How Kuwait Artificially Created the World's Most Valued Currency
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- čas přidán 3. 06. 2024
- What is the world's most valued currency? The Kuwaiti Dinar is the world's highest-valued currency and is equivalent to more than three dollars per dinar. Not only is the Kuwaiti Dinar the most valued currency but it is also one of the most consistent currencies as it has maintained this spot for several decades. This video describes how Kuwait artificially created the world's most valued currency and maintained it over the past few decades.
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thank you for explanation one love
Hello
excellent explanation
Thank you so much!
I live in kuwait as an expat but the life is luxurious over here
i live in qatar i hope to move to kuwait after the pandemic
I love qwait❤
I lived in Kuwait for one year in the early 2000s, would absolutely love to go back.
@@user-yx2wn4hx1f Why?
@@dad4378 why?
The answer is because they currency are better than Qatar.
Actually a value of a currency does represent value since the less inflation you have the highest wages you can enjoy, and Kuwait actually has a strong economy, its gdp per capita is higher than spain and its the 63rd economy in world with a population of only 4.204 million
you also have to know that kuwaiti dinar has a denomination of 1000 instead of 100 in most of the countries. so if it means 1KD to 3.50 usd, it can also be meant as .35 usd adjusted for 100 cents/dollar
nice video bro
God bless you beloved.
I don't know you in person but God knows you well God reveal a revelation to me when I was going through your profile
to observe things about your spiritual life. while I was meditating
I saw a divine breakthrough in your life and I saw evil attacks of
the enemies manipulating on seizing your favour and to come against your hand work for you to be confused and lost hope. in life As i was praying the Lord reveal to me and instruct you to sow a seed into the life of a baby suffering from leukemia in children of tomorrow orphanage home located in kebbi state in Nigeria before the end of tomorrow and let me know so I can join you in prayers deeply because he want to manifest his promises in your life and that of your family Nobody should know about the seed is between you and God, you will testify to the Glory of God after you have done it if only you believe in him and do what he says
Proverb (3:27;21:26;22:9 ,,Deu.28:1-5)
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Thanks so much
God bless you beloved.
I don't know you in person but God knows you well God reveal a revelation to me when I was going through your profile
to observe things about your spiritual life. while I was meditating
I saw a divine breakthrough in your life and I saw evil attacks of
the enemies manipulating on seizing your favour and to come against your hand work for you to be confused and lost hope. in life As i was praying the Lord reveal to me and instruct you to sow a seed into the life of a baby suffering from leukemia in children of tomorrow orphanage home located in kebbi state in Nigeria before the end of tomorrow and let me know so I can join you in prayers deeply because he want to manifest his promises in your life and that of your family Nobody should know about the seed is between you and God, you will testify to the Glory of God after you have done it if only you believe in him and do what he says
Proverb (3:27;21:26;22:9 ,,Deu.28:1-5)
Contact the MD of the orphanage foundation on WhatsApp on +2348110852793 and send your donation to them
God bless you,,
I think it was smart for Kuwait to follow a fixed system and peg their national currency. Although I personally think a floating system is much cheaper for a country to follow it works well when a country has a diverse economy but for cases like Kuwait and other Arab oil rich and dependent economies it is risky to float their currency as the value would fluctuate to reflect oil prices since their economies are heavily linked to oil. The only country that has me questioning about the fixed system is Denmark. They are part of the European Union but opted out of the Eurozone but they still peg their national currency to the Euro. They have a diverse economy compared to their Nordic neighbors who all float their national currencies including Iceland. So for me it makes no sense for Denmark to follow a fixed system and it’s actually more expensive to do so. Switzerland learned this lesson when the euro crisis happened but I thought they were smart enough in the first place to not experience that problem. I know the Swiss has a lot of foreign reserves so they can afford to peg their currency as they wish but the Swiss Franc is already considered a hard currency so they are better off at floating their currency but it took the euro crises for them to realize this mistake.
