We have long been accustomed to the fact that all operations in foreign currencies are almost automatically converted into American dollars. Meanwhile, the dollar is by no means the most stable currency and not the most expensive in the world market. In relation to the Russian ruble, and indeed in the world market, the leading position is held by the Kuwaiti dinar.
History of Kuwait Country and Currency
Almost the entire state consists only of the city of the same name and a piece of desert adjacent to it. But the local bill (dinar) is one of the leading places in the world market. Dinars are happy to accept banks not only in the Middle East, but also around the world. Dinar is resistant to economic storms and is considered a freely convertible currency. But this was far from always. At the very beginning of the 19th century, Great Britain strengthened its influence throughout the Middle East. And at the very end of the 19th century, Kuwait falls under the protectorate of Britain.
And only in the early 60s of the twentieth century, Kuwait gained independence. For quite some time, Indian rupee was used as the currency in the entire Middle East. Closer to the time of independence, at the time of transition, a special
Persian Gulf rupee was issued
. Initially, her course was equated to the
Indian rupee. After Kuwait became independent, in 1961, the dinar appeared as a currency. Initially, its course was equal to the
British pound . In just over 10 years, the Kuwaiti dinar to the dollar was exchanged in a ratio of 1 to 3. Even now, this rate has changed little. At the beginning of the last decade of the twentieth century, Kuwait was occupied by Iraq. Invaders actively exported all cash from the country. In this regard, after the completion of the military operation, the Kuwaiti government was forced to issue new banknotes. At the same time, back in the early 90s of the last century, the Kuwaiti dinar had such high degrees of protection that 20 world currencies cannot boast after 20 years.
What does the world's most expensive currency look like?
Surprisingly for many denominations in Kuwaiti bills. Thus, in Kuwait, ½ and ¼ dinar notes are circulated. It should also be said that the dinar itself consists of thousands of fils. Also in the country are denominations in denominations of 20, 10, 5 and 1 dinar.
Kuwaiti dinar (photo of banknotes presented in the article) looks quite unusual for European banknotes. So on a banknote of 5 dinars on the obverse
(front side) of the banknote depicts ancient millstones and the Mosque Tower. And on the back is a plant. The bill itself is pink in color, on all banknotes of Kuwait the coat of arms of the state is depicted. Also, coins of various denominations are circulating in the country. Please note that the coins were not replaced during the monetary reform (the year of issue is before 1991). Import, as well as export, of currency to the country is unlimited.
Which country - such a currency
As mentioned earlier, dinar is one of the most expensive banknotes in the world. For example: in early February, the Kuwaiti dinar to the ruble was exchanged at the rate of 223 rubles per dinar. The ratio to the dollar remains virtually constant - one in three. Of course, with this level of currency, Kuwaiti citizens are perhaps the richest in the Middle East. The country ranks 4th in the world in the number of millionaires per thousand indigenous people. Also in the recent past, Kuwait was recognized by the UN as the best country to live in.
How not to fall into the trap?
If you have to go to the Middle East by fate, you should be wary of exchanging the currency for the Kuwaiti dinar. As already mentioned, at the end of the last century, during the invasion of the country, a huge amount of cash was exported. Of course, in Kuwait itself one should not be afraid of substitution. In all exchange offices there are posters depicting new and old bills. But if you plan to do it somewhere in a remote village, be extremely careful. Although there is a fairly simple option to distinguish the "real" dinar. It should be printed no earlier than 1992.
And if suddenly ...
When planning a trip to Kuwait, you need to know that they practically do not accept the currencies of other countries. Of course, there is a possibility that somewhere in the market you will get money based on the rate. But it’s better to have a Kuwaiti dinar with you. Exchangers are in almost all stores and banks. However, even in them it is worthwhile to carefully study the terms of the exchange, since many banks charge quite large interest rates even for small amounts. Exchange offices work according to a rather peculiar schedule. On Friday they do not work, on Thursday - only until noon. On the remaining days, from eight in the morning until noon, and then from four to eight in the afternoon. By the way, credit card holders can be calm, they are accepted for payment almost everywhere. When leaving the country, do not rush to change the Kuwaiti dinar. You still have time to return to the ruble, exchanging it will not be difficult in Moscow either. But dinars will have to pay the airport tax. Everyone who leaves Kuwait by plane is required to pay 2 dinars.