First series

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 KD 1⁄4, KD 1⁄2, KD 1, KD 5 and KD 10.

Second series

After the creation of the Central Bank of Kuwait in 1969 as a replacement to the Kuwaiti Currency Board, new KD 1⁄4, KD 1⁄2 and KD 10 notes were issued from 17 November 1970, followed by the new KD 1 and KD 5 notes of the second series on 20 April 1971.^[5] This second series was withdrawn on 1 February 1982.

Third series

The third series was issued on 20 February 1980, after the accession to the throne of late Emir Jaber Al-Ahmad Al-Sabah, in denominations of KD 1⁄4, KD 1⁄2, 1, 5 and KD 10. A KD 20 banknote was introduced later on 9 February 1986. As a result of the state of emergency after the Invasion of Kuwait, this series was ruled invalid with effect from 30 September 1991. Significant quantities of these notes were stolen by Iraqi forces and some had appeared on the international numismatic market. The "Standard Catalog of World Paper Money" (A. Pick, Krause Publications) lists notes with the following serial number prefix denominators as being among those stolen:

Fourth series

After the liberation, a fourth series was issued on 24 March 1991 with the aims of replacing the previous withdrawn series as quickly as possible and guaranteeing the country's swift economic recovery.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 KD 1⁄4, KD 1⁄2, KD 1, KD 5, KD 10 and KD 20.

Fifth series

The fifth series of Kuwaiti banknotes was in use from 3 April 1994 and included high-tech security measures which have now become standard for banknotes. It was withdrawn on 1 October 2015. Denominations were as in the fourth series.

Fifth series Kuwait banknotes ("We Seek God's Assistance")
Obverse	Reverse	Value	Obverse	Reverse
		KD 1⁄4	Coat of arms of Kuwait; Vignette of Kuwaiti Dhow "Al-Mouhaleb"; Vignette of a Kuwaiti Chest	Vignette of young girls playing traditional game
		KD 1⁄2	Coat of arms of Kuwait; Vignette of Kuwaiti Money Changers' Stalls; Vignette of a Kuwaiti Coffee Pot	Vignette of young boys playing traditional game with marbles
		KD 1	Coat of arms of Kuwait; Vignette of a traditional Oil Lamp; Vignette of Kuwait Towers	Vignette of Mina Al-Shuwaikh; Vignette of a traditional Water Storage Vessel on Stand
		KD 5	Coat of arms of Kuwait; Vignette of the new telecom Tower 'Liberation Tower'; Vignette of a traditional Grinding Stone	Vignette of an Oil Refinery; Vignette of A’Zour Power Station; Vignette of Kuwaiti Water Tanks; Vignette of Electricity Pylons
		KD 10	Coat of arms of Kuwait; Traditional water vessel; The state great Mosque	Fishermen; Vignette Dhow under full sail; A traditional Kuwaiti door; A pearl diving scene; Vignette of a Kuwaiti incense burner
		KD 20	Coat of arms of Kuwait; Cannon; Red Fort at Jahra	Central Bank of Kuwait building; City gate of the old wall

Sixth series

Central Bank of Kuwait brought the sixth series of Kuwaiti banknotes into circulation on 29 June 2014.^[6][2][7] Some of the notes are coarse so that the blind can identify them by touch.^[6]

Sixth series Kuwaiti banknotes[8]
Obverse	Reverse	Value	Dimensions (millimeters)	Color	Obverse	Reverse	Date of issue
		KD 1⁄4	110 x 68 mm	Brown	Liberation Tower and a dhow ship	A traditional wooden Kuwaiti door and the first Kuwaiti coin	June 29, 2014
		KD 1⁄2	120 x 68 mm	Green	Kuwait Towers and a dhow ship	Hawksbill sea turtle and the silver Pomfret fish (Al Zubadi)	June 29, 2014
		KD 1	130 x 68 mm	Grey	The Grand Mosque, a bateel dhow ship	Illustration of many influences of Ancient Greek Civilization in Kuwait's Failaka Island	June 29, 2014
		KD 5	140 x 68 mm	Purple	The new headquarters of the Central Bank of Kuwait	Oil refinery and an Oil Tanker	June 29, 2014
		KD 10	150 x 68 mm	Pink	The National Assembly of Kuwait, a sambuk dhow ship	Falcon and camel dressed in a sadu saddle	June 29, 2014
		KD 20	160 x 68 mm	Blue	Seif Palace, a dhow ship	Kuwaiti pearl diver and Al-Boom traditional Kuwaiti dhow ship	June 29, 2014

Commemorative issues

In both 1993 and 2001, the Central Bank of Kuwait issued commemorative KD 1 polymer banknotes to celebrate its Liberation from Iraq. The first commemorative note, dated 26 February 1993, was issued to celebrate the second anniversary of its Liberation. The front features the map of the State of Kuwait, the emblem of Kuwait and on the left and right side of the note is the list of nations that assisted in its Liberation, in both English and Arabic.^[9] The second commemorative note, dated 26 February 2001, was issued to celebrate the tenth anniversary of its Liberation. One feature from the note is an optically variable device (OVD) patch that shows a fingerprint, a reference to the victims of the invasion and occupation of Kuwait.^[10] Even though they were denominated as KD 1, both of the commemorative notes state that they were not legal tender.

Average exchange rate of Kuwaiti dinar against US dollar (fils)

From 18 March 1975 to 4 January 2003, the dinar was pegged to a weighted currency basket. From 5 January 2003 until 20 May 2007, the pegging was switched to US$1 = KD 0.29963 with margins of ±3.5%.^[11] The central rate translates to approximately KD 1 = US$3.53.

From 16 June 2007, the Kuwaiti dinar was re-pegged to a basket of currencies,^[12] and was worth about $3.28 as of December 2016. It is the world's highest-valued currency unit.^[2]