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i just now learnning about this is crazy
Fun fact: Currently 1 KWD is equal to 1,000 HUF. Think of 1 forint as if it have the same value as 1 fil.
Fun fact: Seborgan Luigino is actually the world's most valuable currency.
1 Seborgan Luigino is worth 6 USD, almost twice the value of the Kuwaiti Dinar.
But it's not recognized outside of Seborgan.
not anymore :(
Ahh a my long lasting youth question is finally Answered
Ivw been wondering about this for years now
Iam quite happy to know the Answer.
Btw Can you make a video about how israel became the 5th highest gdp in Middle east ?
You know since i think they only have half of yemen territory and probably doesnt have that huge of a Tourist industry and Oil Industry
Glad I could answer it man! Also, sure, that’ll be my next video.
What israel is like 22000km2 while yemen is 24 times the size of israel
@@LogicallyAnswered
my dear u did not answer any thing.the kuwaiti people live a luxury life because of their high currency value. their investment all over the world returns is higher than the oil they produce stupid.at the and when they travel they exchange the dinar to 3,3 dollars hhhhhhhhhhhh you r stupid.
Hello
You forgot to mention how any country can make their currency the most valuable in the world or the least valuable in the world by redenomination.
God bless you beloved.
I don't know you in person but God knows you well God reveal a revelation to me when I was going through your profile
to observe things about your spiritual life. while I was meditating
I saw a divine breakthrough in your life and I saw evil attacks of
the enemies manipulating on seizing your favour and to come against your hand work for you to be confused and lost hope. in life As i was praying the Lord reveal to me and instruct you to sow a seed into the life of a baby suffering from leukemia in children of tomorrow orphanage home located in kebbi state in Nigeria before the end of tomorrow and let me know so I can join you in prayers deeply because he want to manifest his promises in your life and that of your family Nobody should know about the seed is between you and God, you will testify to the Glory of God after you have done it if only you believe in him and do what he says
Proverb (3:27;21:26;22:9 ,,Deu.28:1-5)
Contact the MD of the orphanage foundation on WhatsApp on +2348110852793 and send your donation to them
God bless you,,
@@prophetvczitha8974 beggar
You don't understand value, and you don't understand redenomination. The value of a currency is not as simple as it's exchange rate. The true value of a countries currency is it's exchange rate multiplied by the amount of that currency that exist. A redenomination does not change change the value of a currency one bit. It may make the value of one unit of the currency worth 1000 times more, but it does that by reducing the amount of the currency by the same 1000 times.
@@62Sketch I meant the value of a single unit of the currency, you seem to not understand what I'm trying to say
I love Kuwait 🇰🇼 and it is also 5th richest country in the world 🌍
Who doesn’t love their own country also from Kuwait 🇰🇼
Han mere pas Kuwait iraq war time ki not jorden nots hey me use bechna chahta hun muje price bata ye
Also since 2010 there’s a talks and rumours about redenominate the South Korean won in new proposed money 1000 won is equal to 1 new won
Making USD will be at par when it that happen
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U got the conversion wrong. 1 kd = 3.3 usd
Currency always change every second lol
I love kwd
God bless you beloved.
I don't know you in person but God knows you well God reveal a revelation to me when I was going through your profile
to observe things about your spiritual life. while I was meditating
I saw a divine breakthrough in your life and I saw evil attacks of
the enemies manipulating on seizing your favour and to come against your hand work for you to be confused and lost hope. in life As i was praying the Lord reveal to me and instruct you to sow a seed into the life of a baby suffering from leukemia in children of tomorrow orphanage home located in kebbi state in Nigeria before the end of tomorrow and let me know so I can join you in prayers deeply because he want to manifest his promises in your life and that of your family Nobody should know about the seed is between you and God, you will testify to the Glory of God after you have done it if only you believe in him and do what he says
Proverb (3:27;21:26;22:9 ,,Deu.28:1-5)
Contact the MD of the orphanage foundation on WhatsApp on +2348110852793 and send your donation to them
God bless you,,
Now imagine if you get 1 million KWD. Thats equivalent to arround 3 Million Dollars. Just to make sure mrbeast don't Give people with this crazy currency...lmao
I am fome Kuwait
4:58 that’s not a South Korean won
That’s a North Korean from the 3rd Won
But pretty much all valuable currencies have strong economies
That's what the Iraq dinnar should have still been
Right
Also Oman riyal has always been $2.60
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Venuzuela
4:06 so 3 Kuwaiti dinar is equal to 1 US dollar?
