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The history of the emergence of Kuwait Currency is quite interesting. Kuwaiti Dinar which is denoted by KWD is currently the official currency of Kuwait. But always it was not in use. From the history of Kuwait Currency we come to know that earlier Indian Rupee was circulated in Kuwait and later on Persian Gulf Rupee issued by the Reserve Bank of India, took its place and was in use till April 28, 1959. Kuwaiti Dinar became the Currency of Kuwait in 1960 when it was introduced to replace all the currencies that were in use. The issue of the Kuwati Dinar is bestowed upon the State of Kuwait and the Central Bank of Kuwait is the only organization that can handle it. Kuwait Currency was first put into circulation in April 1, 1961. This first issue of Kuwaiti Dinar was divided into one thousand Fils. This First Issue was withdrawn on February 1, 1982 and ceased to exist legally from May 31, 1982. The second issue was introduced by the Central Bank of Kuwait, in 1970. Then the denominations of Kuwait Currency were KD 1/4, 1/2 and 10, 1 and 5. The second issue was also withdrawn from February 1, 1982 and ceased to exist absolutely from February 1, 1992. The third issue of Currency in Kuwait was introduced on February 20, 1980. The denominations initially introduced were KD 10, 5, 1, 1/2 and ¼ and then on January 27, 1986, a new currency note of denomination KD. 20 were introduced. Within 45 days of the withdrawal of this Kuwait Currency, it ceased to exist legally. This was a unique incident, because of the Iraqi invasion.
The fourth issue of Kuwait Currency was introduced by the Central Bank of Kuwait on March 24, 1991 after the liberation of Kuwait from the Iraqi occupation. This was also withdrawn from circulation on August 17, 1994. Central Bank of Kuwait stopped the right of exchange of these currency notes from August 16, 2004. The fifth issue of the Kuwait Currency which is currently in circulation in Kuwait became effective from April 3, 1994. These currencies have superb technical features ensuring the security of the currency from forgery.
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