Any Seasoned Kuwaiti Dinar Investors Out There?

[chica]

While we are waiting for some of the rumors to be fulfilled or become a little part of IIF history, I would like to hear from anyone that participated as an investor in the Kuwaiti Dinar around 1991.

I would especially love to hear any personal experiences or second-hand information about the Kuwaiti Dinar as an investment. For example, how long did it take to go from 0.1 USD to 3.0 USD? Did it seem as speculative as the NID does today, or were there indications that it would return to it's pre-war value in a relatively short time frame? Where did you exchange stateside, and do some of you still hold Kuwaiti Dinar funds?

I am sure some of you must at least know someone that made a handsome profit from the currency appreciation ride that followed Dessert Storm.

[BRYAN]

I was attending a Party over the weekend and I spoke to a Retired Army Personal that was in Desert Storm .. He had purchased 1 months pay worth of Kuwait Dinar..@ .25 to 1 USD , after it started to rise... and sent it home.

He was passing 5 Kuwait dinar notes out at the party to his friends he didn't see for a long time ..

I would say he was doing Ok ..


But I'm sure he wished he had purchased more ...

[dougmyers]

While we are waiting for some of the rumors to be fulfilled or become a little part of IIF history, I would like to hear from anyone that participated as an investor in the Kuwaiti Dinar around 1991.

I would especially love to hear any personal experiences or second-hand information about the Kuwaiti Dinar as an investment. For example, how long did it take to go from 0.1 USD to 3.0 USD? Did it seem as speculative as the NID does today, or were there indications that it would return to it's pre-war value in a relatively short time frame? Where did you exchange stateside, and do some of you still hold Kuwaiti Dinar funds?

I am sure some of you must at least know someone that made a handsome profit from the currency appreciation ride that followed Dessert Storm.


I have searched on the internet several times for Kuwait Dinar history from 1992 to present, but with no luck.
I did not get in on the KQD at the time but wished I had, hind sight 20/20 thing I guess. I heard about some some people that made a lot of money off of the KQD but have never net any.
I would think from the time Iraq was removed until the time the last oil well fire was put out was a slow 8 or 9 months for the KQD, but after the last fires I bet the KQD took off fast. You have to remember that Kuwait still for the most part was intact, most of the towns did not have too much damage.
A guess on my part would be about 2 years for the KQD to recover at or close to what it is now, from the time the fires were out.
Wish I had more info for you, but I dont.

Good luck on finding things out and if you do please post it to this thread.

[gacjr]

The Kuwaiti Dinar (ISO 4217 (http://en.wikipedia.org/wiki/ISO_4217) code KWD) is Kuwait (http://en.wikipedia.org/wiki/Kuwait)'s official currency. The dinar is sub-divided into 1000 units, one Kuwaiti Dinar being equal to 1000 Kuwaiti Fils, unlike for example the Euro (http://en.wikipedia.org/wiki/Euro), the Pound Sterling (http://en.wikipedia.org/wiki/Pound_Sterling) and the United States dollar (http://en.wikipedia.org/wiki/United_States_dollar), all of which have 100 sub-divisions. It was established in 1960 (http://en.wikipedia.org/wiki/1960) to replace the Indian rupee (http://en.wikipedia.org/wiki/Rupee). As of July 15 (http://en.wikipedia.org/wiki/July_15), 2005 (http://en.wikipedia.org/wiki/2005) the Kuwaiti dinar was worth 2.84334 Euros (http://en.wikipedia.org/wiki/Euro) and 3.42407 USD (http://en.wikipedia.org/wiki/United_States_dollar) making it the world's highest valued currency unit (http://en.wikipedia.org/wiki/Highest_valued_currency_unit).

The following banknotes (http://en.wikipedia.org/wiki/Banknote) are produced:

Quarter of a Dinar (250 Fils)
Half a Dinar (500 Fils)
1 Dinar (1000 Fils)
5 Dinar
10 Dinar
20 Dinar
There are also the following coins (http://en.wikipedia.org/wiki/Coin):

1 Fils (very rare)
5 Fils
10 Fils
20 Fils
50 Fils
100 Fils
The 1 Fils coin is so rare that it is used sometimes for bragging.

To date five series of the Kuwaiti Dinar have been minted:

