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Kuwait, officially the State of Kuwa, is a country in Western Asia. Situated in the northern edge of Eastern Arabia at the tip of the Persian Gulf, it shares borders with Iraq and Saudi Arabia. The dinar was introduced in 1960 to replace the Gulf rupee, equal to the Indian rupee, and was initially equivalent to one pound sterling. Kuwait has the second-most free economy in the Middle East. It is the fourth-richest country in the world in terms of per capita income.
When Iraq invaded Kuwait in 1990, the Iraqi dinar replaced the Kuwaiti dinar as the currency and large quantities of banknotes were stolen by the invading forces. At the end of the war, there were extensive efforts to revive the economy and rebuild national infrastructure, and the Kuwaiti dinar was restored as the country's currency. The Kuwaiti dinar is currently the highest valued currency in the world and is subdivided into 1,000 fils.
Oil reserves were discovered in commercial quantities in 1938 and currently 20% of the world’s oil comes from Kuwait.
While the country’s main industry in the oil industry, there are still many things that can be seen in Kuwait in terms of tourism. It is a wonder to see the contrasting picture of the developed city of Kuwait City surrounded by desert plains, and is a city filled with great cuisine and culture, and unexpectedly, beautiful beaches.
The Kuwaiti Dinar is the official currency of Kuwait. The ISO 4127 currency code for the Kuwaiti Dinar is KWD.