THE DINAR

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The dinar (Arabic: دينار, ISO 4217 code KWD) is the currency of Kuwait. It is sub-divided into 1000 fils.

History

The dinar was introduced in 1961 to replace the Gulf rupee. It was initially equivalent to one pound sterling. As the rupee was fixed at 1 shilling 6 pence, this resulted in a conversion rate of 13 rupees to the dinar.

When Iraq invaded Kuwait in 1990, the Iraqi dinar replaced the Kuwaiti dinar as the currency and large quantities of banknotes were stolen by the invading forces. After liberation, the Kuwaiti dinar was restored as the counrty's currency and a new banknote series was introduced, allowing the previous notes, including those stolen, to be demonetized.

Coins

The following coins were introduced in 1961:

• 1 fils (now very rare)

• 5 fils

• 10 fils

• 20 fils

• 50 fils

• 100 fils

Banknotes

To date five series of the Kuwaiti dinar banknote have been printed. The first series was issued following the pronouncement of the Kuwaiti Currency Law in 1960 which established the Kuwaiti Currency Board. This series was in circulation from 1 April 1961 to 1 February 1982 and consisted of denominations of ¼, ½, 1, 5 and 10 dinars.

After the creation of the Central Bank of Kuwait as a replacement to the Kuwaiti Currency Board, new ¼, ½ and 10 dinar notes were issued from 17 November 1970, followed by the new 1 and 5 dinar notes of the second series on 20 April 1971. This second series was likewise withdrawn on 1 February 1982.

The third series was issued on 20 February 1980 after the accession to the throne of Emir Jaber al-Ahmad al-Jaber al-Sabah, at that time in denominations of ¼, ½, 1, 5 and 10 dinar. A 20 dinar banknote was introduced on 9 February 1986. As a result of the state of emergency after Iraq's invasion of Kuwait, this series was ruled invalid with effect from 30 September 1991. Significant quatities of these notes were stolen by Iraqi forces and some have appeared on the international numismatic market. The "Standard Catalog of World Papaer Money" (A. Pick, Krause Publications) lists notes with the following serial number prefix denominators as being among those stolen:

After the liberation, a fourth series was issued on 24 March 1991 with the aims of replacing the previous withdrawn series as quickly as possible and guaranteeing the country's swift economic recovery.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 1995. Denominations were ¼, ½, 1, 5, 10 and 20 dinar.

The fifth series of Kuwaiti banknotes has been in use since 3 April 1994 and include high-tech security measures which have now become standard for banknotes. Denominations were as in the fourth series.

Fixed exchange rate

From March 18, 1975 to January 4, 2003, dinar was pegged to a weighted currency basket. From January 5, 2003. The pegged was switched to 1 U.S. dollar = 0.29963 dinar with margins of ±3.5%.. The central rate translates to approximately 1 dinar = 3.33745 dollars. It is the world's highest valued currency unit.

Current KWD exchange rates

International Accumulation of Foreign Reserve currencies

LINKS and REFERENCE

• Exchange Rates, Central Bank of Kuwait

MONEY FINDER

SOLAR COLA and SOLAR ENERGY drinks as a BUSINESS INVESTMENT OPPORTUNITY?

The soft drinks market is a tough place to do business, unless you have something different to offer and the marketing muscle to match. 

For nearly 100 years Coca Cola and Pepsi Cola have dominated the marketplace with similar products vying for customers.  Each company spends around $600-800 million dollars a year to maintain its market position. The advertising centers around sport and music, with a scattering of irregular television campaigns. Each company launches (or attempts to launch) new brands every year.  So far, they have not proved as successful as their regular cola brands.

Red Bull, although in a different drinks category, spends not quite as much on advertising, but has managed to acquire instant status and volume sales from sponsoring formula one, the Darpa Desert Challenge, and now the New Jersey MetroStars football team.

Solar Cola, apart from it's contemporary name, is a healthier cola based drink.  Just as refreshing, it contains a unique blend of added ingredients as an aid to good health and energy levels.  The company contributes to and sponsors alternative projects, to include these websites, featuring movies, music and several thousand pages of news and general information, which generates in excess of 15 million hits a month already.  Recent acquisitions include the rights to the Solar Navigator World Electric Challenge.  The company may also sponsor a London to Brighton Solar Car Run in 2009 (dependent on the number of university entries received) and will be in evidence at the Darwin to Adelaide solar car race and other similar events in the USA. 

It is thought that this marketing strategy will equal several hundred thousand dollars of conventional Ad Agency spending.  As an example of the kind of media coverage such nautical expeditions generate, you have only to look at the newspaper coverage when Ellen Macarthur completed her world circumnavigation.  The same holds true for Sir Francis Chichester and Sir Robin Knox-Johnston.

The design of the Solar Cola can and bottles are copyright protected, with trademarks granted in the UK, and Australia and applications pending in the USA and Europe in Class 32. 

Solar Cola PLC is shortly to be activated for online investment to raise capital via equity sharing.  The company is forecast to produce excellent results for investors, with sustained growth to be followed by an eventual flotation on the Stock Markets of the world in the next seven years.  At this point investors may reap substantial gains - in line with international Licensing expectations.

Solar Cola Ltd is managing the funding requirement for the trading company.  They are looking for medium term or seed investment between £4-5 million to kick start phase two of the venture: which is to volume produce the product for supply to supermarkets and other retail outlets in the United Kingdom.

If you are a Business Angel, or Equity House, looking for a business with the potential for rapid growth, please contact SOLAR COLA LTD for details.  Ask for the funding project manager: Nelson Kruschandl

+ 44 (0) 1323 831727

+44 (0) 7905 147709

LICENSING

If you are looking for a new drink to add to your existing product range, we are looking for distributors in: Australia, Canada, China, Europe, Japan, India,  Russia, South Africa, South America, and the USA. We are currently in negotiations regarding the Middle East and North African territories, and please see our contacts  in Jordan, Iraq and Saudi Arabia for more information.

If you are looking for a new business to get into, we can offer a complete support package, from trademark licensing to flavourings delivered to your door. We will also source a competitive supplier of sugar for you - wherever you are in the world. 

This material and any views expressed herein are provided for information purposes only and should not be construed in any way as an endorsement or inducement to invest in any specific program. Before investing in any program, you must obtain, read and examine thoroughly its disclosure document or offering memorandum.

Solar Cola - the healthier alternative

This website is Copyright © 1999 & 2007  NJK.   The bird logo and name Solar Navigator are trademarks. All rights reserved.  All other trademarks are hereby acknowledged.       Max Energy Limited is an environmental educational charity.

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