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 that has a strong position for a long time now.
Yes, the Kuwait Dinar is the strongest currency in the world! Any list of currencies by value will have the Kuwait Dinar at the very top!
The Kuwaiti Dinar is the official currency of Kuwait, a country located 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 the 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
Tough the Kuwait Dinar is the strongest currency in the world, the US dollar remains the most popular currency in the world.
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. Of all the currencies stronger than USD, the Kuwait Dinar is the highest.
Source: xe.com
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.
Other Top Currencies
Why Is The Kuwait Dinar The Highest In The World?
The Kuwaiti Dinar is the currency of Kuwait which is the strongest currency in the world in terms of the exchange rate. This means that the Kuwait Dinar will have the highest exchange rate when converted to any other currency in the world.
You will note that is is first on our list of the highest currencies in the world. This simply means that the Dinar is the most expensive currency in the world.
It also means that the Dinar has a crucial role to play in the world economy. In this article, you are going to find out some interesting facts about the Kuwaiti Dinar that makes it unique and interesting.
The Kuwait Dinar is the highest ion the world because of its oil reserves. Oil is in demand on the world market and Kuwait has a lot of it. This demand keeps the Dinar rather high. Also, the Dinar is pegged to multiple currencies.
Interesting facts about Kuwaiti Dinar
- The Kuwaiti Dinar is officially the most valuable currency in the world.
- It was introduced in 1961 as a replacement for the Gulf Rupee.
- At one point in time, its value was equal to British Pound Sterling.
- There was even a time when the Kuwaiti Dinar was replaced by the Iraqi Dinar.
- To date, five series of Kuwaiti Dinar banknotes have been printed.
- One Kuwaiti Dinar equals 1,000 fils.
- Kuwaiti Dinar is available in both coins and notes in different denominations.
- Though its the strongest current in the world, it is not the most popular currency in the world.
Those were some of the most interesting facts about Kuwaiti Dinar. Since this currency has the highest monetary value in the world, a lot of people come to Kuwait every year looking for jobs.
Besides being rich in oil and having a very stable economy, Kuwait is also a tax-free country.
This is another factor that attracts people from other parts of the world to Kuwait.
Those were some of the most fascinating facts about Kuwaiti Dinar. Tell us what you think about them. Do you know more such facts? Share with us if you do.