Highest currency in the world 2020 – Top 10

Highest currency in the world 2020 – Top 10

Currency refers to banknotes and coins legally recognised as a medium of exchange in a country or state. So, what is the highest currency in the world, and how does it perform against the Nigerian Naira?

Highest currency in the world

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There are 180 currencies currently recognized by the United Nations used in 195 countries across the world. The US Dollar, Euro, and the Japanese Yen top the list of most popular currencies on earth respectively, but how do they rank in terms of value?

Highest currency in the world

Different currencies all over the world have different exchange value. One of the factors that affect the value of a currency is the economic development of a country. currency value is not constant, but keeps changing with time. The currency converter {as at 12th February 2020} will help to know how individual currencies perform against the US Dollar, which is the most traded money in the world.

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What is the value of your local currency compared to the US Dollar? If you believe your country has the highest currency in the world, then check the list below to find out.

10. The United States Dollar

What is the highest currency in the world

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One USD is approximately 362.973 (Nigerian Naira). Countries where the US dollar circulates include the United States of America, East Timor, and in Africa, Zimbabwe, among others.

9. Swiss Franc (1 CHF = 1.022 USD)

Highest currencies in the world

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The Swiss Franc is the official money used in Switzerland and Liechtenstein. Its abbreviation, CHF, stands for Confoederatio Helvetica Franc. Swiss Franc comes in the form of banknotes and coins. Banknotes are available in denominations of 1000, 200, 100, 50, 20 and 10 Franc. One Swiss Franc is approximately 371.226 NGN currently.

8. Euro (1 EUR = 1.08775 USD)

What is the highest currency in the world

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The Euro circulates in the European Union and is used in many European countries. The Euro is also popular all over the world. Banknotes are common for all European countries, but coins have different national symbols depicted on them. The denomination are 500, 200, 100, 50, 20, 10, and 5 EUR. The current exchange rate of the Euro against the Nigerian Naira is 394.828 NGN.

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7. Caymanian Islands Dollar (1 KYD = 1.2195 USD)

Highest currency

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The Caymanian Islands Dollar has been in circulation in the Cayman Islands since 1972 after replacing the Jamaican Dollar. One Cayman Islands Dollar currently costs 442.651 NGN. The country has the highest living standard in the Caribbean. The money has denominations of 1, 5, 10, 25, 50 and 100 dollars.

6. Gibraltar Pound (1 GIP = 1.29648 USD)

Highest currency in the world

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The Gibraltar Pound is the official money used in Gibraltar, a British Overseas territory. It was introduced in 1927 and has stormed into the list of the highest currencies in the world. The Gibraltar Pound has the same size as the US Dollar but differs in its banknote design. One Gibraltar Pound costs approximately 470.589 NGN.

5. British Pound (1 GBP = 1.29650 USD)

Most valuable currency in the world

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The British Pound is one of the oldest and popular currencies in the world and is often used in international trade operations. It actively circulates in the UK and Northern Ireland. One British Pound currently costs approximately 470.595 NGN.

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The first black and white British Pound banknotes appeared between 1725 and 1745. They have changed significantly ever since, and today, they have multiple colours and an image of the Queen of the United Kingdom.

4. Jordanian Dinar (1 JOD = 1.41044 USD)

Jordanian Dinar as the highest currency on the Globe

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The Jordanian Dinar is abbreviated as JOD and currently costs about 511.951 NGN. It started its circulation in Jordan back in 1949 and subsequently replaced the Palestinian Pound. The banknote has a beautiful design that makes it outstanding. The banknote also has inscriptions in Arabic and English.

Despite having limited natural resources, the economy of Jordan has gradually stabilised, leading to an increase in the value of the Jordanian Dinar.

3. Omani Rial (1 OMR = 2.60078 USD)

One Omani Rial currently equals about944.014 NGN. It began circulating in Oman back in 1977. 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.

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2. Bahraini Dinar (1 BHD = 2.65957 USD)

Which country has the highest currency in the world

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Which currency is the highest in the world? The Bahraini Dinar is the second most valuable currency in the world. It is the official currency used in Bahrain. One Bahraini Dinar currently equals around 965.354 NGN. In 1965, the Bahraini Dinar began circulating and replacing the Persian Gulf Rupee, which was the official money used in Bahrain. Its denominations are 5, 10, 25, 50, 100, 500 and 500.

So, what is the highest currency in the world?

1. Kuwait Dinar (1 KWD = 3.28089 USD)

Highest currency

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Finally! Kuwait is the country with the highest currency globally. One Kuwaiti Dinar currently equals approximately 1,190.88 NGN. The country has a population of over 4 million people, and it continues to attract more immigrants due to its economic stability and tax exemptions.

The secret of the country's wealth and prosperity lies in oil. It holds 8% of global oil reserves. The Kuwaiti Dinar started circulating in Kuwait in 1961 and since then, its value has continued to increased.

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So, which country has the highest currency in the world? Forget the US, Japan, and Great Britain, but it is Kuwait that claims the bragging rights. Perhaps someday, the Kuwaiti Dinar would also expand and break its geographical boundaries to become the most popular money in the world.

Source: Legit.ng News

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