwaiti coin, Illustration of Greek civilisation on the Failaka Island, National Assembly of Kuwait and a sambuk ship (a type of dhow), Kuwaiti pearl diver and an Al-Boom dhow ship. "@type": "ListItem", Refined and crude petroleum make up a combined 87% of the country’s exports. { Moreover, due to its size, all transport is road-based in the country, with buses providing the only form of public transport. "itemListElement": The offers that appear in this table are from partnerships from which Investopedia receives compensation. Travel, Currency and Money saving tips for Kuwait.
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