If you’ve ever stared at a currency exchange board at the airport and wondered why one "dinar" costs three dollars while another is basically worth a fraction of a penny, you aren't alone. It’s a mess. Most people think a currency name belongs to just one place—like the Yen or the Baht—but the dinar is different.
Dinar is the currency of nine different countries today.
It isn't a shared currency like the Euro, though. If you try to spend an Algerian dinar in Kuwait, the shopkeeper is going to give you a very confused look before politely (or not so politely) showing you the door. They share a name, a history, and a linguistic root, but that is where the similarities end.
The Modern Map of the Dinar
So, who actually uses it? As of 2026, the list is spread across North Africa, the Middle East, and a surprising outlier in Southeast Europe.
- Kuwait (KWD): The heavyweight champion. It’s consistently the most valuable currency unit in the world.
- Bahrain (BHD): Another high-value player, usually pegged to the US Dollar.
- Jordan (JOD): Widely used in Jordan and unofficially in the West Bank.
- Iraq (IQD): Perhaps the most famous because of the speculative "get rich quick" schemes you see online.
- Algeria (DZD): The North African giant.
- Libya (LYD): Despite years of civil unrest, the Libyan dinar remains the official tender.
- Tunisia (TND): You'll see these if you're vacationing in Carthage or Tunis.
- Serbia (RSD): The only European country on the list.
- North Macedonia (MKD): They call theirs the denar, which is just a linguistic spin on the same word.
Why is it Called a Dinar Anyway?
The name isn't just a random word. It’s actually a ghost of the Roman Empire. It comes from the Latin word denarius, which was a silver coin used across Rome for centuries.
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When the early Islamic Caliphates were looking to establish their own trade systems in the 7th century, they basically took what was working—the Roman denarius and the Persian drachm—and "Islamicized" them into the gold dinar and silver dirham.
Honestly, it’s kinda cool that when you pay for a coffee in Amman today, you’re using a word that Julius Caesar would have recognized.
The Massive Value Gap: Kuwait vs. Iraq
This is where people get tripped up. Because they share a name, there's this weird misconception that they are somehow linked. They aren't.
The Kuwaiti Powerhouse
The Kuwaiti Dinar (KWD) is incredibly strong. Why? Oil, mostly. But also because the Central Bank of Kuwait is very disciplined. They peg the currency to a secret "basket" of other international currencies. This keeps it stable. One KWD will usually net you more than $3.20 USD.
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The Iraqi Speculation
Then there’s the Iraqi Dinar (IQD). Since the 1990s, it has been plagued by hyperinflation and war. One US Dollar will get you about 1,310 Iraqi dinars.
You’ve probably seen those "Iraqi Dinar Revaluation" (RV) rumors on the internet. People claim that one day the Iraqi dinar will suddenly jump back to its 1980s value and make everyone millionaires. Expert advice? Don't hold your breath. Currencies don't just "reset" like a video game. The economic math—massive money supply and internal debt—just doesn't support a 1,000% jump overnight.
The European Outlier: Serbia
Most people assume the dinar is a strictly "Middle Eastern" thing. Then you go to Belgrade and realize you’re paying for your ćevapi in Serbian dinars.
The Serbian dinar has survived through some of the worst hyperinflation in human history (specifically in the early 90s during the Yugoslav wars). At one point, they were printing banknotes with so many zeros you couldn't even read the number. Today, it’s much more stable, though it's definitely not a "strong" currency in the global sense compared to the Euro.
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What You Need to Know Before You Travel
If you’re heading to any of these spots, there are a few "ground truths" you should keep in mind so you don't lose money on exchange fees.
- Check the Symbol: They aren't all the same. Jordan uses "JD," Kuwait uses "KD," and Serbia uses "din." or "RSD."
- The "Fils" and "Millimes" Factor: Most Westerners are used to a currency dividing into 100 parts (like cents). Many dinar-using countries divide their unit into 1,000 parts. In Kuwait and Bahrain, they’re called fils. In Tunisia, they’re millimes. It makes the math a bit weirder when you're looking at a price tag.
- Closed Currencies: Some countries, like Tunisia, have strict rules. It is actually illegal to take Tunisian dinars out of the country. You’re supposed to change them back at the airport before you clear security.
Summary of Currency Values (2026 Estimates)
| Country | Code | Approx. Value vs 1 USD |
|---|---|---|
| Kuwait | KWD | 0.30 KWD |
| Bahrain | BHD | 0.38 BHD |
| Jordan | JOD | 0.71 JOD |
| Libya | LYD | 4.80 LYD |
| Tunisia | TND | 3.10 TND |
| Serbia | RSD | 108.00 RSD |
| Algeria | DZD | 134.00 DZD |
| Iraq | IQD | 1,310.00 IQD |
Final Actionable Steps
If you're planning a trip or looking at these for investment, here's the play:
- Avoid the "RV" Scams: If someone tells you the Iraqi or Vietnamese currency is about to make you a millionaire, run.
- Carry USD or EUR for Exchange: In places like Jordan or Algeria, having "hard currency" often gets you a better rate at local exchange houses than hitting a random ATM.
- Empty Your Pockets: Before leaving North African dinar countries, spend your coins. They are worthless once you cross the border, and most exchange booths won't take small change.
The dinar is a fascinating window into history, but practically speaking, it's just a name. Treat each country's money as its own unique beast.