People are always curious about the most expensive currency in the World. Kuwaiti Dinar is the most expensive currency in the World, with a price of 766.83Rs against 1 PKR. The same Kuwaiti Dinar is equal to 3.24 USD. The reason behind it is the currency being fixed against many worldwide currencies. Following is one of the most informative video I found on Youtube about kuwaiti Dinar.
In comparison to the US dollar, British pound, and euro, the Kuwaiti Dinar (KWD) is stronger. The Kuwaiti dinar, which was first created in 1961, is currently worth 3.24 dollars. Due to its constant value and independence from the forces of supply and demand, it is one of the most valued currencies in Asia and the entire world.
Why Is the KWD So Valuable?
The high level of currency demand is the reason why the KWD is so valuable. Although Kuwait’s economy depends heavily on oil, it is also stable and makes good use of its oil revenues, in contrast to many other oil-rich nations. Additionally, it exports a lot of oil. Kuwait being an oil-rich country, can easily maintain the Foreign Reserves by selling a certain amount of oil and keeping the exchange in the reserves. This helps them to maintain the peg easily. Hence, the high price of the currency.
KWD (Kuwaiti Dinar)
- As of 2021, the KWD, the currency of the State of Kuwait, is the most valued one in existence.
- The currency has a narrow range of fluctuations and is linked to an unnamed currency basket.
- Kuwait is one of the richest countries in the world due to its economy’s reliance on oil.
- There have been six iterations of the KWD since its formal debut in 1961.
- One Kuwaiti dinar is currently worth about $3.3 as of December 2021.
KWD (Kuwaiti Dinar) Exchange Rate
The Kuwaiti dinar changed value between December 2016 and December 2021, trading between $3.17 and $3.33. Accordingly, one Kuwaiti dinar was worth between $3.17 and $3.33 in U.S. currency. The higher rate, 3.33, indicates that either the value of the Kuwaiti dinar increased or that of the U.S. dollar decreased in relation to the dinar. If the rate decreases, either the Kuwaiti dinar is depreciating or the value of the US dollar is rising in relation to it.
The KWD is not often utilized as a speculative trading tool because to its low volatility and little global trade. If it were, a trader would try to purchase at the bottom and try to sell near the top of its historical range. The pricing range over five years, $3.17 to $3.33, represents only a 5% return after fees and commissions.
This is why the majority of traders and investors avoid trading this currency unless they believe a significant fundamental change that could significantly affect the currency’s value is about to occur.
