1 RMB (Chinese Yuan Renminbi - CNY) is approximately equal to 0.0475 KWD (Kuwaiti Dinar). It is the official currency of Kuwait, a nation in the Persian Gulf, bordered by Saudi Arabia and Iraq. Kuwait has a very strong economy due to its oil reserves which accounts to 10 % of the World's oil reserve. Japan is the largest consumer of Kuwaiti oil, followed by India, Singapore, and South Korea. 1 KWD (Kuwaiti Dinar) is subdivided into 1000 Fils. The Currency of Kuwait is issued and governed by the Central Bank of Kuwait. KWD is pegged to none.