Country ISO code: KW

Official language: Arabic

Language ISO code: ar

Current official currency: Kuwaiti Dinar

Current currency ISO code: KWD

Currency: Kuwaiti Dinar (KWD)

• ISO code: KWD

• Symbols and signs: دينار symbol "د.Ùƒ"

• Singular name: Dinar (دينار)

• Plural name: Dinars (دنانير)

• Monetary subdivision: 1 Dinar = 1000 Fils (فلس)

• Fraction singular name: Fil (فلس)

• Fraction plural name: Fils (فلوس)

• Initial production date: 1961 (after Kuwait’s independence)

• Final production date: still in production

• Initial circulation date: 1961

• Final circulation date: currently in circulation

• Mint: not specifically identified; coins are usually minted at renowned international mints

• Issuing bank: Central Bank of Kuwait

• Coin denominations minted: 1, 5, 10, 20, 50 fils

• Banknote denominations printed: ¼, ½, 1, 5, 10, 20, 50 dinars

Historical and economic context

• Before independence in 1961, the Gulf Rupee (issued by British India and later Oman) was the circulating currency.

• The Kuwaiti Dinar was introduced in 1961, replacing the Gulf Rupee at a rate of 1 Dinar = 10 Gulf Rupees.

• The dinar is one of the highest-valued currencies globally and the strongest among Arab currencies.

• Kuwait’s economy is heavily dependent on oil, which supports the dinar’s stability and strength.

• Banknotes feature advanced security elements and designs highlighting Kuwaiti cultural heritage, such as traditional dhows, historic buildings, and the national flag.

• Banknotes are signed by governors of the Central Bank of Kuwait, with names and titles varying by issuance.

• Commemorative coins are occasionally issued to mark national and religious events, such as Kuwait’s independence.

Issuing authority and legislation

• The Central Bank of Kuwait is the sole authority responsible for issuing and regulating the currency.

• The Kuwaiti Dinar is actively circulated; no other official currencies are in use within the country.

• Strict laws govern currency issuance, circulation, and counterfeiting protection.

Summary of currency denominations

This report provides a comprehensive financial history of دولة الكويت (State of Kuwait), highlighting the Kuwaiti Dinar as the current official currency, its features, economic context, and issuance and circulation details.