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The Truth About The “Kuwait Dinar Revaluation – RV”

Kuwait Dinar Revaluation

Kuwait Dinar Revaluation


Many of the Iraq Dinar Pumpers will fill your head with miss-truths, after all this is part of them selling you more dinar. It is often said that if the Kuwait Dinar Revaluation happened, why can’t Iraq?

But the truth is – did Kuwait really RV their currency? Let’s take a look

To clarify for anyone who wants the real truth about the Kuwaiti Dinar:-

The Kuwait Dinar Revaluation Timeline:-

April 1st 1961 – Kuwait introduced Series 1 banknotes to replace the “Gulf Rupee” (formerly pegged to £1 British Pound)

April 20th 1971 – Kuwait introduced Series 2 banknotes

Feb 20th 1980 – Kuwait introduced Series 3 banknotes

May 31st 1981 – Series 1 & 2 banknotes demonetized

Aug 2nd 1990 – Iraq invaded Kuwait and tried to replace Series 3 KWD with IQD

Feb 1991 – Kuwait liberated by end of Feb 1991

March 24th 1991 – Kuwait quickly introduced Series 4 banknotes with approx 6 month changeover period, due to significant quantities of notes stolen by Iraq

Sept 30th 1991 – Series 3 banknotes demonetized

April 3rd 1994 – Series 5 banknotes introduced (due to better security features) with approx 10 month changeover period. Still in use today.

Feb 16th 1995 – Series 4 banknotes demonetized

All that occurred in Kuwait was a temporary spike in the black market value of the KWD *inside Kuwait only* as a short-term panicked response to Iraq trying to replace the currency. The international value did not change vs the USD, and there was zero “RV” at any point. A good analogy of what happened would be like saying “Due to a water shortage during hurricane Katrina, some people in New Orleans were panic-buying bottled water for $10-20 instead of $1, therefore Bush must have revalued the Dollar 900-1,900% and everyone’s $ outside the USA must have been worth 10x more!” It’s the same total gibberish claim.

The annual KWD vs USD values are in plain sight on the Kuwait Central Bank’s website for all to see (raw data for graph Sam printed in article):-

1986 – 290.53
1987 – 278.86
1988 – 278.94
1989 – 293.74
1990 – 291.24 <- Iraq invaded Kuwait. S3 KWD “replaced” with IQD
1991 – 289.19 <- Kuwait liberated. S3 KWD replaced with S4 KWD
1992 – 293.30
1993 – 301.32
1994 – 297.62 <- S5 KWD introduced
1995 – 298.46 <- S4 KWD demonetized
1996 – 299.42
1997 – 303.36
1998 – 304.79
1999 – 304.38
2000 – 306.79
2001 – 306.54
2002 – 303.97
2003 – 298.07
2004 – 294.07
2005 – 292.00
2006 – 290.20
2007 – 284.28
2008 – 268.54
2009 – 287.72
2010 – 286.64
2011 – 276.01
2012 – 279.91

At no-point did any “Kuwaiti RV” or massive change in value / correction take place. The Kuwait Dinar Revaluation did not fluctuate internationally in value by more than about 4% from Series 3 notes in pre-war 1980’s to Series 5 notes in 1995. In fact, today’s 2013 Kuwaiti Dinar vs USD is barely 2.1% higher than 1986’s value! The “Kuwaiti RV” and “people made millions off the KWD” are total baseless fantasies fabricated by mentally confused / chronically dishonest & financially illiterate pumpers who’ve been lying through their teeth about this nonsense for years.

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