The Kuwaiti dinar is the official currency of the state of Kuwait and is divided into 1000 fils. Its ISO 4217 code is KWD (from English, Kuwaiti dinar).
Compare rates at 80 currency stores in 34 cities
As of June 27, 2023, the currency equivalence of the Kuwaiti dinar with respect to the euro is:
- 1 euro = 0.34 KWD dinars.
- 1 dinar = 2.94 euros
The name of the word dinar comes from the Latin denarius which means coin of ten values. Other countries in the world that use their own dinars are Bahrain (Bahraini dinar), Algeria (Algerian dinar), Jordan (Jordanian dinar) and Tunisia (Tunisian dinar).
History of the Kuwaiti dinar
The contemporary history of 19th and 20th century Kuwait is that of a country strategically well situated on the trade routes linking India to the Middle East. It also became the most important enclave for shipbuilding in the Persian Gulf. At the beginning of the 20th century, this hegemony began to decline and Kuwait, an independent emirate, had to submit to the control of the British Empire.
The tables turned when in 1937 the first oil wells were prospected in Kuwaiti territory and a lot of money began to arrive in exchange for their crude. Kuwait gained independence from the United Kingdom in 1961, and the Kuwaiti dinar was introduced as a substitute for the Gulf rupee in April of that year. Its initial value was equated to that of one pound sterling and with an exchange rate against the old rupee of Rs 13.5 per KWD.
Compare rates at 80 currency stores in 34 cities
After Iraq’s invasion of Kuwait in 1990, the KWD was temporarily replaced by the Iraqi dinar. After the liberation of the country, the Kuwaiti dinar was recovered again as Kuwait’s currency, introducing new banknotes and coins that canceled the previous ones (most of them stolen during the Iraqi invasion).
Kuwaiti dinar coins
The Kuwaiti dinar is divided into 1000 fils. All the coins reproduce typical boats of the Arabian Gulf. Their denominations in circulation are these: 1, 5, 10, 20, 50 and 100 fils.
1 fils coin
1 fils coin Kuwait
5 fils coin
5 fils coin Kuwait
10 fils coin
10 fils coin Kuwait
20 fils coin
20 fils coin Kuwait
50 fils coin
50 fils coin Kuwait
100 fils coin
100 fils coin Kuwait
These denominations of the current Kuwaiti coins were introduced on April 1, 1961. Today the same denominations from then are maintained. Also the same old designs and materials (copper, nickel and zinc).
Kuwaiti dinar banknotes
The Central Bank of Kuwait (CBK) is the only one authorized to print Kuwaiti dinar banknotes in the country. And since its founding in 1961, it has launched six series of banknotes.
The official CBK banknotes in circulation (series 6) have the following denominations:
- 1/4 dinar,
- 1/2 dinar,
- 1 dinar,
- five dinars,
- ten dinars and
- 20 dinars.
This sixth series, the current one in force, dates from June 29, 2014.
The notes of the previous fifth series, already in disuse, can be exchanged at the CBK headquarters for 10 years until 2025, accompanied by an identity document and after filling out a form from the Central Bank.
All of them show visual representations of significant buildings, constructions and elements of Kuwait and its economic achievements. They all show a unified background with the Kuwait flag.
Thinking of people with difficulties, their sizes are ascending with their value and incorporate tactile elements, easily recognizable by touch.
Quarter kuwaiti dinar banknote (1/4 KWD)
They are brown in color and have unusual measurements for what we are used to in Spain, 110 x 68 millimeters. The obverse recreates the Liberation Tower, a massive 372-meter structure, one of the main landmarks in Kuwait City. This tower is the symbol of Kuwait’s independence from the British and was inaugurated in 1996.
The reverse shows a typical and classic Kuwaiti wooden door.
Quarter kuwaiti dinar banknote
This quarter-dinar banknote would be equivalent to the change of about 66 euro cents, in June 2023 in currency suppliers in Spain.
Half kuwaiti dinar banknote (1/2 KWD)
The Kuwaiti half dinar note is green in color and measures 120 x 68 millimeters. It shows on the obverse the most iconic building in the country, the Kuwait Towers, rising mightily into the sky. The reverse is dedicated to the hawksbill turtle, representative of the country’s marine fauna.
Half kuwaiti dinar banknote
This half dinar banknotes would be equivalent to the change of about 1.32 euros in June 2023 in currency suppliers in Spain.
1 kuwaiti dinar banknote (1 KWD)
The 1 dinar note is green/blue in color and measures 130 x 68 millimeters.
The obverse of the banknote illustrates the Grand Mosque (the largest in the country), as a symbol of Kuwait’s Islamic identity. The reverse of the note shows a column of ancient Greek civilization that spread and settled on Failaka Island in Kuwait.
