About the AUD/KWD rate
The AUD/KWD rate is how many KWD one Australian dollar buys. It moves constantly with interest-rate expectations, commodity prices and global risk sentiment - see what moves the rate. Tradergy shows the mid-market reference rate and does not forecast where it’s heading. For the 52-week highs and lows and a daily table, see the AUD/KWD rate history.
The other directions of this rate: the reverse rate, KWD → AUD, is on the receiving Kuwaiti dinar view, and sending Australian dollars to Kuwait is covered on the AUD → KWD transfer page. Every AUD pair sits on the convert hub, and to work in more than one currency at once there is the currency converter.
The word the Central Bank of Kuwait uses is "undisclosed"
Kuwait is the Gulf state that did not stay on the dollar. The Central Bank of Kuwait records that with effect from 20 May 2007, under Decree No. 147/2007, the dinar's exchange rate was repegged to a weighted basket of international currencies of Kuwait's major trade and financial partner countries - and the word it uses for that basket is "undisclosed". It has named no currency in it and published no weight, in the announcement at the time or since. The stated purpose is protecting the purchasing power of the currency and containing inflationary pressures, and the Bank framed the change as standing until the requirements of a Gulf monetary union are met.
What the basket replaced is on the same page, and it makes the move a return: from 5 January 2003, under an earlier decree, the dinar had been held against the US dollar alone at 299.63 fils, with margins of three and a half per cent either side.
The quoting convention follows from the subdivision. The Bank records the dinar as legal tender since 1961, divided into one thousand fils, which is why dinar rates are ordinarily written to three decimal places where most currencies use two. Issuance is the state's exclusive privilege, exercised solely by the Central Bank under Law 32 of 1968.
The sharpest event in the currency's history was not a devaluation but a cancellation. The Bank's third banknote issue, in circulation from 1980, was withdrawn with effect from 24 March 1991, ceased to be legal tender forty-five days later, and could be exchanged at the Central Bank only until 30 September 1991. A fourth issue was put into circulation on the same day the third was withdrawn.
Sources: Central Bank of Kuwait, exchange rate policy · Central Bank of Kuwait, press release on the repegging of the dinar · Central Bank of Kuwait, banknotes introduction · Central Bank of Kuwait, the third banknote issue