Most Valuable Currencies in the World
This content was last updated on 26.02.2023 21:29
In the world economy, the difference in value between currencies is very important. Some countries' currencies are stronger than others, and this is closely related to the country's economic and political stability. In this article, we will provide information about the most valuable currencies in the world and explain the reasons why these currencies are strong.
There are nearly 200 countries in the world recognized by the United Nations, and almost all of these countries use their own currencies. Some countries use the same currency as countries with which they feel close and have historical ties, but most countries have their own currency. So what are the strongest currencies in the world today?
While many people will answer this question in British Pounds, this is not actually the case. Arab countries are at the top of the list, followed by European countries. If you are wondering about the most valuable currencies in the world as of January 2023, let's take a look at the list together.
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The Highest Currencies in the World
1. Kuwaiti Dinar
The most valuable currency in the world is the Kuwaiti Dinar. The Kuwaiti Dinar has not lost the title of being the most valuable currency in the world for years. It is distributed by the Central Bank of Kuwait.
Kuwait, which exports a large part of the oil in the world (~10%), receives its oil payments only in Kuwaiti Dinar, which is its own currency, thus creating a very serious demand for its own currency. With this move, Kuwait enables the conversion of the American Dollar to the Kuwaiti Dinar and adds value to the Kuwaiti Dinar as it creates demand for its currency.
Currency Code: KWD
Kuwaiti Dinar Rates;
- 1 KWD - 3.27 USD (Kuwait Dinar / US Dollar)
- 1 KWD - 3.07 EUR (Kuwait Dinar / Euro)
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2. Bahraini Dinar
The official currency of another Arab country, Bahrain, and the second most valuable currency in the world, is the Bahraini Dinar.
Bahrain Dinar, the currency of Bahrain, an island state in the Persian Gulf with a population of approximately 2 million, has been in circulation since 1965 and is printed by the Central Bank of Bahrain.
Currency Code: BHD
Bahraini Dinar Rates;
- 1 BHD - 2.65 USD (Bahraini Dinar / US Dollar)
- 1 BHD - 2.49 EUR (Bahraini Dinar / Euro)
3. Omani Rial
Oman is a country with a developed economy and high quality of life due to its strategic location. Although it has less oil reserves than other Arab countries, Oman's official currency is quite valuable. (it ranks 22nd in the world in terms of oil reserves)
The Omani Rial, minted by the Central Bank of Oman, is not a widely used currency in world trade.
Currency Code: OMR
Omani Rial Rates;
- 1 OMR - 2.60 USD (Omani Rial - US Dollar)
- 1 OMR - 2.44 EUR (Omani Rial - Euro)
4. Jordanian Dinar
The Jordanian Dinar, which has been used as the official currency of Jordan since 1950, ranks fourth in the list of the world's most valuable currencies.
Currency Code: JOD
Jordanian Dinar Rates;
- 1 JOD - 1.41 USD (Jordanian Dinar / US Dollar)
- 1 JOD - 1.32 EUR (Jordanian Dinar / Euro)
5. British Pounds
Many people think that the British pound is the most valuable currency in the world, but it is not.
The British pound, the official currency of the United Kingdom, is also the third most common currency used in world trade.
Originally called the Great British Pound (GBP), the currency is printed and distributed by the Bank of England. It is used in more than 20 countries today due to the British Empire. (Although the banknotes produced by the colonial countries themselves visually differ from those produced by the Bank of England, they are the same in value)
Currency Code: GBP
British Pound Rates;
- 1 GBP - 1.21 USD (British Pound / US Dollar)
- 1 GBP - 1.14 EUR (British Pound / Euro)
6. Cayman Islands Dollar
The Cayman Islands, an island community of the United Kingdom, is the center of most of the money laundered in the world. For this reason, it has one of the strongest currencies in the world.
Currency Code: KYD
Cayman Islands Dollar Rates;
- 1 KYD - 1.20 USD (Cayman Islands Dollar / US Dollar)
- 1 KYD - 1.13 EUR (Cayman Islands Dollar / Euro)
The Euro, the official currency of the European Union, is still one of the most valuable currencies in the world, although it has lost some power recently with the Greek crisis.
The Euro, which is distributed by the European Central Bank and minted by some EU member countries, is the second most used currency in world trade. Today, it is used by 19 European Union member countries.
Currency Code: EUR
- 1 EUR - 1.07 USD (Euro / US Dollar)
8. Swiss Franc
The Swiss Franc, the official currency of Switzerland, one of the richest and most stable countries in the world, is the eighth most valuable currency in the world.
The Swiss Franc, the last franc in use in Europe, is the 4th most widely used currency in world trade.
Currency Code: CHF
Swiss Franc Rates;
- 1 CHF - 1.08 USD (Swiss Franc / US Dollar)
- 1 CHF - 1.01 EUR (Swiss Franc / Euro)
9. US Dollar (United States Dollar)
Although the US dollar is the most widely used currency in the world, it ranks ninth in value.
The American dollar, which makes up 62% of the currencies used in the world, is the common currency of stock markets and world trade. It was first printed in 1914 with the establishment of the Federal Reserve Bank of America. Almost all countries in the world do their foreign trade in dollars, and thanks to this, the United States of America earns serious income in dollars.
Currency Code: USD
US Dollar Rates;
- 1 USD - 0.94 EUR (US Dollar / Euro)
10. Canadian Dollar
The Canadian dollar, the official currency of Canada, the upper neighbor of the United States, is the fifth largest reserve currency in the world. The Canadian Dollar, which has recently lost its value against the US dollar due to the global financial crisis, is one of the 10 most used currencies in world trade.
Currency Code: CAD
Canadian Dollar Rates;
- 1 CAD - 0.74 USD (Canadian Dollar / US Dollar)
- 1 CAD - 0.70 EUR (Canadian Dollar / Euro)
11. Singapore Dollar
Singapore dollar is the official currency of Singapore. Used in both Singapore and Brunei, the Singapore Dollar is one of the strongest currencies in the APAC region (Asia-Pacific) against the US Dollar. The Singapore Dollar is the 13th most traded currency in the foreign exchange market, accounting for approximately 1.8% of daily forex transactions.
Currency Code: SGD
Singapore Dollar Rates;
- 1 SGD - 0.75 USD (Singapore Dollar / US Dollar)
- 1 SGD - 0.70 EUR (Singapore Dollar / Euro)
12. Australian Dollar
The Australian Dollar is used not only in Australia, but also in some pacific island states.
One of the most traded currencies in the world, the Australian Dollar is considered one of the most stable currencies. It is affected by the demand and price of exported goods due to the floating exchange rate and its dependence on exports.
Currency Code: AUD
Australian Dollar Rates;
- 1 AUD - 0.69 USD (Australian Dollar / US Dollar)
- 1 AUD - 0.65 EUR (Australian Dollar / Euro)
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