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Encyclopedia > Kuwaiti dinar
Kuwaiti dinar
دينار كويتي (Arabic)
1 dinar of 1994
ISO 4217 Code KWD
User(s) Kuwait
Inflation 3.5%
Source The World Factbook, 2005 est.
Subunit
1/1000 fils
Symbol د.ك
Coins
Freq. used 5, 10, 20, 50, 100 fils
Rarely used 1 fils
Banknotes ¼, ½, 1, 5, 10, 20 dinars
Central bank Central Bank of Kuwait
Website www.cbk.gov.kw

The Kuwaiti dinar (ISO 4217 code KWD) is Kuwait's official currency. The dinar is sub-divided into 1000 fils. It was established in 1960 and replaced the Gulf rupee in 1961. The dinar was initially equivalent to one pound sterling. As the rupee was fixed at 1 shilling 6 pence, this resulted in a conversion rate of 1313 rupees to the dinar. Image File history File links 1_Kuwait-Dinar(1994). ... For the river in Germany see Fils River The fils is a subdivision of currency used in many Arab countries, such as Iraq. ... The Central Bank of Kuwait was established in 1969 to offer a flexable currency system on behalf of the State of Kuwait. ... ISO 4217 is the international standard describing three letter codes (also known as the currency code) to define the names of currencies established by the International Organization for Standardization (ISO). ... 1960 (MCMLX) was a leap year starting on Friday (the link is to a full 1960 calendar). ... The Gulf Rupee, also known as the Persian Gulf Rupee (XPGR), was introduced by the Indian government as a replacement for the Indian Rupee for circulation exclusively outside the country with the Reserve Bank of India [Amendment] Act, 1 May 1959. ... 1961 (MCMLXI) was a common year starting on Sunday (the link is to a full 1961 calendar). ... ISO 4217 Code GBP User(s) United Kingdom Inflation 2. ... Before decimalisation in 1971, a shilling had a value of 12d (old pence), and was equal to 1/20th of a pound: there were 240 (old) pence to the pound. ... For silver pennies produced after 1820 see Maundy money. ...

Contents

Coins

There are also the following coins: A coin is usually a piece of hard material, generally metal, usually in the shape of a disc, and most often issued by a government, to be used as a form of money in transactions. ...

  • 1 fils (very rare)
  • 5 fils
  • 10 fils
  • 20 fils
  • 50 fils
  • 100 fils

Banknotes

The following banknotes are produced: A £20 Bank of England banknote. ...

  • ¼ dinar (250 fils)
  • ½ dinar (500 fils)
  • 1 dinar
  • 5 dinars
  • 10 dinars
  • 20 dinars

To date five series of the Kuwaiti dinar banknote have been printed:

  • The first series was issued following the pronouncement of the Kuwaiti Currency Law in 1960 which established the Kuwaiti Currency Board and which declared that the Indian rupee, which had been used until this time, was no longer legal currency. This series was in circulation from 1 April 1961 to 1 February 1982.
  • After the creation of the Central Bank of Kuwait as a replacement to the Kuwaiti Currency Board, new ¼, ½ 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. This second series was likewise withdrawn on 1 February 1982.
  • The third series was issued on 20 February 1980 after the accession to the throne of Emir Jaber al-Ahmad al-Jaber al-Sabah, at that time in denominations of ¼, ½, 1, 5 and 10 dinar. The new 20 dinar banknote was introduced on 9 February 1986. As a result of the state of emergency after Iraq's invasion of Kuwait, this series was ruled invalid with effect from 30 September 1991.
  • After the liberation, the fourth series was issued on 24 March 1991 with the aims of replacing the previous withdrawn series as quickly as possible and guaranteeing the country's swift economic recovery. This fourth series was legal tender until 16 February 1995.
  • The fifth series of Kuwaiti banknotes has been in use since 3 April 1994 and include high-tech security measures which have now become standard for banknotes.

