There is a good news for Indians working in Kuwait. There has been a big change in the value of Indian Rupee against Kuwaiti Dinar. Within just five years the value of the Kuwaiti dinar has increased by approximately Rs 60. On March 11, the price of one Kuwaiti dinar reached close to Rs 299.80. Due to this, people working in Kuwait are now able to send more money home to India than before.
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How the value of Kuwaiti dinar changed in 5 years
In the year 2021, the value of Kuwaiti Dinar was quite low. On March 13, 2021, 1 Kuwaiti Dinar was equal to Rs 239.66 in India. On March 11, 2026, this price has increased to Rs 299.80. This simply means that the value of the dinar has increased by 25 percent in the last five years. Kuwaiti Dinar is considered to be the strongest currency in the world and the expatriates living there are directly benefiting from it.
What is the impact on the salaries of Indians?
Due to increase in the value of Dinar, the value of salary of Indians living in Kuwait has increased in India. If a person earns 1000 dinars in Kuwait, then in the year 2021 its value in Indian rupees would be Rs 2 lakh 39 thousand 660. But now according to the price of Rs 299, the value of the same 1000 dinars has become Rs 2 lakh 99 thousand 800. That means, without any increase in salary, Indians are getting additional benefit of about Rs 60 thousand every month. Because of this, exchange houses like Al Mulla Exchange, LuLu Exchange and Joyalukkas are witnessing a huge rush of people sending money.
The real reason for the strengthening of the dinar
The Central Bank of Kuwait (CBK) keeps its currency linked to a basket of international currencies, of which the US dollar is the most important. India’s rupee has weakened against the US dollar, which has a direct impact on the exchange rate of Kuwaiti dinar and rupee. Apart from this, now most of the expatriates are sending money through mobile app, where they are getting a good rate of Rs 299.80. In India, there is no tax on this money sent for family expenses.