1 kuwaiti dinar banknote (1 KWD)
This one dinar banknotes would be equivalent to the change of about 2.65 euros in June 2023 in currency suppliers in Spain.
5 kuwaiti dinar banknote (5 KWD)
They are violet in color and measure 130 x 68 millimeters.
The obverse depicts the new Central Bank of Kuwait as a symbol of resilience, stability and sound monetary policy. The reverse of the note shows one of Kuwait’s oil refineries as a testament to the source of national prosperity.
5 kuwaiti dinar banknote (5 KWD)
This banknotes of a quarter of a dinar would be equivalent to the change of about 13.25 euros in June 2023 in currency suppliers in Spain.
10 kuwaiti dinar banknote (10 KWD)
The 10 dinar banknotes is a light brown note that measures 150 x 68 millimeters. The obverse of the note shows the Kuwait National Assembly (parliament) building. The reverse shows animals from the Kuwaiti desert: a falcon watches over a seated camel wearing a traditional sadu saddle.
10 kuwaiti dinar banknote (10 KWD)
This ten-dinar banknotes would be equivalent to the change of about 26.50 euros in June 2023 in currency suppliers in Spain.
20 kuwaiti dinar banknote (20 KWD)
This is a blue note measuring 160 x 68 millimeters. On the obverse of the note appears the illustrious Seif Palace, residence of the former rulers of Kuwait where the country’s affairs are administered. The Boom, Kuwait’s largest and most popular traditional dhow, appears on the reverse of the note.
The country’s rich economic and commercial history is linked to the deep blue seas and this vessel. Another item included on the reverse is a pearl diver, one of the earliest professions that allowed Kuwaitis to earn a living before the discovery of oil.
20 kuwaiti dinar banknote (20 KWD)
This twenty-dinar note would be equivalent to the change of about 53 euros in June 2023 in currency suppliers in Spain.
Euro to Kuwaiti dinar exchange rate
The euro to kuwaiti dinar exchange rate has remained steady between 0.335 and 0.345 KWD per euro for the last 5 years.
Euro to Kuwaiti dinar exchange rate 27 June 2023
But keep in mind that this graph represents the value of the Kuwaiti dinar “currency” against the euro, and not that of the real paper currency, which is lower.
In fact, in currency suppliers in Spain you can buy dinars at an exchange rate of around 0.308 KWD for each euro, in the best of cases (Cambiator) or, much worse, 0.22 at the airport. Nothing to do with the euro-Kuwaiti dinar currency exchange today at 0.34.
So, when you see these values in Google and other currency converters with your mobile, you should keep the following in mind:
-It is an unofficial rate, and therefore unreliable. In other words, if you click on the “Disclaimer” link, you will get this warning from Google Finance: “Google cannot guarantee the accuracy of the exchange rates displayed. Please confirm current rates before making a transaction that may be affected by changes in exchange rates.”
-These rates you see are usually wholesale prices of the Kuwaiti Dinar currency against the Euro currency (currency and banknote currency are not the same thing).
These rates can only be held by banks among themselves, that is, it is impossible to obtain it as an individual. It is what is known as the interbank exchange rate.
If you need dinars in banknotes, you will have to go through the banknote retail market (bank or currency supplier). This market means that the dinars have had to be “transported” by someone for you to enjoy them (or bought from travelers from Kuwait passing through Spain previously).
In other words, moving banknote from one place to another has logistical costs that will make their sale price more expensive (the exchange rate that will be applied by whoever sells them to you).
The Kuwaiti dinar is a quite difficult currency to obtain in our country. In any case, its price is usually more expensive in Spain than in Kuwait. If you decide to buy dinars in Spain, it is good to anticipate the purchase and order them online to obtain a better price.
Where to exchange Kuwaiti dinars in Spain
The three most common places to exchange Kuwaiti dinars for euros in Spain are: banks, currency suppliers and currency suppliers at the airport. It is not advisable to change at the airports due to the high exchange margins that they will charge you.
For their part, none of the large banks (Santander, BBVA, Caixabank and Sabadell) market Kuwaiti dinars. And if they did, they would charge you, in addition to an exchange rate with their margin, a commission of between 2.5 and 3% on your euros, which does not make them interesting for exchanging currency in general.
The currency suppliers that collaborate with Cambiator do sell KWD, which are transparent with their rates, do not charge commissions and have very competitive rates.
Euro to Kuwaiti dinar exchange rate today
To find out the Euro to Kuwaiti dinar exchange rate today, the best thing you can do is use our currency comparator:
- Change Euros to Kuwaiti dinars (EUR-KWD)
- Change Kuwaiti dinars to euros (KWD-EUR).
Other popular currencies
Best rate of the day (exchange euros to another currency)
Sin comentarios