The first series was issued following the pronouncement of the Kuwaiti Currency Law in 1960 (http://en.wikipedia.org/wiki/1960) which established the Kuwaiti Currency Board (http://en.wikipedia.org/w/index.php?title=Kuwaiti_Currency_Board&action=edit) and which declared that the Indian rupee, which had been used until this time, was no longer legal currency. This series was in circulation from 1 April (http://en.wikipedia.org/wiki/April_1) 1961 (http://en.wikipedia.org/wiki/1961) to 1 February (http://en.wikipedia.org/wiki/February_1) 1982 (http://en.wikipedia.org/wiki/1982).
After the creation of the Central Bank of Kuwait (http://en.wikipedia.org/w/index.php?title=Central_Bank_of_Kuwait&action=edit) as a replacement to the Kuwaiti Currency Board, new 1/4, 1/2 and 10 Dinar notes were issued from 17 November (http://en.wikipedia.org/wiki/November_17) 1970 (http://en.wikipedia.org/wiki/1970), followed by the new 1 and 5 Dinar notes of the second series on 20 April (http://en.wikipedia.org/wiki/April_20) 1971 (http://en.wikipedia.org/wiki/1971). This second series was likewise withdrawn on 1 February (http://en.wikipedia.org/wiki/February_1) 1982 (http://en.wikipedia.org/wiki/1982).
The third series was issued on 20 February (http://en.wikipedia.org/wiki/February_20) 1980 (http://en.wikipedia.org/wiki/1980) after the accession to the throne of Emir Jaber al-Ahmad al-Jaber al-Sabah (http://en.wikipedia.org/wiki/Jaber_al-Ahmad_al-Jaber_al-Sabah), at that time in denominations of 1/4, 1/2, 1, 5 and 10 Dinar. The new 20 Dinar banknote was introduced on 9 February (http://en.wikipedia.org/wiki/February_9) 1986 (http://en.wikipedia.org/wiki/1986). As a result of the state of emergency after Iraq (http://en.wikipedia.org/wiki/Iraq)'s invasion of Kuwait, this series was ruled invalid with effect from 30 September (http://en.wikipedia.org/wiki/September_30) 1991 (http://en.wikipedia.org/wiki/1991).
After the liberation, the fourth series was issued on 24 March (http://en.wikipedia.org/wiki/March_24) 1991 (http://en.wikipedia.org/wiki/1991) with the aims of replacing the previous withdrawn series as quickly as possible and guaranteeing the country's swift economic recovery. This fourth series was legal tender until 16 February (http://en.wikipedia.org/wiki/February_16) 1995 (http://en.wikipedia.org/wiki/1995).
The fifth series of Kuwaiti banknotes has been in use since 3 April (http://en.wikipedia.org/wiki/April_3) 1994 (http://en.wikipedia.org/wiki/1994) and include high-tech security measures which in the meantime had become standard for banknotes.
[edit (http://en.wikipedia.org/w/index.php?title=Kuwaiti_dinar&action=edit&section=1)]


References

This article draws heavily on the corresponding article (http://de.wikipedia.org/wiki/Kuwait-Dinar) in the German Wikipedia, retrieved March 2, 2005.
[edit (http://en.wikipedia.org/w/index.php?title=Kuwaiti_dinar&action=edit&section=2)]


See also

Gulf_Rupee (http://en.wikipedia.org/wiki/Gulf_Rupee) - for information on the use of the Indian Rupee (http://en.wikipedia.org/wiki/Indian_Rupee), then the Gulf Rupee outside India (http://en.wikipedia.org/wiki/India).
[edit (http://en.wikipedia.org/w/index.php?title=Kuwaiti_dinar&action=edit&section=3)]


External links

Central Bank of Kuwait (http://www.cbk.gov.kw/)
Images of banknotes (http://www.cbk.gov.kw/WWW/gallery_issues.html)

[LauraD]

The person who got me interested in the Iraqi Dinar made millions off of the Kuwait Dinar. Although he is heavily invested in the Iraqi Dinar (over 300 million), he remembers the outlook on the KD as much better. Unlike Iraq, Kuwait did not have to completely rebuild their infrastructure after the war. He felt it was a sure thing, but at the time all of his college buddies thought he was crazy. He is definately a believer in the Iraqi Dinar, but does not expect to see returns as quickly as with the KD.

[Denarius]

While we are waiting for some of the rumors to be fulfilled or become a little part of IIF history, I would like to hear from anyone that participated as an investor in the Kuwaiti Dinar around 1991.

I would especially love to hear any personal experiences or second-hand information about the Kuwaiti Dinar as an investment. For example, how long did it take to go from 0.1 USD to 3.0 USD? Did it seem as speculative as the NID does today, or were there indications that it would return to it's pre-war value in a relatively short time frame? Where did you exchange stateside, and do some of you still hold Kuwaiti Dinar funds?

I am sure some of you must at least know someone that made a handsome profit from the currency appreciation ride that followed Dessert Storm.

http://www.investorsiraq.com/showthread.php?p=40064#post40064

[MotorDown]

I wasn't there, but this is what I heard from the guy that got me into dinars.

His son's work associate was in Desert Storm he invested very small into the Kuwaiti Dinar. It took 6 yrs to return to value before Iraqi invasion.

When this war started he went into it (Iraqi Dinar) full throttle.

For whatever it's worth!

[ZIM]

I belive Colin Powell made millions on the Kuwaiti Dinar back after gulf war I

[BlueLake]

The person who got me interested in the Iraqi Dinar made millions off of the Kuwait Dinar. Although he is heavily invested in the Iraqi Dinar (over 300 million), he remembers the outlook on the KD as much better. Unlike Iraq, Kuwait did not have to completely rebuild their infrastructure after the war. He felt it was a sure thing, but at the time all of his college buddies thought he was crazy. He is definately a believer in the Iraqi Dinar, but does not expect to see returns as quickly as with the KD.

How long did it take for the Kuwait money to appreciate? Just curious..

[ramis]

I can't recall how long the KD took to return to its pre-invasion level, but I do remember that it plunged to as low as one percent of its value. It remained there for sometime, then after the liberation it didn't bounce back to previous level in one go, but kept on increasing on a daily basis.

Surprisingly, it was changing hands right under the nose of the bankers, but I don't know any of them personally who was able to foresee and grasp that opportunity at that time. I met one bank manager later, who narrated the story to me and how he regrets now for missing that life-time-opportunity. :D