The Most Expensive World Currencies in 2018


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  • Written by:

    Pratibha bissht

    pratibhabissht@mtkenyatimes.co.ke

     

    Kuwait Dinar – Kuwait is the small country with enormous wealth. Best value (rate) of its currency is explained by significant oil goods exports into the global market. The currency code for Dinars is KWD. Kuwaiti Dinar has been the highest currency in the world for a while now because of the oil – rich country’s economic stability.  Kuwait Dinar is the highest world currency against US Dollar.

    1 KWD = 3.33 USD

     Bahrain Dinar – Bahrain is the Persian Gulf island state with population of a little more than 1 million people. As in the first case this country largest income is the “black gold” exports. It is interesting that Bahrain Dinar is pegged to US Dollar exchange rate and its rate against US Dollar stays the same for 14 years already. The currency code for Dinars is BHD and the currency symbol is BD. Bahrain attracts expats from all over the globe because of being the second highest Currency in the world.

    1 BHD = 2.65 USD (pegged to dollar)

    Oman Rial – Oman is the Arabian Peninsula country. According to its strategic location it obtains developed economy and high life quality. It is considerable that purchase power of this currency is so high that the government has to issue 1/4 and 1/2 Rial paper bank notes. The rial or OMR is the currency of Oman. Before 1940 Oman used INR as its official currency and this is why the most popular Rial exchange rate is INR to OMR Rate.

    1 OMR = 2.60 USD (pegged to dollar)

     Jordan Dinar – The Jordanian dinar is the currency of Jordan. It is hard to explain high value of Jordan Dinar. This country is not economically developed and it lacks essential resources such as oil. West Bank used Jordanian Dinar and the Israeli shekel as well. The most popular Jordan Dinar exchange rate is the JOD to EUR rate.

    1 JOD = 1.41 USD (pegged to dollar)

    British Pound– The pound sterling (£) or GBP is the currency of Great Britain. It is also the official currency of Jersey, Guernsey, the Isle of Man, South Georgia and the South Sandwich Islands, the British Antarctic Territory, and Tristan da Cunha. British Colonies issue its own bank notes which are visually differs from banknotes issued by the Bank of England but they are rated as 1 per 1.

    Therefore, there are several of them: Scottish, North Ireland, Manx, Jersey, Guernsey, Gibraltar Pounds, as well as St. Elena Island Pound and Folkland Islands Pound.  Native Britain does not always want to accept “other” Pounds as a payment.

    The most popular United Kingdom Pound exchange rate is the EUR to GBP rate. Sterling is the fourth most-traded currency in the foreign exchange market, after the United States Dollar, the Euro, and the Japanese Yen.

    1 GBP = 1.39 USD

     European Euro –  The euro  or EUR is the official currency of the euro zone which consists of 19 of the 28 member states of the European Union: Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain. The euro has one of the highest combined values of banknotes and coins in circulation in the world, having surpassed the U.S. dollar at one point.  The euro currency has strengthened over the past few years. Partially its strength is explained by the fact that it is the official world currency in European countries among which you will find several economically developed countries. Euro is the second reserve world currency enveloping 22.2% of all world savings (US Dollar has 62.3%).

    1 EUR = 1.24 USD

    Cayman Islands Dollar – The Cayman Islands Dollar is the currency of the Cayman Islands. The currency code for Dollars is KYD and the currency symbol is $. Cayman Island is economically very stable. The most popular Cayman Islands Dollar exchange rate is the USD to KYD rate.

    1 KYD = 1.22 USD (pegged to dollar)

    US Dollar – The US Dollar is the currency of the United States. US Dollar is the most traded currency in the world. Owing to USA world economic leadership, its currency achieved such a title as “World Reserve Currency”. In other words, you can make dollar payments everywhere (in any country). . The most popular United States Dollar exchange rate is the USD to EUR rate.

    1 USD = 1.00 USD

     Swiss Franc – Switzerland is not only one of the richest countries in the world but it is also one of the most stable. Its bank system is known for its resolute “Bank Secrecy”. The Swiss Franc or CHF is the currency of Switzerland and Liechtenstein. The most popular Switzerland Franc exchange rate is the EUR to CHF rate. Switzerland’s famously secretive banking sector made the national currency a safe haven for international capital. The country pegged the franc to the euro when it joined the currency union, opting for a dual system rather than choosing to abolish the franc.

    1 CHF = 1.06 USD

    Australian dollar – the Australian Dollar is the currency of Australia. The Nickname of Australian Dollar is Buck or Dough. The most popular Australia Dollar exchange rate is the USD to AUD rate. The currency code for Australian Dollar is AUD and Australian Dollar is One of the most stable and popular currencies.

    1 AUD = 0.78 USD

     

     

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