Kuwaiti Dinar:
Issuing and circulating Kuwaiti currency, including banknotes and coins, is governed by Law No. (32) of 1968 and its amendments. The exclusive authority to issue currency lies with the state, specifically the Central Bank of Kuwait. Since its introduction in 1961, the Kuwaiti currency has undergone six editions, each representing a significant chapter in Kuwait's financial history.The First Issue:
The Kuwaiti Currency Board issued the first Kuwaiti currency (notes and coins), to replace the currencies that were in circulation, such as the Indian rupee, on Saturday, April 1, 1961.
Tuesday, November 17, 1970, then the banknotes were introduced in the categories (one dinar, half a dinar, and ten dinars) corresponding to April 20, 1971.
The Central Bank of Kuwait put the banknotes of the third issue into circulation on Wednesday corresponding to February 20, 1980 AD, and on Monday corresponding to January 27, 1986 AD, the Central Bank of Kuwait issued a decision to put the “twenty dinar” banknote into circulation, starting from Sunday, corresponding to February 9, 1986.
The banknotes of the fourth issue were put into circulation immediately after liberation on Sunday, March 24, 1991, with new clear colors different from the banknotes of the third issue, with the aim of speeding up the process of replacing the third issue and managing the wheel of the economy.
The fifth issue of Kuwaiti banknotes was introduced on April 3, 1994, featuring advanced technology and security features. However, these banknotes ceased to be legal tender on October 1, 2015. Holders of the fifth issue banknotes have a ten-year period from the withdrawal date to exchange them at the Central Bank of Kuwait.
The sixth edition of the Kuwaiti Dinar was introduced on June 29, 2014, featuring a unified design across all denominations. It showcases important national symbols and economic achievements, utilizing vibrant colors, security threads, and advanced security features. The design also considers individuals with visual impairments, ensuring accessibility. High-quality materials enhance the durability of the banknotes.
