Currency rates keep fluctuating year after year. However, some currencies remain strong despite the changes in the currency market. The Kuwaiti Dinar is one such currency in the world which has a strong position for a long time now.
The Kuwaiti Dinar is the official currency of Kuwait, a country located in between Iraq and Saudi Arabia. The country is prosperous owing to its trade and oil. The result of this prosperity is the high value of Kuwait’s currency. As of 2019, it is the highest valued currency in the world.
The current rate of Kuwaiti Dinar as against the US Dollar is:
1 Kuwaiti Dinar = 3.29 US Dollar
Against the Euro, it is:
1 Kuwaiti Dinar = 2.90 Euro
Kuwaiti Dinar and the American Dollar
The Kuwaiti Dinar has been the highest valued currency in the world for the last five years. There has been very less fluctuation in the value of the US Dollar against the Kuwaiti Dinar. Take a look at this chart to understand what we mean.
|Year||Currency||Country||USD value against KWD|
|2015||Kuwaiti Dinar (KWD)||Kuwait||Lowest = 3.28
Highest = 3.57
|2016||Kuwaiti Dinar (KWD)||Kuwait||Lowest = 3.26
Highest = 3.55
|2017||Kuwaiti Dinar (KWD)||Kuwait||Lowest = 3.26
Highest = 3.37
|2018||Kuwaiti Dinar (KWD)||Kuwait||Lowest = 3.26
Highest = 3.37
|2019||Kuwaiti Dinar (KWD)||Kuwait||Lowest = 3.28
Highest = 3.34
Graph representing the value of the USD against the KWD in the last five years.
As seen from the graph above, the lowest value of the USD against the Kuwaiti Dinar in the past five years has been around 3.25 while the highest value has been around 3.55.
As per the recent currency rate predictions, the Kuwaiti Dinar is going to maintain its position as the top-valued currency in the world for quite some time.
A brief history of the Kuwaiti Dinar
Introduced in 1968, the Kuwaiti Dinar became the official currency of Kuwait, replacing the Gulf rupee which had a value equal to one Pound Sterling. With the invasion of Kuwait by Iraq in 1990, banknotes were stolen in large quantities. However, after Kuwait got rid of the Iraqi invasion, Kuwaiti Dinar got restored and a new banknote series got introduced. Also, the previous notes got demonetized.