Kuwaiti dinar (KWD)

The Kuwaiti dinar (ISO code: KWD) is the official currency of the State of Kuwait. Introduced in 1961 to replace the Gulf rupee, it is subdivided into 1,000 fils. Issued by the Central Bank of Kuwait, the dinar is historically recognised as the highest-valued currency unit per nominal value in the world. Its exchange rate was previously pegged to the US dollar before transitioning back to an undisclosed currency basket in 2007.