What are the currencies? We use these valuable papers every day; we choose among Dollar, Naira, Euro, Franc, Dinar and many others. Some of them are cheaper, while some are extremely expensive. It does not matter if you are going to travel or to make investments, you will need to deal with them. Therefore, you will be excited to know what the highest currency in the world is.
There are about 180 currencies on the Earth, and only one of them is the most expensive currency. Many people may suggest that it is Dollar or Euro because they are extremely widespread. However, is it indeed so? If you want to know, just go on reading!
What is the highest currency of the top 10 most expensive ones?
It is a generally known fact that the level of the economic development of a state affects its currency value. To compare their prices, it is necessary to take into account some stable admeasurement. So the list of the top world currencies is based on the price compared to the most traded currency – US Dollar.
10. Canadian Dollar (1 CAD = 0.75 USD)
One Canadian Dollar costs about 270.09 NGN. Its banknotes are issued in 5, 10, 20, 50, and 100 USD denominations. One can see Wilfrid Laurier (first French-Canadian Prime Minister), Queen Elizabeth II, William Lyon Mackenzie King (Prime Minister) and John A. MacDonald (first Prime Minister of the state) depicted on the money. Banknotes design is more colourful compared to USD ans. Moreover, even currency itself is older than US Dollars (CAD was issued in 1817). The currency is used exceptionally in Canada and somehow reminds Swiss Francs.
9. The United States Dollar
As it has been already mentioned, USD is the most popular currency in the world. One USD price is approximately 360.99 NGN. It depicts George Washington, pyramid and eagle on the background. It was introduced in 1913, and its design remained unchanged since 1963. Countries, where Dollar circulates, are the United States of America, Ecuador, El Salvador, the Marshall Islands, Micronesia, Palau, East Timor and Zimbabwe.
8. Swiss Franc (1 CHF = 1.04 USD)
Swiss Franc is the national currency that circulates in Switzerland and Liechtenstein. Shortened name is CHF, and it means Confoederatio Helvetica Franc. Helvetica is the second, elevated name of Switzerland. It is also called Stutz, Stei, Amiese, Frankler, Liber. There are following denominations of banknotes: 1000, 200, 100, 50, 20 and 10 Franc. Smaller money goes in coins. One CHF is 362.58 NGN.
For the first time, Franc was printed in 1907, and up to the 1930s, the Swiss Franc corresponded to gold-silver standard (the standard that connects money supply to gold automatically).
7. Euro (1 EUR = 1.14 USD)
Euro circulates in the European Union, which includes a huge number of European countries such as Austria, Cyprus, Belgium, Estonia, Finland, Germany, Greece, France, Ireland, Italy, Latvia, Lithuania, Malta, the Netherlands, Luxembourg, Portugal, Slovakia, Spain and Slovenia. Due to the prevalence in the EU, Euro has become extremely popular all over the world. Banknotes are common for all Euro countries, but coins have different national symbols depicted on them. The denomination is as follows: 500, 200, 100, 50, 20, 10, and 5 EUR. The rate of this currency in relation to the Nigerian Naira is approximately 405.57 NGN.
6. Cayman Islands Dollar (1 KYD = 1.20 USD)
The currency circulates in the Cayman Islands since 1972. It replaced the Jamaican Dollar. Currently, one Cayman Islands Dollar is approximately N433.42. Money of the state with the highest living standard in the Caribbean takes the sixth place in the rating. It has the denomination of 1, 5, 10, 25, 50 and 100 Dollars. However, banknotes have nothing familiar with habitual green papers. Cayman Islands Dollars are multicolour and bright. They depict Queen Elizabeth II and such symbols as Scallop shell, land crabs, a map of the Cayman Islands and others.
5. British Pound (1 GBP = 1.26 USD)
One of the most expensive and popular world currencies is the British Pound (GBP). It is often used in international trade operations. It actively circulates in the UK and Northern Ireland. Today, in 2019, one British Pound costs approximately 472.60 NGN.
After World War II in 1945, the British pound lost its value. It happened because of the economic fall after the war. Later, Pound restored its positions on the world trade market. Today, it takes fifth place in the rating and is considered almost the best value currency.
It is important to notice that it is an old currency. First black and white banknotes appeared between 1725 and 1745. They changed significantly ever since, and today they are multicoloured and portray the Queen on the United Kingdom.
4. Jordanian Dinar (1 JOD = 1.41 USD)
This currency is recognised by the abbreviation JOD, and it costs about 509.16 NGN. It started its circulation in Jordan in 1949 and subsequently replaced Palestinian pound. Dinar is divided into 100 piastres or 1000 fulus. Images of the royal family are portrayed there, and in the whole banknotes have a beautiful design. Thus their style can be considered outstanding. The banknote also has some inscriptions in Arabic and English.
The country itself has limited natural resources and depends on international connections. However, the government does their best to maintain a stable level of life in the state, and they do it well because the fourth place in the rating definitely tells about prosperity.
3. Omani Rial (1 OMR = 2.60 USD)
This currency is ranked the third among the world top currencies. One Omani rial equals about 937.5 NGN. It circulates in Oman since 1977 and is divided into 1,000 Baisas. The economy of this rich country is based mostly on the oil industry, and the state earned a lot due to joining the World Trade Organization.
2. Bahraini Dinar (1 BHD = 2.65 USD)
Currently, one Dinar equals around 957.65 NGN and is number two world top currency. Today it circulates in Bahrain (the country east of Saudi Arabia and in the middle of the Arabian Gulf). Earlier, the Indian rupee was the national currency of the state, but in 1965, the banknote called Dinar was introduced. Its denominations are 5, 10, 25, 50, 100, 500 and 500.
Bahrain is a prosperous state. 60% of its export products is petroleum, and the level of unemployment there is only about 3.8%, and there is almost no agriculture activity.
1. Kuwaiti Dinar (1 KWD = 3.29 USD)
Kuwaiti Dinar is the strongest currency on the globe! This currency is abbreviated as KWD. The price of one Kuwaiti dinar equals approximately 1185.63 NGN. Statistically, the population of Kuwait is about 4,230,832, and it is continuously growing. Due to economic stability and a good level of life, more and more people immigrate to this state. It is unbelievable, but the number of millionaires there is predicted to reach 39,000 by the end of 2019!
This country is wealthy and prosperous, and it holds 8% of the world oil reserves. Besides, the currency was introduced in Kuwait only in 1961. It grew rapidly and kept on increasing every year. The country has peculiar rules of life that make it prosperous:
- There are no taxes in Kuwait
- The state exports mainly petroleum and oil
- The state trades with the richest world countries like Japan, South Korea, the USA, India, Singapore, the European Union, China, and Saudi Arabia
Now you know that the highest currency in the world is the Kuwaiti Dinar. It may be surprising because it is much more expensive than habitual Dollar or Euro. In the whole, there is a tendency: the most costly currencies circulate in countries where oil is produced. So who knows, maybe these banknotes will replace Dollars in our wallets soon.
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