Kuwaiti Dinar (1 KWD= 3.51 USD= 215.0 Indian Rupees)
In an area slightly smaller than New Jersey, lies the home of the world’s most valuable currency. Kuwait has been involved in talks in year 2013 with five other Gulf Arab monarchies to form a single currency. The Kuwait currency is currently pegged to the dollar.
Most valuable currency doesn't necessarily mean that the currency is better investment option or that it represents a better economic health of a nation.
Most valuable currency doesn't necessarily mean that the currency is better investment option or that it represents a better economic health of a nation.
The dinar (Arabic: دينار, ISO 4217 code KWD) is the currency of Kuwait. It is sub-divided into 1,000 fils. It is the highest-valued currency unit in the world.
The dinar was introduced in 1961 to replace the Gulf rupee. It was initially equivalent to one pound sterling. As the rupee was fixed at 1 shilling 6pence, 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 as the currency and large quantities 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, allowing the previous notes, including those stolen, to be demonetized.
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