In sandyf

[Revaluation of Iraqi Dinar – The best example of Iraqi dinar revaluation is the Kuwaiti Dinar revaluation that occurred in 1990 and people who invested in the Kuwaiti dinar became billionaire over night.] As for Kuwait, there was never any revaluation, during the occupation the KWD was removed as the national currency and then reinstated. During that time the Central Bank of Kuwait still operated in exile and they never changed anything, a revaluation can only come from the Central Bank, anything else is speculation. This is how the reinstated value came about. “The banks were instructed to set their accounts at their August 1, 1990 levels, and to pay interest on savings and fixed deposit accounts for the entire period of the occupation.”