The Kuwaiti dinar (Arabic: ????? ?, code: KWD ) is Kuwait currency. It is subdivided into 1,000 fils. The Kuwaiti Dinar is the world's highest-rated currency unit.
Video Kuwaiti dinar
History
Dinar was introduced in 1960 to replace the Gulf rupee, equal to the Indian rupee. Originally equivalent to one pound sterling. Since the rupee remains at 1 penny shill, which results in a conversion rate of 13 1 / 3 rupee to dinar.
When Iraq invaded Kuwait in 1990, the Iraqi dinar replaced the Kuwaiti Dinar as a currency and a large amount of paper money was stolen by the invading forces. After the liberation, the Kuwaiti Dinar was restored as the country's currency and a series of new banknotes were introduced, allowing earlier records, including those stolen, to be demonetized.
Maps Kuwaiti dinar
Coins
The coins in the following table were introduced in 1961. The design of all coins is similar and has not changed since it was first printed. At the front is a boom ship, with years printed in both Islamic Era and General in Arabic. Conversely contain values ​​in Arabic in the center circle with ??????? ???????? (Kuwait State in Arabic) above and KUWAIT in English below.
Unlike many other Middle East currencies, Kuwait has 0.2 coins worth of its main currency unit rather than 0.25.
Coins 1 fils last printed in 1988.
Banknote
Six series of Kuwaiti dinars have been printed.
First series
The first series was issued after the announcement of the Kuwaiti Currency Act in 1960, which established the Kuwaiti Currency Board. The series went live from 1 April 1961 to 1 February 1982 and consists of denominations 1 / 4 , 1 / 2 , 1, 5, and 10 dinars.
Second series
After the formation of the Central Bank of Kuwait in 1969 as a replacement for the Kuwaiti Currency Board, the new 1 / 4 , 1 / 2 and 10 dinar records were released from 17 November 1970, followed by 1 and 5 new dinars from the second series on April 20, 1971. This second series was drawn on 1 February 1982.
Third series
The third series was issued on February 20, 1980, after the accession to the throne of Emir Jaber al-Ahmad al-Jaber al-Sabah, in the denomination 1 / 4 , 1 / 2 , 1, 5, and 10 dinars. Banknote 20 dinar was introduced later on February 9, 1986. As a result of the emergency after the invasion of Kuwait, this series was declared invalid since September 30, 1991. A significant amount of these records were stolen by Iraqi forces and some have appeared in the international numismatic market. The "World Bank Standard Money Catalog" (A. Pick, Krause Publications) lists the following serial number denominator as stolen:
Fourth series
After the release, the fourth series was released on 24 March 1991 with the aim of replacing the previously withdrawn series as quickly as possible and ensuring the country's rapid economic recovery. This fourth series is a valid tender until February 16, 1995. The denomination is 1 / 4 , 1 / 2 , 1, 5, 10, and 20 dinars. Fifth Series
The fifth series of Kuwaiti banknotes were used since April 3, 1994 and included high-tech security measures that are now standard for paper money. Denominations are like in the fourth series.
Sixth series
The Bank of Kuwait holds the sixth series of Kuwaiti banknotes into circulation on June 29, 2014. Some bills are rough so the blind can identify them with a touch.
Warning issues
In 1993 and 2001, the Kuwaiti Central Bank issued a 1-dinar warning polymer note to celebrate its release from Iraq. The first warning note, dated February 26, 1993, was issued to celebrate the second anniversary of his release. The front of the map displays the State of Kuwait, the emblem of Kuwait and on the left and right of the record is a list of countries that assist in its Liberation, in English and Arabic. A second warning note, dated February 26, 2001, was issued to celebrate the tenth anniversary of his release. One feature of the record is the optical variable device patch (OVD) that shows fingerprints, references to the victims of the invasion and occupation of Kuwait. Although they are nominated as 1 dinar, both warning notes state that they are not a valid payment instrument.
From March 18, 1975 to January 4, 2003, the dinar was pegged to a basket of weighted currencies. From January 5, 2003 to May 20, 2007, the groupings switched to US $ 1 = 0.29963 dinars with a margin of  ± 3.5%. The central level translates to about 1 KD = $ 3.53 USD
From June 16, 2007, the Kuwaiti Dinar is pegged back to a number of currencies, and is worth approximately $ 3.28 per December 2016. It is the world's highest rated currency unit.
See also
- Gulf rupee
- Kuwait Economy
References
External links
- Banknote image and description (New Central Bank of Kuwait website)
- The Kuwait banknote (in English) (in German)
Source of the article : Wikipedia
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