KUWAITI DIRHAM Meaning and
Definition
-
The Kuwaiti Dirham refers to the unit of currency in Kuwait. It is the official currency of the State of Kuwait and is denoted by the currency code KWD. The Kuwaiti Dirham is often abbreviated as KD.
As of the time of writing, the Kuwaiti Dirham is subdivided into 1,000 units called fils. The currency is issued by the Central Bank of Kuwait, which controls the monetary policies and regulations pertaining to the operation of the Kuwaiti Dirham.
The Kuwaiti Dirham holds a significant position in the global financial market due to Kuwait's large oil reserves and its flourishing economy. It is widely accepted in both domestic and international transactions and is used as the medium of exchange for various goods and services.
The value of the Kuwaiti Dirham fluctuates in accordance with the foreign exchange market, where its exchange rate is determined against other major currencies. Its exchange rate is typically pegged to a basket of currencies, which helps to maintain stability and control inflation within the country.
The Kuwaiti Dirham is available in various denominations, including banknotes with values of 1, 5, 10, 20, and 50 Kuwaiti Dinars, as well as coins of smaller denominations, such as 5, 10, 20, 50, and 100 fils.
Overall, the Kuwaiti Dirham serves as the primary currency in Kuwait, allowing individuals and businesses to engage in financial transactions within the country and abroad.
Common Misspellings for KUWAITI DIRHAM
- juwaiti dirham
- muwaiti dirham
- luwaiti dirham
- ouwaiti dirham
- iuwaiti dirham
- kywaiti dirham
- khwaiti dirham
- kjwaiti dirham
- kiwaiti dirham
- k8waiti dirham
- k7waiti dirham
- kuqaiti dirham
- kuaaiti dirham
- kusaiti dirham
- kueaiti dirham
- ku3aiti dirham
- ku2aiti dirham
- kuwziti dirham
- kuwsiti dirham
Etymology of KUWAITI DIRHAM
The etymology of the term "Kuwaiti Dirham" can be understood by examining the origins of its constituent parts:
1. Kuwaiti: The word "Kuwaiti" refers to something or someone originating from or associated with Kuwait. Kuwait is an Arab country located in the northeastern part of the Arabian Peninsula. Its name is derived from the Arabic word "kut", meaning "fortress", as the region was known for its fortified settlements.
2. Dirham: The term "Dirham" has its roots in ancient Aramaic and Persian languages. In ancient times, the Dirham was a silver coin widely used in different regions of the Middle East, including the Arabian Peninsula. The word "Dirham" itself is derived from the Middle Persian word "dārām", meaning "a handful".
