AED to KWD

AED - United Arab Emirates Dirham (د.إ.‏)
KWD - Kuwaiti Dinar (د.ك.‏)
1 AED1 KWD

Currency conversion rates from AED to KWD

AEDKWD
1 AED1 KWD
5 AED5 KWD
10 AED10 KWD
20 AED20 KWD
50 AED50 KWD
100 AED100 KWD
250 AED250 KWD
500 AED500 KWD
1000 AED1000 KWD
2000 AED2000 KWD
5000 AED5000 KWD
10000 AED10000 KWD
KWDAED
1 KWD1 AED
5 KWD5 AED
10 KWD10 AED
20 KWD20 AED
50 KWD50 AED
100 KWD100 AED
250 KWD250 AED
500 KWD500 AED
1000 KWD1000 AED
2000 KWD2000 AED
5000 KWD5000 AED
10000 KWD10000 AED

AED - United Arab Emirates Dirham (د.إ)

The United Arab Emirates dirham is the currency of the United Arab Emirates. The dirham is abbreviated by the currency code AED, and its symbol is د.إ. Unofficial abbreviations include ‘Dhs’ and ‘DH’. The most popular AED exchange is with Indian rupees (INR to AED). The dirham is a fiat currency, and its conversion factor has 6 significant digits.

The Dirham (AED) is the currency of the United Arab Emirates. 1 Dirham = 100 fils. Exchange can be done at a bank, but is less costly at an exchange office. The United Arab Emirates Dirham was pegged to the IMF’s drawing rights in 1978. In 1997 the Dirham was pegged to the US Dollar at 1 USD = 3.6725 dirham.

The United Arab Emirates Dirham is the currency in United Arab Emirates (AE, ARE, UAE). The symbol for AED can be written Dh, and Dhs. The United Arab Emirates Dirham is divided into 100 fils. The exchange rate for the United Arab Emirates Dirham was last updated on Today from The International Monetary Fund. The AED conversion factor has 6 significant digits.

Economy

  • The United Arab Emirates is ranked second in the Corporation Council for the Arab States of the Gulf (CCASG).
  • Natural gas and petroleum exports play an important role in the economy.
  • The service sector is also an important source of income.
  • Construction forms a huge part of the economy; there is currently an average of $350 billion in construction projects.
  • The United Arab Emirates is part of the World Trade Organization.
  • Imports are machinery, manufactured goods, and transport equipment.
  • In 2009, 85% of exports were natural resources.
  • The United Arab Emirates has the fastest-growing economy in the world.

History

  • The original currency in the United Arab Emirates was the Bahraini Dinar.
  • Before 1966 the United Arab Emirates used the Gulf Rupee.
  • The United Arab Emirates dirham started circulating in December 1971. The dirham replaced the Dubai Riyal as well as the Qatar Riyal at par.
  • From 1973 to 1982 the United Arab Emirates issued the Dirham.
  • In 1976 the United Arab Emirates minted commemorative coins.
  • In the late 1980s a fixed rate was established between the Dirham and the USD.
  • 200-dirham denominations were produced only in 1989 and are scarce; however, the 200-dirham was re-introduced in May 2008 in a different color from the original.
  • In 1997 the Dirham was pegged to the US Dollar.

More information about AED - United Arab Emirates Dirham (د.إ)


KWD - Kuwaiti Dinar (ك)

Kuwaiti Dinar

The Kuwaiti Dinar is the official currency of Kuwait, a nation that lies on the north-western shore of the Persian Gulf. It is bordered by Saudi Arabia to the south and Iraq to the north. The emirate covers an area of 17,820 square kilometers (6,880 sq mi) and has a population of about 3.6 million.

The Kuwaiti Dinar is the currency in Kuwait (KW, KWT). The Kuwaiti Dinar is also known as the New Kuwaiti Dinar. The symbol for KWD can be written KD. The Kuwaiti Dinar is divided into 1000 fils. The exchange rate for the Kuwaiti Dinar was last updated on Today from The International Monetary Fund. The KWD conversion factor has 6 significant digits.

Economy

  • Kuwait has a GDP (PPP) of 167.9 billion USD and per capita income of 81,800 USD, which makes it the fifth richest country in the world per capita.
  • Kuwait has proven crude oil reserves of 104 million oil barrels (15 km³), estimated to be 10% of the world’s reserves. According to the Constitution of Kuwait, all natural resources in the country and the associated revenues are government property.
  • As Kuwait is a tax-free country, the oil industry represents 80% of government revenue. Petroleum and petrochemicals account for nearly half of the GDP and 95% of all export earnings.
  • Since 2003, increasing oil prices have led to an increase in the economy of Kuwait.
  • In 2007, estimated exports stood at 59.97 billion USD and imports were about 17.74 billion USD.
  • The main exports are petroleum, petrochemicals, fertilizers, and financial services.
  • Kuwait imports a wide range of products, from food and textiles to machinery.
  • Kuwait's most important trading partners are Japan, the USA, India, South Korea, Singapore, China, the European Union, and Saudi Arabia.
  • Japan is the largest consumer of Kuwaiti oil, followed by India, Singapore, and South Korea.

History

  • The Kuwaiti Dinar was introduced in 1961 to replace the Gulf Rupee. At first it was equivalent to British Pound Sterling. As the Rupee was fixed at 1 shilling 6 pence, this resulted in a conversion rate of 13⅓ Rupees to the Dinar.
  • When Iraq invaded Kuwait in 1990, the Iraqi Dinar replaced the Kuwaiti Dinar. Coins and a large quantity of banknotes were stolen by the invading forces. After liberation, the Kuwaiti Dinar was restored as the country's currency and a new banknote series was introduced.
  • To date five series of Kuwaiti Dinar banknotes have been printed. The first series was issued following the pronouncement of the Kuwaiti Currency Law in 1960, which established the Kuwaiti Currency Board. This series was in circulation from April 1, 1961 to February 1, 1982 and consisted of denominations of ¼, ½, 1, 5, and 10 dinars.
  • After the Central Bank of Kuwait replaced the Kuwait Currency Board, new ¼, ½, and 10 dinar notes were issued in November, 1970, followed by new 1 and 5 dinar notes in April, 1971. This second series was withdrawn on February 1, 1982.

More information about KWD - Kuwaiti Dinar (ك)