Kuwaiti dinar facts for kids

Quick facts for kids Kuwaiti dinar
1 Dinar banknote of Kuwait (sixth edition)
ISO 4217 Code	KWD
User(s)	Kuwait
Inflation	1.50%
Source	The World Factbook, 2017 est.
Pegged with	Undisclosed currency basket $1 USD = 0.29963 KD
Subunit
1⁄1,000	fils
Symbol	د.ك ‎ or KD
Coins
Freq. used	5, 10, 20, 50, 100 fulūs
Banknotes
Freq. used	KD 1⁄4, KD 1⁄2, KD 1, KD 5, KD 10, KD 20

The Kuwaiti dinar (Arabic: دينار كويتي‎, code: KWD) is the official money used in Kuwait. It is split into 1,000 smaller units called fils.

As of 2023, the Kuwaiti dinar is the most valuable money unit in the world. One Kuwaiti dinar (KD 1) is worth about US$3.26. This makes it more valuable than the Bahraini dinar (about US$2.65) and the Omani rial (about US$2.60).

History of the Kuwaiti Dinar

The Kuwaiti dinar was first used in 1961. It took the place of the Gulf rupee, which was the money used before. When it was first introduced, one Kuwaiti dinar was worth the same as one British pound.

When Iraq invaded Kuwait in 1990, they tried to make their own money, the Iraqi dinar, the official currency. A lot of Kuwaiti banknotes were stolen during this time. After Kuwait was freed, the Kuwaiti dinar became the country's money again. New banknotes were printed, and the old, stolen ones were made worthless.

Kuwaiti Coins

The coins used in Kuwait were first made in 1961. Their design has stayed the same since then. On one side, you'll see a traditional boom ship. The year the coin was made is also shown in both Islamic and regular (Common Era) dates.

On the other side, the coin's value is written in Arabic. Above it, you'll see الكُوَيت‎, which means The Kuwait in Arabic. Below that, it says KUWAIT in English.

Kuwait has a special coin worth 0.02 of its main currency unit. This is different from many other countries in the Middle East. The 1 fils coin was last made in 2014.

Coins of the Kuwaiti dinar
Obverse	Reverse	Value	Diameter	Thickness	Weight	Composition
		1 fils	17 mm	1.2 mm	2 g	Nickel-brass
		5 fils	19.5 mm	1.2 mm (1961-2011) 1.45 mm (2012-)	2.5 g (1961-2011) 2.55 g (2012-)	Nickel-brass (1961-2011) Brass-plated steel (2012-)
		10 fils	21 mm	1.5 mm	3.75 g (1961-2011) 4 g (2012-)	Nickel-brass (1961-2011) Brass-plated steel (2012-)
		20 fils	20 mm	1.36 mm	3 g	Cupro-nickel (1961-2011) Stainless steel (2012-)
		50 fils	23 mm	1.54 mm (1961-2011) 1.7 mm (2012-)	4.5 g	Cupro-nickel (1961-2011) Stainless steel (2012-)
		100 fils	26 mm	1.71 mm (1961-2011) 1.8 mm (2012-)	6.5 g (1961-2011) 6.7 g (2012-)	Cupro-nickel (1961-2011) Stainless steel (2012-)

Kuwaiti Banknotes

Kuwait has released six different designs, or "series," of its banknotes over the years.

First Series of Banknotes

The first series of banknotes was introduced on April 1, 1961. These notes were in use until February 1, 1982. They came in values of KD 1⁄4, KD 1⁄2, KD 1, KD 5, and KD 10.

Second Series of Banknotes

The Central Bank of Kuwait was created in 1969. Because of this, new banknotes for KD 1⁄4, KD 1⁄2, and KD 10 were released on November 17, 1970. The new KD 1 and KD 5 notes followed on April 20, 1971. This second series was taken out of use on February 1, 1982.

Third Series of Banknotes

The third series of banknotes came out on February 20, 1980. This was after Emir Jaber Al-Ahmad Al-Sabah became the leader. This series included KD 1⁄4, KD 1⁄2, KD 1, KD 5, and KD 10 notes. A KD 20 banknote was added later, on February 9, 1986.

During the Invasion of Kuwait, many of these notes were stolen by Iraqi forces. Because of this, the third series was made invalid starting September 30, 1991.

