Most Expensive Currencies in The World 2019
When you think of the most expensive currencies in the world 2019, you would think of the US Dollar or British Pound or Euro. But you are in for a surprise. The most expensive currencies of 2019 are none of the mentioned ones. And they don’t always belong to the wealthiest nations of the world. The ‘Highest Currency’ is based on the high value of them when exchanged with INR. US Dollar may not be the most expensive currencies in the world 2019 but it is the most traded and strongest currency in the world.
1. Kuwait Dinar (1 KWD = 3.29 USD)
- Currency code – KWD
- 1 KWD = 3.29 USD
Kuwait Dinar is the highest world currency against the US Dollar.
Kuwait is a small country with enormous wealth. The highest value (rate) of its currency is explained by significant oil goods exports into the global market.
2. Bahraini Dinar (2.65 USD)
- Currency code – BHD
- 1 BHD = 2.65 USD (pegged to dollar)
Bahrain Dinar is the second most valuable currency.
Bahrain is the Persian Gulf island state with a population of a little more than 1 million people. As in the first case, this country’s largest income is the “black gold” exports.
It is interesting that Bahrain Dinar is pegged to the US Dollar exchange rate, and its rate against the US Dollar has remained the same for 14 years already.
3. Oman Rial (2.60 USD)
- Currency code – OMR
- 1 OMR = 2.60 USD (pegged to dollar)
Oman is the Arabian Peninsula country. Thanks to its strategic location, it posses a developed economy and high life quality.
Oman Rial is also pegged to US Dollars as Bahrain Dinar.
It is remarkable that the purchasing power of this currency is so high that the government has to issue 1/4 and 1/2 Rial paper banknotes. On the picture above, you can see 1/2 Rial (Half Rial).
4. Jordan Dinar (1.41 USD)
- Currency code – JOD
- 1 JOD = 1.41 USD (pegged to dollar)
It is hard to explain the high value of Jordan Dinar. This country is not economically developed and it lacks essential resources, such as oil. Never the less, one Jordan Dinar costs 1.41 US dollars, which makes it one of 10 the most powerful world currencies.
5. British Pound Sterling (1.26 USD)
- Currency code – GBP
- 1 GBP = 1.26 USD
Most people think that British Pound is the strongest world currency, but it only closes the top five of this list.
British Colonies issue its own banknotes, which 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 Falkland Islands Pound.
Amusingly, native Britain does not always want to accept “other” Pounds as a payment.
6. Cayman Islands Dollar (1.20 USD)
- Currency code – KYD
- 1 KYD = 1.20 USD (pegged to dollar)
The Cayman Islands is one of the best world tax havens. These islands provided authority for hundreds of banks, hedge funds, and insurance companies.
Thanks to its leadership among tax havens, Cayman Islands Dollar costs near 1.22 US dollars.
7. European Euro (1.14 USD)
- Currency Code – EUR
- 1 EUR = 1.14 USD
The euro currency has strengthened over the past few years. This allowed it to raise the list of the most powerful currencies. 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.
Besides, Euro is the second reserve world currency enveloping 22.2% of all world savings (US Dollar has 62.3%).
8. Swiss Franc (1.04 USD)
- Currency code – CHF
- 1 CHF = 1.04 USD
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”.
Besides, its high-tech goods are very well known all around the globe.
Pay attention when you see the origin of this banknote. This is the only banknote I saw which has a vertical view.
9. US Dollar
- Currency code – USD
- 1 USD = 1.00 USD
Owing to the USA’s 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).
10. Canadian dollar (0.75 USD)
- Currency code – CAD
- 1 CAD = 0.75 USD
The Canadian dollar is the fifth largest reserve world currency. Canadian dollar is often called the “loonie” in honor of the bird depicted on the coin worth 1 dollar.
Out of TEN
Due to dynamically changing economic and political situations in the world, it is hard for some currencies to remain in this ranking, so here is the list of currencies that left the top ten for previous periods.
1. Australian dollar
- Currency code – AUD
- 1 AUD = 0.73 USD
An interesting fact is that the new series of Australia banknotes, as on the picture above, would have a tactile feature (Braille) to help the visually impaired community to tell the value of the banknote.
Also in Australia, the fight against cash is conducted by reducing the share of cash payments when making small retail purchases.
2. Libyan Dinar
- Currency code – LYD
- 1 LUD = 0.72 USD
Libyan Dinar has token money called Dirham. It is interesting that one Dinar is equal 1000 Dirham, and not 100 as we all used to think.
3. Azerbaijani manat
- Currency code – AZN
- 1 AZN = 0.59 USD
It was a surprise to see Azerbaijani manat in this list. However, the currency of this Near East country is a little bit weaker than US Dollar.
The economy of this country is surprisingly strong, and its unemployment rate is low.