What happened between Kuwait and Iraq? August 2, 1990 Iraq invaded Kuwait. They occupied the country around October of 1990. Saddam Hussein told the people in Kuwait they had until October 3rd to exchange their Kuwaiti dinars for the Iraqi dinars. After that the Kuwait dinars wouldn’t have any value…Both currencies immediately were devalued. Kuwait’s dinar was devalued to protect it from being stolen and sold on the black market. Iraqi dinars were devalued because of the invasion. [Post 1 of 2….stay tuned]
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