Fourth Series of Banknotes

After Kuwait was freed, a fourth series of banknotes was released on March 24, 1991. The goal was to quickly replace the stolen and old notes. This series helped Kuwait's economy recover fast. These notes were valid until February 16, 1995. They came in values of KD 1⁄4, KD 1⁄2, KD 1, KD 5, KD 10, and KD 20.

Fifth Series of Banknotes

The fifth series of Kuwaiti banknotes was used from April 3, 1994. These notes had advanced security features to prevent fake money. This series was taken out of use on October 1, 2015. The values were the same as the fourth series.

Fifth series Kuwait banknotes
Front	Back	Value	Front Design	Back Design
		KD 1⁄4	Coat of arms of Kuwait; Kuwaiti Dhow "Al-Mouhaleb" ship; Kuwaiti Chest	Young girls playing a traditional game
		KD 1⁄2	Coat of arms of Kuwait; Kuwaiti Money Changers' Stalls; Kuwaiti Coffee Pot	Young boys playing a traditional game with marbles
		KD 1	Coat of arms of Kuwait; Traditional Oil Lamp; Kuwait Towers	Mina Al-Shuwaikh port; Traditional Water Storage Vessel
		KD 5	Coat of arms of Kuwait; Liberation Tower; Traditional Grinding Stone	Oil Refinery; A’Zour Power Station; Kuwaiti Water Tanks; Electricity Pylons
		KD 10	Coat of arms of Kuwait; Traditional water vessel; The Grand Mosque	Fishermen; Dhow under full sail; Traditional Kuwaiti door; Pearl diving scene; Kuwaiti incense burner
		KD 20	Coat of arms of Kuwait; Cannon; Red Fort at Jahra	Central Bank of Kuwait building; City gate of the old wall

Sixth Series of Banknotes

The Central Bank of Kuwait released the sixth series of banknotes on June 29, 2014. Some of these notes have a rough texture. This helps people who are blind or have low vision identify the different values by touch.

Sixth series Kuwaiti banknotes
Front	Back	Value	Size (millimeters)	Color	Front Design	Back Design	Release Date
		KD 1⁄4	110 x 68 mm	Brown	Liberation Tower and a dhow ship	Traditional wooden Kuwaiti door and the first Kuwaiti coin	June 29, 2014
		KD 1⁄2	120 x 68 mm	Green	Kuwait Towers and a dhow ship	Hawksbill sea turtle and the silver Pomfret fish (Al Zubadi)	June 29, 2014
		KD 1	130 x 68 mm	Grey	The Grand Mosque, a bateel dhow ship	Ancient Greek Civilization influences in Kuwait's Failaka Island	June 29, 2014
		KD 5	140 x 68 mm	Purple	New headquarters of the Central Bank of Kuwait	Oil refinery and an Oil Tanker	June 29, 2014
		KD 10	150 x 68 mm	Pink	The National Assembly of Kuwait, a sambuk dhow ship	Falcon and camel with a sadu saddle	June 29, 2014
		KD 20	160 x 68 mm	Blue	Seif Palace, a dhow ship	Kuwaiti pearl diver and Al-Boom traditional Kuwaiti dhow ship	June 29, 2014

Special Commemorative Banknotes

The Central Bank of Kuwait has also released special banknotes to celebrate important events.

In 1993 and 2001, they issued KD 1 polymer banknotes. These were to celebrate Kuwait's freedom from Iraq. The first one, from February 26, 1993, marked the second anniversary of its liberation. It showed a map of Kuwait and listed the countries that helped free it.

The second special note, from February 26, 2001, celebrated the tenth anniversary. It had a special patch that showed a fingerprint. This was a way to remember the people affected by the invasion. Even though these notes were KD 1, they were not meant for everyday use.

Kuwaiti Dinar Value

From March 18, 1975, to January 4, 2003, the value of the dinar was linked to a group of different currencies. This is called a "currency basket."

From January 5, 2003, to May 20, 2007, the dinar's value was linked to the US dollar. One US dollar was equal to about KD 0.29963.

Since June 16, 2007, the Kuwaiti dinar has been linked back to a basket of currencies. As of December 2016, it was worth about $3.28. It continues to be the world's most valuable currency unit.

Average exchange rate of Kuwaiti dinar against US dollar (fils)

See also

• Kuwait
• Economy of Kuwait
• Jordanian dinar
• Iraqi dinar