Kuwaiti Dinar

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Kuwaiti Dinar

The currency of Kuwait. It was issued in 1961, replacing the Gulf rupee. It was initially pegged to the British pound. Between 1975 and 2003, it was pegged to a currency basket. In 2003, it shifted the peg to the U.S. dollar. However, Kuwait shifted the peg back to a currency basket in 2007 because the dollar was weak at the time, resulting in high inflation for the dinar.
References in periodicals archive ?
In June, two men were arrested following the seizure of 100 kilograms of hashish worth an estimated 2 million Kuwait dinars (Dh25 million).
Sabah al-Ahmad al-Sabah donated 1,000 Kuwait Dinars to every one of his country's 1.
6 million Kuwait dinars in the fourth quarter last year, based on Reuters calculations, compared with an estimated profit of 20 million for the period.
5 million Kuwait dinars ($706 million) for the nine months to Sept.
24 million Kuwait dinars while its revenues also increased by 11 per cent to 314.
In the report, Al Qabas said that one MP received 17 million Kuwait dinars ($61,347,500) and the second 8 million dinars ($28,869,400) over a period of few days, causing concerns within the bank.
26 million Kuwait dinars (Dh4,323 million) compared to 277.

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