The opposite is true
1 Kuwait dinar = 3.3 USD
Because we back it with oil and gold and silver not fake stuff
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847
306
9366
Kuwait... so low population, so much proven (more or less) oil and I guess also a potential for natural gas production, I'm not sure but I think for the most time since WW2 ("modern oil era") they even didn't really drill offshore or only very close to the coast? Even if their sector is maybe pretty small because of Bahrain and Qatar and Iran having the jackpot (largest gas field in the world and more), so even a small kuwait sector could contain huge oil and gas reserves, oil is close to its peak (demand, not production, we will never see a physical shortage of oil...) but that doesn't mean it gets worthless over night... also natural gas will continue to grow for a while as the "greenest" fossil fuel of the "big 3" (coal, oil and gas), greanest sounds besser than "the least dirty", however new technology makes the US to a giant producer and they were preparing to get a huge LNG-exporter by mid 2020's, corona bought the other natural gas majors maybe 2 or 3 years before this competition comes,
if kuwait is not creating extreme amounts at a stock or so and only prints money and coins which the small population needs, together with the small amounts of the money you will find in some areas exchange shops/banks, than its really safe... they could also declare "1 Kuwait Dinar is backed by 4 - 10 liters of crude oil" (4.2 US gallons or 0.42 gallons would be smarter as the barrel is exactly 42 US gallons but why should they use that...), even if oil demand goes back there will be some use for oil in the coming decades, I mean even today still more people are using petroleum lamps because they don't have electric energy for lightning or their goverment is collapsing and there are often blackouts, like Venezuela did after the US sanctions in 2018 became really serious, now its the first oil major (nr. 1 in reserves in many statistics because unconventional oil sands are included) ever which will maybe see a production of around zero.... NOTHING! the state collapsed and for a while maybe the state oil company wont produce anything,
prices in venezuela were always extreme low, even below the production and refining costs for their best projects, but as they could export enough... also chavez used a lot of it under this special agreement, but he should have had invested more in future production and not offering other "bolivarian" states in his revolution oil at special conditions when prices were at special marks, like 2008 and before when there were offers for prices between 30 and over 100 US-$ per barrel, in the last case only 50% had to be paid in a pretty short period (I think ~25% immediately) and the remaining ~50% was in attractive mid-term and sometimes even long-term credits....he created a program and the amount of oil was limited, there were a lot of members but most oil went to Cuba and to another country...now cuba faces a crisis and I dont think they have the technology to operate in the gulf of mexico, and no company will work with them because you are an enemy of the US than... so cuba now even with low oil prices is feeling how it looks like to have to pay 100% for the oil or gasoline/product, or refine it yourself...
well in a few years I think it will be hard to keep the OPEC+ together when demand goes down and down, someone will try to "cheat" and sell large amounts as long as possible, but if everyone do the price for oil could really heavy collapse with electric mobility on the rise...
God bless you beloved.
