Currency profile
Kuwaiti Dinar (KWD)
The Kuwaiti dinar (KWD) is the official currency of Kuwait, divided into 1,000 fils. It is pegged to an undisclosed weighted basket of currencies and is, by exchange value, the highest-valued currency unit in the world.
The Kuwaiti Dinar today
Mid-market · as of 6:12 PM GST
The dinar is pegged to an undisclosed basket of currencies rather than to the US dollar alone, so its rate against the dollar and the dirham moves a little from day to day. It is the world’s highest-valued currency unit.
Exchange-rate regime
Pegged to a currency basket. The dinar is pegged to an undisclosed weighted basket of the currencies of Kuwait’s main trading and financial partners. Kuwait returned to a basket peg on 20 May 2007, having been fixed to the US dollar between 2003 and 2007. The basket weights are not published, so the exact composition is not public.
The issuing central bank
The Central Bank of Kuwait, established in 1969, issues the dinar and sets the exchange-rate policy that manages it against a basket of currencies.
History
- 1961The Kuwaiti dinar was introduced in 1961, replacing the Gulf rupee.
- 1969The Central Bank of Kuwait was established as the issuing authority.
- 2003Kuwait fixed the dinar to the US dollar on 5 January 2003.
- 2007On 20 May 2007 Kuwait re-pegged the dinar to a weighted basket of currencies, ending the sole dollar peg.
Coins and banknotes
One dinar is divided into 1000 fils. Coins: 5, 10, 20, 50 and 100 fils. Banknotes: ¼, ½, 1, 5, 10 and 20 dinars, issued by the Central Bank of Kuwait.
Popular Kuwaiti Dinar pairs
What moves it
- The dinar tracks an undisclosed basket of currencies, so it moves partly with the dollar and partly with Kuwait’s other partner currencies.
- Kuwait’s economy and reserves rest heavily on oil exports, which underpin the currency’s strength.
- As a Gulf economy that hosts many expatriate workers, large volumes of dinars are exchanged for remittance currencies (World Bank).
Structural facts reviewed 8 August 2026 · reviewed quarterly. Sources: Central Bank of Kuwait · World Bank. Live rates are mid-market — see our Methodology and Editorial Policy.