Many people assume that the highest currency in the world is the American dollar (USD) because it is considered the world's reserve currency. It is used globally because the United States of America has the most flexible financial markets. However, some banknotes have more value than the United States dollar.
Currency refers to banknotes and coins legally recognised as a medium of exchange in a nation. What is the highest currency in the world? Read on to discover the top 15 currencies and how they compare to the United States dollar and Euros (EUR).
Highest currency in the world in 2022
A currency's strength is determined by its stability, international market demand, and economic policies. The value of the national legal tender of a particular nation is not constant.
Instead, it keeps changing based on supply and demand. The following are the top strongest currencies and how they compare with the American dollar and euro.
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15. New Zealand dollar (NZD)
- 1 NZD = 0.65 USD
- 1 NZD = 0.60 EUR
The NZD is the official legal tender in New Zealand. It started circulating in 1967 and is also used in Tokelau, Cook Islands, Niue, and the Pitcairn Islands. Before then, the New Zealand pound was used. Today, you can exchange 1 NZD for 0.65 USD or 0.60 EUR.
14. Australian dollar (AUD)
- 1 AUD = 0.71 USD
- 1 AUD = 0.66 EUR
The Australian dollar (AUD) is the national legal tender of Australia. This legal tender is also used by Australia's external territories and some pacific island states. The AUD is one of the most traded currencies on the forex market. Today, 1 AUD sells for about 0.71 USD or 0.66 EUR.
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13. Singapore dollar (SGD)
- 1 SGD = 0.73 USD
- 1 SGD = 0.68 EUR
Singapore is one of the countries with the highest currencies in the world in 2022. The SGD is usually designated with the symbol S$ to distinguish it from other dollars. 1 SGD is equivalent to 0.73 USD or 0.68 EUR.
12. Brunei dollar (BND)
- 1 BND = 0.73 USD
- 1 BND = 0.68 EUR
The BND is the official legal tender of the Sultanate of Brunei. Its symbol is B$, with the B being used to differentiate it from the dollar bills from other countries. When converted, 1 BND is equivalent to 0.73 USD or 0.68 EUR.
11. Canadian dollar (CAD)
- 1 CAD = 0.78 USD
- 1 CAD = 0.73 EUR
The Canadian dollar was introduced in 1858 and is the official currency of Canada. It comes in denominations of $5, $10, $20, $50 and $100. Canada is a mixed economy, and its service industry accounts for over 70% of the total gross domestic product. Today,
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10. United States dollar (USD)
- 1 USD = 0.93 EUR
The United States dollar is the most popular legal tender worldwide and is the dominant reserve currency in use across the globe. Numerous people believe that it is the highest currency due to its popularity. However, it ranks eighth on the list, and 1 USD is equivalent to 0.93 EUR.
9. Swiss franc (CHF)
- 1 CHF = 1.04 USD
- 1 CHF = 0.97 EUR
The CHF is one of the top 10 highest currencies in the world. It is the official legal tender of Switzerland and Liechtenstein, and CHF stands for Confoederatio Helvetica franc. CHF is the only remaining franc in Europe because all other nations now use euros.
8. Euro (EUR)
- 1 EUR = 1.07 USD
The euro is the official legal tender of 19 of the 27 nations in the European Union. It is one of the most popular currencies on the stock exchange. Initially, it was an electronic currency, but today, banknotes and coins are available. 1 EUR is equivalent to 1.07 USD.
7. Cayman Islands dollar (KYD)
- 1 KYD = 1.20 USD
- 1 KYD = 1.12 EUR
The KYD is the official legal tender of the British Overseas Territory called the Cayman Islands. It is available in denominations of 1, 5, 10, 25, 50, and 100. In 2022, 1 KYD is equivalent to about 1.20 USD or 1.12 EUR.
6. Gibraltar pound (GIP)
- 1 GIP = 1.26 USD
- 1 GIP = 1.17 EUR
The GIP is the official currency for the nation of Gibraltar. GIP notes were first introduced in 1927, while coins were released for circulation in 1988. Before 1927, the country used the Spanish real and British pound.
5. Pound sterling (GBP)
- 1 GBP = 1.26 USD
- 1 GBP = 1.17 EUR
The pound sterling is the basic monetary unit of Great Britain. It is divided into 100 new pence and is the oldest currency in the world. 1 GBP trades for about 1.26 USD or 1.17 euros.
4. Jordan dinar (JOD)
- 1 JOD = 1.41 USD
- 1 JOD = 1.32 EUR
The Jordan dinar is the official legal tender of Jordan. It started circulating in the country in 1949. Before then, the Palestinian pound was used. One dinar is subdivided into 100 piastres, or 1000 fulus, and the JOD denominations available are 0.5, 1, 5 and 10 dinar. 1 JOD trades for about 1.41 USD or 1.32 EUR in 2022.
3. Omani rial (OMR)
- 1 OMR = 2.60 USD
- 1 OMR = 2.43 EUR
Omani rial is the official currency used in the Sultanate of Oman, and it started circulating in 1977. Before then, Gulf rupees were used. Omani coins are available in denominations of 5, 10, 25 and 50 Baisas, while notes are available in 100 and 200 Baisas and ½, 1, 5, 10, 20 and 50 rial. 1 OMR is equivalent to 2.60 USD or 2.43 euros.
2. Bahrain dinar (BHD)
- 1 BHD = 2.65 USD
- 1 BHD = 2.48 EUR
The Bahrain dinar is the official legal tender of Bahrain, and it is divided into 1,000 fils. In 1965, the BHD was available in denominations of 1, 5, 10, 25, 50 and 100 fils. In 1992, new coins were released, and the 500 fils note started circulating. 1 BHD trades for about 2.65 USD or 2.48 euros in 2022.
1. Kuwaiti dinar (KWD)
- 1 KWD = 3.27 USD
- 1 KWD = 3.05 EUR
Which country has the highest currency? Kuwait is the country with the highest currency, and its official legal tender is the Kuwaiti dinar (KWD). This legal tender is divided into 1,000 fils, and it was first released for circulation in 1960 to replace the Gulf rupee. 1 KWD is equivalent to 3.27 USD or 3.05 EUR.
Recap of the highest currencies in the world in 2022
- Kuwaiti dinar
- Bahrain dinar
- Omani rial
- Jordan dinar
- Pound sterling
- Gibraltar pound
- Cayman Islands dollar
- Swiss franc
- United States dollar
- Canadian dollar
- Brunei dollar
- Singapore dollar
- Australian dollar
- New Zealand dollar
Which country has the strongest currency?
Kuwait has the strongest currency worldwide. The country is located in Western Asia and is one of the wealthiest states globally.
Why is the Kuwaiti dinar so high?
The strength of the Kuwaiti dinar is linked to its involvement in the oil and gas market. The nation has large oil reserves throughout the country and is one of the biggest global exporters of this commodity.
Which is the lowest currency in the world?
The Iranian rial is the lowest currency worldwide. One rial is equivalent to about 0.000024 USD in 2022.
The Kuwaiti dinar is the highest currency in the world. It is followed by the Bahrain dinar, while the United States dollar ranks tenth globally.
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