The most expensive currency in the world? The Kuwaiti dinar is the expensive currency in the world.
Since the exchange rate of a dinar against the US dollar was around 3.31 dollars,
The Kuwaiti dinar has gained global strength through support linked to the production of crude oil from Kuwait.
Consequently, Kuwait is also one of the main exporters of petroleum derivatives to most countries in the world. The Kuwaiti dinar witnessed an effect on its exchange rate,
Especially in the 60s of the 20th century, then in the 90s with the outbreak of the Gulf War,
But in 2013, the Kuwaiti currency experienced remarkable growth in its exchange rate, which led to its classification as the most expensive currency in the world.
Kuwaiti dinar issues
The Kuwaiti dinar is subject to Kuwaiti trade law.
This was approved by law in 1968 and contributed to the regulation of banking operations and the issuance of funds by relying on the Central Bank of Kuwait,
Since it is considered the only concessionaire to issue money, since it has started trading in Kuwaiti dinars since 1961,
The monetary unit of the Kuwaiti dinar is divided into 1,000 threads and the Kuwaiti currency is divided into six categories:
It’s a quarter of a dinar, a half-dinar, a dinar, five dinars, ten dinars and twenty dinars
And published by the Kuwaiti dinar since its official adoption until today, the following publications:
The first version is the first version of the Kuwaiti dinar, which was used to become the national currency of Kuwait,
Instead of the Indian rupee, this version was approved on 1-4-1961 and then ceased to be managed,
It lost its cash value in 1982 and continued to exchange it from the Central Bank of Kuwait until 1992.
This number is divided into five categories: a quarter of a dinar, a half-dinar, a dinar, five dinars and ten dinars.
The second version is the second version of the Kuwaiti dinar, which was implemented in two stages:
Initially, the currencies were issued in categories: a quarter of the dinar, a half dinar and ten dinars on 17-11-1970
The second step was issued from parts of the categories:
One dinar, five dinars On 04/20/1971, this issue was stopped in 1982 and the Central Bank stopped replacing it in 1992.
The third version
The third issue was raised by the Central Bank of Kuwait in 1980.
Then the currency circulated in the twenty dinars in 1986 officially on the Kuwaiti markets,
The processing of these banknotes was suspended and replaced by the Central Bank in 1991, when the war broke out. The second bay
The fourth issue is that raised by the Central Bank of Kuwait, after it immediately ceased dealing with the third issue, and this issue was raised in 1991,
But it stopped dealing with it in 1994, and it lost its legal value as an official currency in 1995,
The central bank stopped replacing it in 2004
The fifth version is the version circulating since 1994 and is characterized by a specification,
Advanced technical features, which contribute to a high level of security,
It has stopped printing and has not been used since 2015,
It is still subject to exchange via the Central Bank of Kuwait for a period of ten years, i.e. until 2025.
The sixth version is the current and official version in circulation in the State of Kuwait,
It was put into circulation on 29-29-2014 and a set of images indicating the culture and heritage of Kuwait was used in its design.
It also contains many forms, animations, security threads and the use of the Central Bank in its design with high quality banknotes, and this problem is divided into 6 categories of cash:
A quarter of a dinar, a half-dinar, a dinar, five dinars, ten dinars and twenty dinars.