Convert KWD to INR

Converting Kuwaiti Dinar to Indian National Rupee may look like a complex task to perform initially as both the currencies are based on varied factors. However, applying the right kind of formula will make this painstaking task easy to perform. Don’t worry, Square Yards has got everything covered for you.

Overview of KWD(Kuwaiti Dinar)

Along with being the national currency of Kuwait, the Kuwaiti Dinar is currently the highest currency of the world. The name Dinar comes from the Roman Denarius. A nation extremely rich in oil reserves, Kuwait is surrounded by Saudi Arabia & Iraq and the currency Dinar is further divided into “fils” which happens to be a widely used coin in other Arab nations.

The KWD (Kuwaiti Dinar) is the world’s most valuable currency
The KWD was officially released in 1961 and since then, has undergone six various versions.
Kuwait’s economy hugely relies on natural gas (oil) which brings it among the wealthiest nations on the globe.
As of January 2022, the value of a KWD is equal to $3.1.

History of KWD(Kuwaiti Dinar)

It was in the year 1960 when Dinar was introduced, replacing the Gulf Rupee which was then equal to the value of the Indian Rupee. The initial value of Dinar was the same as pound sterling. Earlier, the Rupee value was valued at 1 shilling 6 pence, which in turn, led to the conversion rate of 13+1⁄3 Rupees to the Dinar.

With the invasion of Iraq in Kuwait in the year 1990, the KWD was replaced by the Iraqi Dinar as the country’s new currency. This was done because the Iraqi military stole massive quantities of banknotes. Later when Kuwait was liberated, a new series of banknotes was revived, and KWD was restored as the new currency.

Overview of INR(Indian Rupee)

The Indian Rupee is the official currency used in India. At present, the lowest denomination is the one-rupee coin and is also the lowest value coin that is used. This currency management is secured by the Reserve Bank of India (RBI). The Reserve Bank of India also takes care of the currency of India according to the rules that have been set up by the Reserve Bank of India Act, 1934. The abbreviation used for the Indian rupee is INR and Rs. The symbol on the other hand used for the Indian rupee is ₹.

History of INR(Indian Rupee)

In the ancient era, India was among the earliest nations to issue a coin, therefore the history of INR traces back to 6th Century BCE.

The rupee in its early phase used to be a silver coin. When the significant economies of the world switched to gold standards, the INR had to face drastic consequences. The damage increased when various European nations along with the USA discovered silver in huge quantities, causing a drastic fall in the value of silver. This historical event is still remembered as ‘The fall of rupee’.

KWD to INR Forecast

Date	Minimum	Maximum	Closing Rate	Frequency
October 2021	242.25	249.61	245.93	0.00%
November 2021	237.25	245.93	240.86	-2.06%
December 2021	238.04	245.28	241.66	0.33%
January 2022	241.66	251.27	247.56	2.44%
February 2022	238.96	247.56	242.59	-2.01%
March 2022	242.59	250.28	246.59	1.65%
April 2022	240.82	248.14	244.48	-0.86%
May’2022	243.99	251.41	247.70	1.32%
June 2022	245.89	253.37	249.63	0.78%
July 2022	243.05	250.43	246.74	-1.16%
August 2022	241.25	248.59	244.92	-0.74%
September 2022	244.92	252.53	248.81	1.59%

The simplest way to convert KWD to INR is by understanding their history first. It is because when one is aware of their history, the process of converting becomes even easier.

So, to start with it is important for you to go through the above-mentioned overview and history to start with the process.

Therefore, to convert KWD to INR you are required to multiply the value of KWD by 246.70.

Note: The value of conversion is taken as per rate on 24th January, 2022.

To make this knowledge better for you, we have cumulated some examples below:-

Examples to Convert KWD to INR

Example1: Convert 57 KWD to INR