Kuwaiti Dinar / Turkish Lira

KWD/TRY shows the Turkish lira value of Kuwait's currency, the dinar. The dinar is managed by the Central Bank of Kuwait. The Kuwaiti dinar is among the currencies with a very high unit value, so the Turkish lira equivalent of a single dinar is a considerable amount.

Unlike many of its Gulf neighbors, Kuwait pegs the dinar not only to the US dollar but to a basket made up of the currencies of its main trade and financial partners, with undisclosed weights. Because the dollar is assumed to carry a high weight in the basket, the dinar moves closely with the dollar, but moves in other currencies can create small differences. Kuwait returned to this basket regime in 2007.

Kuwait's economy relies on crude oil exports, and the state has a long-established wealth fund that channels oil income into long-term investments. The KWD/TRY value on Lzzo.com is a cross reference rate calculated via the US dollar from market exchange rates; it is not a bank or exchange office price.