KWD


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KWD

The ISO 4217 currency code for the Kuwait Dinar.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

KWD

ISO 4217 code for the Kuwaiti dinar. 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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in periodicals archive ?
The second agreement is valued at KWD 60m, and it will finance the project of generating electricity in Damanhour power plant.
Kollross said KWD is hoping to make items from recycled Styrofoam as soon as next year.
"Non-bank financials saw an increase in borrowing, with credit gaining by KWD 15 million.
The Kuwaiti fund has previously financed the reclamation of 400,000 acres of land in Sinai with a total value of KWD 45m and the steam electricity station in Sidi Kerir with KWD 38.8m.
Total assets as of end of March 2015 reached $77.7 billion (KWD 23.3 billion) up 13.8 per cent compared to March 2014, while total shareholders' equity increased by 5.3 per cent to $8.7 billion (KWD 2.6 billion).
Credit to the sector was down by another KWD 20 million in January, bringing the year-on-year decline to 12.8 per cent.
Household borrowing maintained its strong growth in August, gaining KWD 105 million on the month.
In a statement to the Kuwait Stock Exchange, Gulf Bank reported net profit for Q1 2013 of KWD 7.935 million, up from KWD 7.37 million a year earlier.
Net income dropped to KWD 20.1 million from KWD 22.6 million for the same period last year, when the bank reported a 26 per cent drop in profits from the same period in 2010.