Kuwaiti Dinar (KWD) Exchange Rate Overview
The Kuwaiti Dinar (KWD) is the official currency of Kuwait, known for being one of the most valuable currencies in the world. Its stability and high value are attributed to Kuwait’s strong economic position and vast oil reserves. When it comes to currency exchange, understanding the Kuwaiti Dinar’s value and its conversion rates to other major currencies is essential for anyone dealing with international transactions involving Kuwait.
In this article, we will provide an in-depth look at the Kuwaiti Dinar exchange rate, focusing on its conversion to the US Dollar (USD) and Indian Rupee (INR). We will also explore the history of these exchange rates, the factors influencing the Kuwaiti Dinar’s value, and provide useful tools and resources for converting KWD to other currencies.
What is the Kuwaiti Dinar (KWD)?
The Kuwaiti Dinar (KWD) is the official currency of Kuwait, a small country located in the Persian Gulf region. The currency code for the Kuwaiti Dinar is KWD, and its symbol is KD. The Kuwaiti Dinar is subdivided into 1,000 fils and is issued by the Central Bank of Kuwait.
The Kuwaiti Dinar is available in both coins and banknotes. The coin denominations include 1 fils, 5 fils, 10 fils, 20 fils, 50 fils, and 100 fils. The banknote denominations are KD ¼, KD ½, KD 1, KD 5, KD 10, and KD 20.
Why is the Kuwaiti Dinar so valuable?
The Kuwaiti Dinar is known for being the most valuable currency in the world, with a value range of 2.5 to 3 times higher than the US Dollar, Euro, and British Pound. The high value and stability of the Kuwaiti Dinar can be attributed to several factors:
- Economic stability: Kuwait has a strong and stable economy, largely supported by its vast oil reserves, which are among the largest in the world.
- Pegged to a basket of currencies: Since May 2007, the Kuwaiti Dinar has been pegged to an undisclosed basket of currencies, with a heavy weight towards the US Dollar. This helps maintain the stability of the Kuwaiti Dinar.
- Limited circulation: The Kuwaiti Dinar has a relatively limited circulation compared to other major currencies, which contributes to its high value.
KWD to USD Exchange Rate
The US Dollar (USD) is one of the most widely traded currencies in the world and is often used as a benchmark for other currencies. Understanding the exchange rate between the Kuwaiti Dinar and the US Dollar is crucial for anyone dealing with transactions involving these two currencies.
Current KWD to USD Exchange Rate
As of June 19, 2024, at 09:39 UTC, the mid-market exchange rate for KWD to USD is:
| 1 KWD | 3.26186 USD |
|---|
Please note that this rate is for informational purposes only and may not reflect the actual rate used for currency conversion at financial institutions or currency exchange providers.
KWD to USD Exchange Rate History
To better understand the fluctuations in the KWD to USD exchange rate, let’s take a look at the historical data for the past 30 and 90 days:
| Period | Low | High | Average | Volatility |
|---|---|---|---|---|
| 30 Days | 3.2489 | 3.2639 | 3.2594 | 0.09% |
| 90 Days | 3.2352 | 3.2639 | 3.2523 | 0.11% |
As evident from the data, the KWD to USD exchange rate has been relatively stable, with low volatility over the past 30 and 90 days.
KWD to INR Exchange Rate
The Indian Rupee (INR) is another currency that is frequently exchanged with the Kuwaiti Dinar, given the strong economic ties between Kuwait and India. Let’s take a closer look at the current KWD to INR exchange rate and its historical data.
Current KWD to INR Exchange Rate
As of June 19, 2024, at 13:48 UTC, the mid-market exchange rate for KWD to INR is:
| 1 KWD | 272.14 INR |
|---|---|
| 1 INR | 0.00367454 KWD |
Please keep in mind that this rate is for informational purposes only and may differ from the actual rate used by financial institutions or currency exchange providers.
KWD to INR Exchange Rate History
Historical exchange rate data for KWD to INR can help identify trends and patterns in the currency pair’s performance. This information can be useful for making informed decisions when dealing with transactions involving these currencies.
Note: Detailed historical data for KWD to INR exchange rate is not provided in the given information.
Other Popular Kuwaiti Dinar Exchange Rates
In addition to the USD and INR, the Kuwaiti Dinar is frequently exchanged with various other currencies. Some of the most popular Kuwaiti Dinar exchange rates include:
KWD to EUR Exchange Rate
The Euro (EUR) is the official currency of 19 of the 27 member states of the European Union. It is the second most traded currency in the foreign exchange market, after the US Dollar.
KWD to GBP Exchange Rate
The British Pound Sterling (GBP) is the official currency of the United Kingdom and is the fourth most traded currency in the foreign exchange market.
Other notable KWD exchange rates include KWD to JPY (Japanese Yen), KWD to CAD (Canadian Dollar), KWD to AUD (Australian Dollar), KWD to CHF (Swiss Franc), and KWD to CNY (Chinese Yuan).
Kuwaiti Dinar Exchange Rate Tools & Resources
To help individuals and businesses navigate the world of currency exchange, several tools and resources are available. One of the most popular and reliable platforms is Xe.
Xe Currency Converter
Xe.com Inc., founded in 1995, is a leading provider of currency exchange services. The Xe Currency Converter is a user-friendly tool that allows users to quickly and easily convert between various currencies, including the Kuwaiti Dinar.
Other Xe Currency Tools & Services
In addition to the currency converter, Xe offers a range of tools and services to help users stay informed about currency exchange rates and manage their international transactions. These include:
- Money Transfer: Xe provides international money transfer services, allowing users to send money abroad securely and efficiently.
- Currency Charts: Users can access live and historical currency charts to track the performance of various currency pairs, including KWD to USD and KWD to INR.
- Rate Alerts: Xe offers a rate alert service that notifies users when a specified exchange rate is reached, helping them stay on top of currency fluctuations.
- Currency Data API: For businesses and developers, Xe provides a currency data API that allows integration of real-time exchange rate data into their applications and systems.
- Xe App: The Xe currency app, available for both Android and iOS devices, provides users with on-the-go access to live exchange rates, currency charts, and other useful features.
By utilizing these tools and resources, individuals and businesses can make informed decisions and effectively manage their currency exchange needs involving the Kuwaiti Dinar.
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