I don't know you in person but God knows you well God reveal a revelation to me when I was going through your profile
to observe things about your spiritual life. while I was meditating
I saw a divine breakthrough in your life and I saw evil attacks of
the enemies manipulating on seizing your favour and to come against your hand work for you to be confused and lost hope. in life As i was praying the Lord reveal to me and instruct you to sow a seed into the life of a baby suffering from leukemia in children of tomorrow orphanage home located in kebbi state in Nigeria before the end of tomorrow and let me know so I can join you in prayers deeply because he want to manifest his promises in your life and that of your family Nobody should know about the seed is between you and God, you will testify to the Glory of God after you have done it if only you believe in him and do what he says
Proverb (3:27;21:26;22:9 ,,Deu.28:1-5)
Contact the MD of the orphanage foundation on WhatsApp on +2348110852793 and send your donation to them
God bless you,,
The population is 4.8 mil but ironically 2.8 million of them are immigrants (India, Bangladesh, Pakistan, Europeans etc)
Not really, Kuwaiti highest currency is KD 20 and they use 1/1000 subunit called fils. Their fils denominations range from 5, 10, 20, 50, 100, 250 (KD ¼), 500 (KD ½) and 1000 (KD 1). Their Dinar denominations only range from KD 1, KD 5, KD 10 and the highest one is KD 20. It is an illusion actually. If they use 1/100 subunit, there will be 5 fils, 10 fils, 20 fils, 50 fils, 1 KD, 2½ KD, 5 KD, 10 KD, 50 KD, 100 KD and 200 KD. So, it is nothing to be exaggerated with and it is just an illusion.
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But still Kuwait is freaking rich😁😁😁
Yeah 5th richest
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Investing in a different streams of income that doesn't depend on the government to bring in money especially now the pandemic is hitting the country pretty hard will be the wisest decision.
Apparently that's true but some folk are not aware of that.
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If you wanna be a trillionaire move to Kuwait
How can the dependent Kuwaiti Dinar have more value than the independent American dollar. I think there is some sort of misunderstanding or technical difficulties such as the Dinar has less value and that's why the number is bigger. Kuwait has oil reservoirs but USA has many different types of reservoirs/commodoties including oil. Kuwait is a desert and Dinar looks like cartoon money lol.
Kwd isn’t dependent it’s independent since 1960s i don’t get what do you mean
And what do you mean it looks “cartoony” it’s simplified also Kuwait isn’t a “dessert only Jahra (northern Kuwait) is a desert
@@achoch Kuwait is a desert biome and I said Kuwait Dinar is dependent because it's pegged to the dollar and the money is colorful. You didn't watch or understand the video?
The Kuwaiti Dinar is the most valued currency Because, The Kuwait dinar has only 5 types of money, It has Quarter, Half, 1, 10, 20, The more less types the more valued it is, It is also a ancient type of money from our ancestors.
@@hussainbensafar1808 that is not how the value of a currency is determined.
@@AfsanaAmerica Ok then, explain why it is so valued if you do know.
that never happened show me the dates?
Bahraini dinar?
Yes sir
the bahraini dinar is the 2nd
And the fact that KWD is pegged into USD
And another fact that USD is pegged into AFG (Afghani) since 2001! (Thanks to MF Traitor Bush)
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I have a car in Kuwait a man and I have kd
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let's talk about iraq currency
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@@Mr2013skywalker Hello
Hey I’m from Kuwait!
I
This is very correct and good to the newbies you should also note that this data is worthless without an existing understand of data analysis
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1kwd is equal to 1000fils
God bless you beloved.
