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 ?
Still, you should always consider trading the Kuwaiti Dinar in line with your existing portfolio, rather than investing in this currency based on its value alone.
engineering firm Fluor Corporation, will also take a contract at Mina Abdullah with a bid of 962 million Kuwaiti Dinars
COThe Central Bank has subsequently reverted to the historical process of permitting coverage at the declared rate of customer generated Kuwaiti dinar exchange position only, which in no way restricts the ability of banks to quote Kuwaiti dinar foreign exchange rates either in the interbank market or their own customers,CO it added.
He stressed that despite the drop in returns of Kuwaiti dinar compared to other currencies, they remain competitive and the Kuwaiti dinar retains its value.
Treasury Department Manager Abdul Wahab Al-Roshoud stated that the three-year deposit in Kuwaiti dinar has achieved returns until the end of Q4 of last year 1.1 per cent, and noted that the returns are acceptable when compared to the returns of other currencies; in addition to the stability that the Kuwaiti economy witnesses and the support that the government offers national banks.
So, ultimately the Kuwaiti dinar did not change much but their currency has increased against the dollar.
The fund is denominated in Kuwaiti Dinars; the minimum investment in the Fund is KWD30,000 ($104,467) with multiples of KD10,000.
The issue is divided into four tranches, two Kuwaiti Dinar dominated and two US Dollars dominated, with interest paid on a semi-annual basis.
KUWAIT, Jan 13 (KUNA) -- The exchange rate of the main currencies, namely the US dollar, Euro, Yen, Swiss Franc and the pound sterling were all stable against the Kuwaiti dinar on Tuesday, compared to yesterday's exchange rate.
KUWAIT, Oct 1 (KUAN) -- The USD exchange maintained stability against the Kuwaiti dinar on Wednesday, at KD 0.288, however the euro dropped to KD 0.363 compared with Tuesday's rate.
KUWAIT, Sept 2 (KUNA) -- Exchange rate of the US greenback vis-a-vis the Kuwaiti dinar was unchanged on Tuesday, trading at KD 0.284 per dollar.
The figure brings the total loss of the first half of this year to 9.9 million Kuwaiti dinar -- down from 1.73 million Kuwaiti dinar in losses during H1 2013.