1960 (MCMLX) was a leap year starting on Friday (the link is to a full 1960 calendar). ... April 1 is the 91st day of the year (92nd in leap years) in the Gregorian calendar, with 274 days remaining. ... 1961 (MCMLXI) was a common year starting on Sunday (the link is to a full 1961 calendar). ... February 1 is the 32nd day of the year in the Gregorian Calendar. ... 1982 (MCMLXXXII) was a common year starting on Friday of the Gregorian calendar. ... The Central Bank of Kuwait was established in 1969 to offer a flexable currency system on behalf of the State of Kuwait. ... 17 November is also the name of a Marxist group in Greece, coinciding with the anniversary of the Athens Polytechnic uprising. ... 1970 (MCMLXX) was a common year starting on Thursday (the link is to a full 1970 calendar). ... April 20 is the 110th day of the year in the Gregorian calendar (111th in leap years). ... 1971 (MCMLXXI) was a common year starting on Friday (the link is to a full 1971 calendar). ... February 1 is the 32nd day of the year in the Gregorian Calendar. ... 1982 (MCMLXXXII) was a common year starting on Friday of the Gregorian calendar. ... February 20 is the 51st day of the year in the Gregorian Calendar. ... 1980 (MCMLXXX) was a leap year starting on Tuesday. ... Jaber meeting with French foreign minister Roland Dumas during the Gulf War, October 1990 Jaber III al-Ahmad al-Jaber al-Sabah (Arabic: جابر الأحمد الجابر الصباح)‎ (June 29, 1926–January 15, 2006), of the al-Sabah dynasty, served as the thirteenth emir of Kuwait , and third emir since Kuwaits independence from Britain... February 9 is the 40th day of the year in the Gregorian Calendar. ... 1986 (MCMLXXXVI) was a common year starting on Wednesday of the Gregorian calendar. ... September 30 is the 273rd day of the year (274th in leap years) in the Gregorian calendar. ... 1991 (MCMXCI) was a common year starting on Tuesday of the Gregorian calendar. ... March 24 is the 83rd day of the year in the Gregorian Calendar (84th in leap years). ... 1991 (MCMXCI) was a common year starting on Tuesday of the Gregorian calendar. ... February 16 is the 47th day of the year in the Gregorian Calendar. ... 1995 (MCMXCV) was a common year starting on Sunday of the Gregorian calendar. ... April 3 is the 93rd day of the year (94th in leap years) in the Gregorian calendar, with 272 days remaining. ... 1994 (MCMXCIV) was a common year starting on Saturday of the Gregorian calendar, and was designated as the International Year of the Family and the International Year of the Sport and the Olympic Ideal by United Nations. ...

Fixed exchange rate

From March 18, 1975 to January 4, 2003, dinar was pegged to a weighted currency basket. From January 5, 2003. The pegged was switched to 1 U.S. dollar = 0.29963 dinar with margins of ±3.5%.[1]. The central rate translates to approximately 1 dinar = 3.33745 dollars. It is the world's highest valued currency unit. March 18 is the 77th day of the year in the Gregorian calendar (78th in leap years). ... 1975 (MCMLXXV) was a common year starting on Wednesday. ... January 4 is the 4th day of the year in the Gregorian calendar. ... 2003 (MMIII) was a common year starting on Wednesday of the Gregorian calendar. ... January 5 is the 5th day of the year in the Gregorian calendar. ... 2003 (MMIII) was a common year starting on Wednesday of the Gregorian calendar. ... ISO 4217 Code USD User(s) the United States, the British Virgin Islands, East Timor, Ecuador, El Salvador, the Marshall Islands, Micronesia, Palau, Panama, Turks and Caicos Islands, and the insular areas of the United States Inflation 3. ... The highest valued currency unit is the currency in which a single unit buys the highest number of any given other currency or the largest amount of a given good. ...

Current KWD exchange rates
Use Yahoo! Finance: AUD CAD CHF EUR GBP HKD JPY USD
Use XE.com: AUD CAD CHF EUR GBP HKD JPY USD

References

  1. ^ Exchange Rates, Central Bank of Kuwait
  • This article draws heavily on the corresponding article in the German Wikipedia, retrieved March 2, 2005.

See also

The Gulf Rupee, also known as the Persian Gulf Rupee (XPGR), was introduced by the Indian government as a replacement for the Indian Rupee for circulation exclusively outside the country with the Reserve Bank of India [Amendment] Act, 1 May 1959. ... The Cooperation Council for the Arab States of the Gulf (Arabic: مجلس التعاون لدول الخليج), formerly named and still commonly called Gulf Cooperation Council (GCC) (مجلس التعاون الخليجي) is a regional organization involving the six Persian Gulf Arab States with many economic and social objectives in mind. ...

External links

  • Images of banknotes
pre-war
Preceded by:
Gulf rupee
Ratio: 1 dinar = 13 1/3 rupees = 1 British pound
Currency of Kuwait
1961August 2, 1990
Succeeded by:
Iraqi dinar
Reason: Iraqi invasion of Kuwait
post-war
Preceded by:
Iraqi dinar
Reason: liberation of Kuwait
Ratio: = pre-war Kuwaiti dinar
Currency of Kuwait
early 1991
Succeeded by:
Current

  Results from FactBites:
 
Kuwaiti dinar - Wikipedia, the free encyclopedia (484 words)
The dinar was initially equivalent to one pound sterling.
After the creation of the Central Bank of Kuwait as a replacement to the Kuwaiti Currency Board, new ¼, ½ 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.
The new 20 dinar banknote was introduced on 9 February 1986.
Dinar - Wikipedia, the free encyclopedia (180 words)
The dinar is the currency unit of various countries, most of them Arabic-speaking or once part of the Ottoman Empire.
The word "dinar" (دينار in Arabic and Persian) is derived from denarius, a Roman currency.
Dinar is also the name of large town and a district center in Turkey's Afyonkarahisar Province.
  More results at FactBites »

 
 

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