Highest currency in the world in 2021: Top 10 banknotes

Highest currency in the world in 2021: Top 10 banknotes

Currency refers to banknotes and coins legally recognized 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 in 2021
Photo: canva.com (modified by author)
Source: UGC

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.

So, which is the strongest country in the world?

Top 10 highest currency in the world

A currency's strength is determined by the rate of international market demand, economic policies, and stability. The highest currency relies on the large value of these when traded with INR.

A currency value is not constant but keeps changing with time. The currency converter {as of February 2021} will help to know how individual currencies perform against the US dollar, which is the most traded in the world.

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

10. Canadian dollar ( 1 CAD = 0.79 USD)

Most expensive currency
Different Canadian dollar banknotes. Photo: pixabay.com, @Alexander Lesnitsky
Source: UGC

The Canadian dollar is the tenth largest reserve world currency. It is often called the "Loonie" in honor of the bird depicted on the one-dollar coin.

One Canadian dollar is approximately 300.99 Nigerian Naira.

9. The United States dollar

Highest currency in world
Heap of different nominal per dollars. Photo: pexels.com, @Karolina Grabowska
Source: UGC

The US dollar has the highest demand across the world. The US dollar is used basically in all the countries of the world. The dollar exchange rate fluctuates very often from time to time.

One USD is approximately 381.21 Nigerian naira. Countries, where the US dollar circulates include the United States of America, East Timor, and in Africa, Zimbabwe, among others.

8. Swiss Franc (1 CHF = 1.12 USD)

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Strongest currency in the world
Swiss Franc banknotes sit in the office of a bank in Zurich, Switzerland. Photo: Michele Limina/Bloomberg
Source: Getty Images

Switzerland is not only one of the wealthiest countries in the world, but it is also among the most stable ones.

The Swiss Franc is the official money used in Switzerland and Liechtenstein. Its abbreviation, CHF, stands for Confederation 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 428.52 NGN.

7. Euro (1 EUR = 1.21 USD)

Strongest currency
200 and 500 Euro bill. Photo: pexels.com
Source: UGC

The Euro banknote has strengthened over the past few years. This allowed it to rise in the list of the most valuable currency.

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 their coins have different national symbols depicted on them. The denominations are 500, 200, 100, 50, 20, 10, and 5 EUR.

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The current exchange rate of the Euro against the Nigerian Naira is 463.04 NGN.

6. Caymanian Islands dollar (1 KYD = 1.22 USD)

Highest currency
A photo of the Caymanian Islands Dollar. Photo: @dhanipapermoney
Source: UGC

The Cayman Islands are one of the world's best tax haven. These islands provide licenses for hundreds of banks, hedge funds, and insurance companies.

Its dollar has been in circulation in the Cayman Islands since 1972 after replacing the Jamaican dollar. One Cayman Islands dollar currently costs 464.89NGN.

The country has the highest living standard in the Caribbean. The money has denominations of 1, 5, 10, 25, 50, and 100 dollars.

5. British pound (1 GBP = 1.38 USD)

Highest currency in the world
British pound banknotes and coins. Photo: pexels.com, @Suzy Hazelwood
Source: UGC

British pound is one of the most expensive currency in the world. It is often used in international trade operations.

It actively circulates in the UK and Northern Ireland. One British pound costs approximately 527.75 NGN.

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

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4. Jordanian dinar (1 JOD = 1.41 USD)

Most expensive currency
A photo of Jordanian dinar notes. Photo: @hjsquared2
Source: UGC

The Jordanian dinar is abbreviated as JOD and currently costs about 547.25 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, Jordan's economy has gradually stabilized, leading to an increase in the Jordanian dinar value.

3. Omani rial (1 OMR = 2.60 USD)

Strongest currency in the world
A new 10 Rials banknote of Oman issued in 2010 on the occasion of 40th national day. Photo: @gokhale_ravindra
Source: Instagram

The Omani rial is ranked third among the most expensive currencies in the world. It is abbreviated as OMR.

One Omani rial equals about 991.47 NGN. This is the first banknote with English messages on one side and Arabian signs on the other side.

Omani rial went into circulation in late 1979, replacing Saidian rial. These banknotes are considered protected from fake ones in the best way, and their design is one of the most beautiful and attractive banknote designs.

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2. Bahraini Dinar (1 BHD = 2.66 USD)

Most valuable currency
Bahraini Dinar banknote. Photo: @soy_idalia
Source: UGC

The kingdom of Bahrain is a small island country situated between the Qatar peninsula and the northeastern coast of Saudi Arabia.

The Bahraini dinar is the second most valuable in the world. It is the official currency used in Bahrain.

The most popular Bahrain dinar exchange rate is the INR to BHD rate. The code for dinars is BHD, and the currency symbol is BD.

Indians are the largest expat group in Bahrain and that explains the reason for the INR to BHD popularity.

Bahrain attracts expats from all over the globe because of its currency being the second-highest in the world.

One Bahraini dinar equals around 1013.88 NGN. In 1965, the Bahraini dinar began circulating and replacing the Persian Gulf Rupee, Bahrain's official money.

Its denominations are 5, 10, 25, 50, 100, 500 and 500.

1. Kuwait Dinar (1 KWD = 3.31 USD)

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Highest currency in the world
Kuwait Dinar banknotes. Photo: @schneiderfrx269
Source: UGC

Finally! Kuwait is the country with the highest currency globally. One Kuwaiti dinar currently equals approximately 1260.91 NGN.

The currency code for dinars is KWD. The most popular Kuwait dinar exchange rate is the INR to KWD rate.

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.

Why is the Kuwaiti dinar so high? The Kuwait dinar tends to be so high because of the oil-rich country’s economic stability.

Besides the very stable economy, Kuwait is a tax-free country with a very low unemployment rate and is also considered as one of the richest countries in the world.

So, which country has the highest currency in the world? It is Kuwait that claims the bragging rights. Perhaps someday, the Kuwaiti dinar would also expand and break its geographical boundaries to become the world's most popular money.

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READ ALSO: NIN-SIM registration: How to link NIN to your SIM card before deadline

Legit.ng recently published an article on how to link NIN to your SIM card before the deadline. On December 15, 2020, the Nigerian Communications Commission (also known as NCC) issued a directive titled the "Implementation of New SIM Registration Rules" to all mobile network operators in Nigeria.

The initiative instructed mobile network operators to deactivate all SIM cards which had not been linked with a valid national identity card in 14 days, with effect from December 16, 2020. Here is a helpful guide that will show you all the necessary steps you need to follow to link your NIN to your SIM card.

Source: Legit.ng

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