Kuwaiti dinar (Kuwaiti dinar) is the official currency of the Emirate of Kuwait. Loose coin - fils. One Kuwaiti dinar contains 1,000 such coins. This currency is quite popular among the countries surrounding this state.
In circulation today are notes in one fourth, one second dinar. There are still banknotes in denominations of 20, 10, 5 and one dinar. Coins are attached to them: fifty, one hundred, ten, twenty and 5 fils.
Dinar is one of the oldest world currencies. There is evidence that at the time of writing the Koran, he was already in use.
What currency was in Kuwait before the dinar?
Great Britain at the beginning of the 19th century strengthened its presence in the Middle Eastern countries. At the end of 1899, the emirate of Kuwait took control of it. All Middle Eastern countries in this troubled period use the Indian national currency as a means of payment. After several decades, at the beginning of 1959, the Reserve Bank of India issues a new rupee of the Persian Gulf. Their exchange rate is the same. They were in use before the change of their Kuwaiti national currency.
Your first currency
In April 1961, the Kuwaiti dinar became the national currency. And the central bank in the emirate appears only in 1968, on June 30. It has replaced the Kuwait Monetary Council in its functions. The beginning of official foreign exchange and domestic operations started on 01.04.1969. The main functions of the Central Bank were and remain the issue of the national currency, credit policy to support economic and social progress, guaranteeing the stability of the Kuwaiti national currency and its elasticity with respect to other world money, increasing the emirate’s national income, supervising and controlling the banking system and financial assistance to the government.
New Kuwaiti money
Since the beginning of 1991, the national emirate bank has changed the design and design of banknotes. This happened as a result of the six-month occupation of Kuwait by the troops of Iran bordering it. During these six months, the invaders removed all the money from the territory of the country. The Government of Kuwait made a serious decision. The Central Bank of the country immediately after the lifting of the occupation blockade began to change paper notes. Coins remained unchanged.
For example, money in 5 fils. On the front side in the middle, in a circle on Arabic script, the face value is embossed. Along the edges: top in Arabic, bottom in English: Kuwait. In the center of the reverse there is an element of the national emblem: the image of a sambuca (this is a two-masted dow), below is the year of issue. The Hijr year (according to the Gregorian calendar) is knocked out in Arabic script numbers - 1434, which corresponds to our 2012 year. Coins are minted from stainless steel, clad with aluminum bronze. All coins have a diameter of 21 mm, a thickness of 1.5 mm. The remaining coins are similar, differ in the broken face value and year of issue.
Kuwait paper money
Banknotes of the national currency are similar to the currencies of neighboring countries. The obverse is represented by the emblem of Kuwait emblem shifted to the left, drawings and images of historical or architectural objects. Once, the entire currency of this state was printed in Saudi Arabia, in the royal mint. Kuwait today has its own mint.
But so far, in the countries of the Middle East, you can fall for the trick of a fraudster during an exchange, especially if the exchange takes place in a small trading shop. Experts remind: during the exchange it is necessary to carefully study the year of issue of the banknote. Today's means of payment issued no later than 1991.
Little Kuwait's money is more expensive than a dollar
Today it is the most expensive national currency in the world, and every fifteenth citizen of this state is a millionaire. In fact, the emirate of Kuwait is the city of the same name and a huge piece of lifeless desert. But this is a very rapidly developing country. Having declared independence in 1961, the Kuwaiti government has established a huge number of international relations with various countries and especially with the countries of the Middle East. Amazing oil reserves made the emirate an influential country in the region, and its voice was the most significant in many international organizations and especially in OPEC.
Kuwaiti dinar is a pleasure to take in any the bank of the world. This national currency uses the hi-tech security system, which is now the standard for banknotes.
How much is the Kuwaiti dinar?
The course, like any currency, is unstable. Kuwaiti dinar to ruble or dollar depends on many factors. According to international classification, the monetary unit of this state is designated KWD, in the emirate - KD.
The national currency is freely convertible and the most stable in the world. A vivid confirmation of this is the international course of the Kuwaiti dinar. It is more expensive than foreign currency. Kuwaiti dinar to the dollar more than three, or even higher times. To date, 1 KWD is 3.32 USD. As for the Russian currency, the Kuwaiti dinar to the ruble is 221.81 RUB.
In the emirate there are no restrictions on both export and import of one's own and any other currency of the world. Customs officers can scrutinize luggage, and will not show any attention to the wallet. The country has a ban on the import of alcohol and weapons.
Currency can be exchanged at any bank in the country or store. You just need to keep in mind that small amounts are subject to large commissions, while large amounts are subject to a discount. This is by no means the holder of international cards. Credit cards are accepted as a means of payment everywhere.
Kuwaiti dinar is the most "full-weighted" monetary unit among world currencies.
