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Kuwait's RV


Blessed4ever
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Hey all,

Just wondering if anyone knows any info in regards to when Kuwait RVed. I couldnt really find the answers I was looking for.

When their country RVed their currency, how did the officials in governement there handle it? Did they tell their citizens in advance, or prepare them somehow? Did they announce it in the press, or was it kept a secret to the world, and the people when it happened? Where the citizens caught off guard by this or were they expecting it?

Just wondering if it will be something similiar with Iraq or something completely different.

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If I am not mistaken, they gave a two week advance, then came in with a low RV, which drove the price up over $7.00. Then it cam back down to around where it is now. They made a lot of mistakes doing their RV, hopefully Iraq is learning. If I am wrong, please correct me.

Blue Horseshoe

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Hey all,

Just wondering if anyone knows any info in regards to when Kuwait RVed. I couldnt really find the answers I was looking for.

When their country RVed their currency, how did the officials in governement there handle it? Did they tell their citizens in advance, or prepare them somehow? Did they announce it in the press, or was it kept a secret to the world, and the people when it happened? Where the citizens caught off guard by this or were they expecting it?

Just wondering if it will be something similiar with Iraq or something completely different.

Easy. Kuwait never RV'd.

Kuwait was invaded by Iraq who came in and stole just about everything they could find. After the U.S. pulled their arses out of the fire, the Kuwaiti government had to issue a new series of currency to make what Iraq stole worthless. It was exchanged 1 to 1.

There is absolutely nothing in common between the situation in Kuwait and Iraq.

Iraq's currency is worth little because of the effects of a few wars and a couple of decades of economic sanctions. Unfortunately, those effects are real and cannot be reversed by saying "Presto Chango, Go RV!!!"

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I thought that when Saddam invaded Kuwait, he stole their printing mints and a lot of their currency and so Kuwait had to devalue their currency until the US came in and got Iraq out. Then after the war and the printing mints and money that Saddam stole was found and brought back to Kuwait, they reinstated/revalued their currency back.

Isnt this basically how it happened?

Edited by Spoolin
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I thought that when Saddam invaded Kuwait, he stole their printing mints and a lot of their currency and so Kuwait had to devalue their currency until the US came in and got Iraq out. Then after the war and the printing mints and money that Saddam stole was found and brought back to Kuwait, they reinstated/revalued their currency back.

Isnt this basically how it happened?

It was an entirely new series of notes. The series in effect when Iraq invaded was demonetized.

Kuwaiti dinar

When Iraq invaded, they replaced KD with IQD. Remember the time frame this happened, 1990 BI (before internet). There may have been some people who dumped their KD for dollars during this time, but it was more on the scale of face to face transactions. I highly believe that all official trading was halted during this time frame. If anybody made much money on this, the stories are purely word of mouth and to date I believe none have been substantiated.

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