KWD

DEFINITION of 'KWD'

The currency abbreviation or currency symbol for the Kuwaiti dinar (KWD), the currency of Kuwait. The dinar is made of 1000 fils, and it is often presented with the symbol (__). The dinar has the highest value of any currency in the world.

BREAKING DOWN 'KWD'

The dinar was first seen in 1961, replacing the Gulf rupee. Iraq replaced the Kuwaiti dinar with the Iraqi dinar, and large amounts of Kuwaiti currency was "requisitioned" by invading Iraqi forces. After Kuwait regained it's independence, it issued a new dinar currency that rendered the stolen currency obsolete.