I don't know you in person but God knows you well God reveal a revelation to me when I was going through your profile
to observe things about your spiritual life. while I was meditating
I saw a divine breakthrough in your life and I saw evil attacks of
the enemies manipulating on seizing your favour and to come against your hand work for you to be confused and lost hope. in life As i was praying the Lord reveal to me and instruct you to sow a seed into the life of a baby suffering from leukemia in children of tomorrow orphanage home located in kebbi state in Nigeria before the end of tomorrow and let me know so I can join you in prayers deeply because he want to manifest his promises in your life and that of your family Nobody should know about the seed is between you and God, you will testify to the Glory of God after you have done it if only you believe in him and do what he says
Proverb (3:27;21:26;22:9 ,,Deu.28:1-5)
Contact the MD of the orphanage foundation on WhatsApp on +2348110852793 and send your donation to them
God bless you,,
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hooray i can buy games with mass discounts and its always cheap. ATLEAST I DOWNLOADED STEAM IN TURKEY NOW I AM RICH AS F
How do you explain their wealth if it isnt a reflection of their performance? Duhhhh
If your a Kuwaiti and you try to buy a video game it is gonna look so cheap lol
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I guess it’s so expensive to live in Kuwait
Imagine converting into indian currency 💀🥶🔥🗿
(idk the name i forgot sry)
Two words: Oil money
Oil doesn’t mean guaranteed money like Venezuela is rich of oil but suffers from economic crisis it’s just that they just play less risky
For Brits: Colonial thievery money
It sure felt down now
Iraqi Dinar is next
Let’s go 🎉
Amazing what marketing can do
🇮🇶 🍊
🇰🇼 🍏
But KWD or simply Kuwaiti dinar is not a major, minor, and even an exotic currency it’s not peak on top 20 most tradable currencies in the world
exactly there’s a difference between strongest currency and most tradable currency
in other words, corruption, artificial, and really worthless
USD with bidenflation? Right!
Caution Dinar can lose half or more of its value. Be warned! If US Dollar collapses! God bless!
This video is false information. Not any country can raise or lower the value of their curacy without consequences.
Currency value is largely dependent on price of the major commodity or service a country exports.
I'm a PhD researcher in marketing and economics. There are many factors that contribute to why it would be an advantage or disadvantage to value a currency unit so high. This is not to show off wealth or look cool. This highly valued currency has to do with the nature of commodity export.
I'll only mention the two most important factors because it can get complicated. It's true that the KWD is not necessary the most traded currency. And a highly valued currency is not a reflection of economic sustainability but it is a sign of a stable economy. Stable because the world will always be in need of that export. Unsustainable because they only export one type of commodity. The major export of that country happens to be the second most valued commodity in the world and that's oil/gas. The most valued commodity in the world is gold. Coffee comes third. Highly valued commodity means that you will always have buyers. When a country almost exclusively exports one of those commodities, it's to their advantage to value their currency unit to the unit price of that commodity. The price of an oil barrel is not cheap by all means (almost $100 per barrel, today). When counties buy oil from Kuwait. They have to buy it in KWD and not USD. This means that the price of one barrel ($100) must be exchanged to KWD to buy it from Kuwait. When such transaction takes place it becomes to the advantage of that country because it's exchange rate is significantly higher than all of the major buyers in the world. The major oil buyer are the US, Europe, Japan and the UK. That's why it makes sence to always mark their currency value higher than that of their buyers. The other reason is high GDP because of their relatively small population of less than 2m citizens.
Now let's take Colombia as a counter example. Colombia is also a major oil exporter. But guess what, it also happens to be one of the largest coffee exporters in the world. Both of their exports are major. Nevertheless, the unit price of coffee is quite low relatively. There are more units of coffee being exported than the units of oil. So, it's definitely not to their advantage to increase their currency value. Colombia has a lower GDP because of their large proportion. GDP also effects currency value. So in their case, they have a combination of exported commodities. These factors make the value mark of the Colombian Peso to be more complicated to decide on in comparison to the KWD. It also means that Colombia has a more sustainable economy. So, lower currency value is not always a bad thing. But now let's imagine Colombia does what the speaker of this video is suggesting. To mark their Peso higher than the KWD "because they can". Imagine what would happen to the export prices of their coffee.
So in summary, if Kuwait exported more coffee than oil. You would definitely see them lowering the value of the KWD. But because they actually export nothing but oil the decision of currency value becomes much more straight forward. Lastly, if there were a country that exclusively exports gold, you would most likely see their currency value to be higher than Kuwait.
Currency values are not as primitive as how this video makes them appear.
Money so dumb not worth anything
I wish i can get Kuwait Viewer's on my channel so my cpm will be boosted like there currency 🤣