06/09/2018: Announcement of new dinar notes
The Central Bank of Libya announces the release of new dinar banknotes with enhanced security features to combat counterfeiting.
28/07/2014: Recognition of rival governments
The Libyan Supreme Court recognizes two rival governments, further fragmenting the country and impacting the value of the dinar.
17/02/2011: Start of the Libyan Civil War
The Libyan Civil War begins, leading to political instability and further devaluation of the Libyan dinar.
20/05/2007: Kuwaiti Dinar Redenominated
The Kuwaiti Dinar underwent a redenomination, with the introduction of new banknotes and removal of three zeros from the currency.
20/03/2003: US Invasion of Iraq
The United States and its allies invaded Iraq, leading to a period of uncertainty and affecting the value of the Kuwaiti Dinar.
25/03/1991: Kuwait Liberated
Coalition forces led by the United States liberated Kuwait from Iraqi occupation, restoring stability to the country and its currency.
02/08/1990: Iraqi Invasion of Kuwait
Iraqi forces invaded Kuwait, leading to the Gulf War and causing a significant decline in the value of the Kuwaiti Dinar.
07/04/1986: US imposes economic sanctions
The United States imposes economic sanctions on Libya, severely impacting the value and stability of the Libyan dinar.
16/09/1980: Iraq-Iran War Begins
The Iraq-Iran War started, leading to economic instability in the region and affecting the value of the Kuwaiti Dinar.
02/03/1978: Establishment of the Central Bank of Libya
The Central Bank of Libya is established, becoming the sole authority responsible for issuing and managing the Libyan dinar.
20/10/1975: Kuwait Dinar Pegged to Special Drawing Rights (SDR)
Kuwait pegged its currency to a basket of international currencies known as Special Drawing Rights (SDR) instead of the US Dollar.
08/09/1971: Introduction of the Libyan dinar
The Libyan pound is replaced by the Libyan dinar, at a rate of 1 dinar = 1 pound.
02/01/1961: Kuwaiti Dinar Introduced
The Kuwaiti Dinar (KWD) was officially introduced as the currency of Kuwait, replacing the Gulf Rupee.
24/12/1951: Independence of Libya
Libya gains independence from Italy, introducing the Libyan pound as its currency.