Posted by Vision on May 13, 2014 at 2:39pm October 14, 2011
The Kuwaiti Dinar Revaluation.....What happened? For Dummies.
I will attempt to tell you the history of the Kuwaiti dinar revaluation in a nutshell. Saddam Hussein (we all know him) invaded Kuwait and tried to get rid of Kuwait’s dinar by sending it back to Iraq.
At the same time, he was replacing it with the Iraqi Dinar. When this happened, the street value of the Kuwaiti dinar dropped drastically in value to reportedly .05 cents per dinar. The U.S.A. is pissed, so they go in and kick some serious butt and kill thousands of Iraqi troops who try to flee.
Things cool off and the National bank of Kuwait re-opens after months of disruption and chaos. ....
They announce that all Kuwaiti dinar will be accepted and honored at the pre invasion rate which was around $3.64. So, here’s where it gets good.
People who bought the Kuwaiti dinar for .05-.10 cents went to the bank and exchanged their Kuwaiti dinar for $3.64 per dinar. About 3 months later, Kuwait issued new Kuwait dinar notes and called in the old pre-war notes. So, as the facts show, some people became rich over night on their Kuwaiti dinar.
LINK - http://dinarrevaluation.wordpress.com/2011/10/14/the-kuwaiti-dinar-revaluation-what-happened-2/