Kuwaiti Dinar (دينار)

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Kuwaiti Dinar (دينار)
The Kuwaiti Dinar is the worldu2019s highest-valued currency unit.

The Kuwaiti Dinar is currently the official currency of Kuwait. Officially introduced in 1961, the Kuwaiti Dinar replaced the older Gulf Rupee. At first, it was equivalent to British Pound Sterling - as the Gulf Rupee was fixed at 1 shilling 6 pence, this resulted in a conversion rate of 13⅓ Rupees to the Dinar. When Iraq invaded Kuwait in 1990, the Iraqi Dinar replaced the Kuwaiti Dinar. Coins and a large quantity of banknotes were stolen by the invading forces. After liberation, the Kuwaiti Dinar was restored as the country's currency and a new banknote series was introduced. The Kuwaiti Dinar is administered by the Central Bank of Kuwait, and is usually abbreviated to ‘KWD’ or ‘دينار’.

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