Are you wondering what the most expensive currency in the world is? The UN has recognized 180 currencies as legal tender, and you might want to know which of them holds the maximum value. A currency that carries a higher value as compared to the other is considered a strong currency. On the other hand, the one with the lower value is the week currency. Let’s discuss further the strongest currencies in the world in detail.
Top 10 Currencies In The World Based On Their Value
The below-given list depicts the list of the most valuable currencies in the world, given in the descending order:
Nestled between Iraq and Saudi Arabia, Kuwait boasts of the world’s most expensive currency: the Kuwaiti Dinar. Kuwaiti Dinar was introduced in 1960, and at the time of inception, it was equivalent to one Pound sterling. A significant portion of Kuwait’s wealth is driven by exporting oil to most countries of the world.
1 USD = 0.31 Kuwaiti Dinar
Bahraini Dinar is used in Bahrain and is the second most expensive currencies in the world. It was introduced in 1965. At this time, Bahrain was a British protectorate. Later in 1980, Bahrain pegged the currency to the International Monetary Fund’s Special Drawing Rights. Strong petroleum resources attract a significant part of the country’s economy.
1 USD = 0.38 Bahraini Dinar
Omani Rial is the Omani national currency and has 1000 smaller divisions. The smallest unit of the money is known as Baisa. Once pegged against the US dollar, the value of the Omani Rial increased rapidly with the extensive oil export. Above all, it is the third strongest currency globally with banknotes for 1 /4 and 1 /2 Rials.
- 1 USD = 0.39 Omani Rial
Jordan Dinar is at number four in the list of the most expensive currency in the world and used in Jordan. It is also known as Jordanian Dinar, and its abbreviation is JOD. The currency officially rolled out in 1950. Before that, the Palestinian Pound was the official currency of the country. There are not one but multi-faceted aspects (big and small) that make the currency listed in the club of the most expensive world currencies.
- 1 USD = 0.71 Jordanian Dinar
Pound sterling, or Great British Pound (GBP), ranks at number five when listing the world’s most expensive currency. It is the oldest currency used to date without any hindrance when the rest of the European countries adopted the Euro. Besides, it is a widely used currency in many countries of the world. However, their forms and visual appearance are different, but the value is the same.
- 1 USD = 0.77 Pound Sterling
Gibraltar Pound has secured its position at number six in the list of the most expensive currency. In Gibraltar, you can use both GBP and GIP as they are exchangeable at face value. It is a British territory in the Iberian Peninsula whose economy comes majorly from the following sectors: financial services, online gaming, and tourism.
- 1 USD = 0.77 Gibraltar Pound
Cayman Islands Dollar
Sliding at number seven in the most expensive currency list, you will see Cayman Islands Dollar holding its place. The Cayman Islands is an autonomous British territory in the Caribbean. Above all, the Cayman Islandsis the best tax haven for rich individuals and companies. The currency has a total of 100 subdivisions, and Cent is its smallest unit.
- 1 USD = 0.83 Cayman Islands Dollar
Note: Havens or safe havens are the countries that are considered as politically and economically stable. In addition, The currencies of these countries recover faster from crisis situations.
The next most expensive currency is Euro. It is the official currency of the 19 countries. Ranked at number eight in the most expensive world currencies, Euro is also the most widely used official currency. After the USD, Euro is the second most traded currency on the foreign exchange market.
- 1 USD = 0.85 Euro
Swiss Franc, also known as CHF, is the national currency of Liechtenstein and Switzerland. Switzerland has a strict monetary policy and low debt levels. This is why Swiss Franc is considered as highly safe for trading and storing currency. Businesses that search for tax havens find Switzerland suitable due to its secretive banking sector.
- 1 USD = 0.83 Swiss Franc
United States Dollar
The United States Dollar or USD stays in the 10th position in the world’s most expensive currency list. Besides, it is also the most traded currency in the world. USD to EUR rate is the most popular exchange rate in the United States of America.
This post is a deliberate attempt to help people curious about the most expensive currency in the world. Be hooked up for more!