Currencies are used for purchasing items, although not each and every currency is having a similar value. Each and every country in the world are using their own version of currencies, but their value is depending on the economic condition of the country.
If you are interested in learning about the most expensive currencies in the world, then you are in the right place. We have listed down the most valuable currencies in the world in this article for you.
Top 10 Most Expensive Currencies in the World
- The Kuwaiti Dinar
- The Bahraini Dinar
- The Omar Rial
- The Jordan Dinar
- The British Pound Sterling
- The Cayman Islands Dollar
- The European Euro
- The Swiss Franc
- The US Dollar
- The Canadian Dollar
These are the most expensive currencies available in the world, but this list might not be the one that you are expecting. There are around 180 monetary classifications of bag notes which are used in more than 195 countries. Only the historical and well-established currencies are considered the most expensive and they deserve to be on the top.
1. The Kuwaiti Dinar
The national currency of Kuwait is the Kuwaiti Dinar (KWD), and 1KWD = 3.29 USD. This currency was first issued in the year of 1961, just after the independence of Kuwait from the political control of Britain in the Middle East. Till then Kuwait dinar is the most valuable currency available in the world right now.
Kuwait introduced national currency into the monetary system in the year of 1975, which was also known as a weighted currency basket. It was later on replaced by the Iraqi Dinar in the year of 1990 due to the Iraq invasion. In the year 1991, the Government of Kuwait came to power after the liberation and they restored their dinner exchange rate.
2. The Bahraini Dinar
The Bahraini Dinar is the national currency of Bahrain, and 1 BHD = 2.65 USD. The Government of Bahrain first introduced its currency in the year of 1965 while the British government was still in power.
Later in the year of 1980, they introduced their currency to the International monetary fund special drawing right. The economic condition is strong due to petroleum production and exports.
3. The Omar Rial
Omar Rial is the national currency of Omar, and 1OMR = 2.60 USD. During the sultanate of Oman which was established by Qaboos bin Siad al-Said in the year of 1970, they were using Saudi Rial. Later on, the year of 1973, they have introduced Oman Rial.
Even the currency is not available in a huge amount, it is still the number 3rd due to the economic stability in the country. This country is having a good amount of oil reserves which was first discovered in the year of 1967. Oman is having economic stability due to huge income from tourism, fishing, agriculture, livestock, and handicrafts.
4. The Jordan Dinar
Jordan Dinar is the national currency of Jordan, and it equals 1.41 USD. Jordan achieves independence in the year of 1946, but they have introduced national currency in the year 1949 and 1950.
The Government of Jordan in the year of 1995 linked their national currency to standard drawing rights. The Jordan Dinar is having Great value due to its strong economic stability which was obtained from strong foreign investments as well as high public confidence.
5. The British Pound Sterling
The British Pound Sterling is the national currency of the United Kingdom, which is equal to 1.26 USD. This particular currency is one of the expensive and having a major role in high finance around the world.
After the major events like World war 1, Great depression of 1930, it was removed from the leading world reserve currency. Even after the fall of the ranking in the value, it is one of the most valuable currency available in the world.
6. The Cayman Islands Dollar
The Cayman Islands Dollar is the national currency of the Cayman Islands, which is equal to 1.20 USD. They have introduced their new currency in the market in the year 1972, and till now it is one of the most valuable currencies in the world.
7. The European Euro
European Euro is the currency of the European Union, which is converted into 1.14 USD. Devaluation of the dollar rate keeps on changing continuously due to the flexible exchange rate.
Around 17 countries are using the Euro, it is one of the most valuable currencies available in the world. It is also considered as the most popular and most of the nations are relying on them due to international cash settlements.
8. The Swiss Franc
The Swiss Franc is the national currency of Switzerland, and it is equal to 1.04 USD. This particular currency is also a legal tender of Liechtenstein. This particular currency is used for offshore banks in foreign lands, and it is also used by multinational business companies for researching tax.
9. The US Dollar
The US Dollar is the national currency of the United States of America. the value of 1 USD is equal to 1 USD because it is considered as both World reserve currency and national currency. In the year of 1944, around 44 Nations created the International monetary system and the dollar is elected as the World reserve currency.
USD is considered as World reserve currency, so almost each and every country using this currency. US dollar is on a floating exchange rate, show the actual value always changes which also affects other currencies around the globe.
10. The Canadian Dollar
The Canadian Dollar is the national currency of Canada, which is equal to 0.75 USD. It is one of the most valued currency due to economic stability and usage for purchasing power.
The majority of the investors are using this currency by individual investors, investment bankers, forex brokers, etc. This currency is also having market share value of around 119 USD, and it is the fifth most commonly used currency in the world.
Wrapping Things Up
Get to know about all of the most expensive currencies currently available in the world. We have collected complete information regarding these most expensive currencies from different sources and online researches and posted them in this article for you.
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