Currencies are such a genuine factor in any country, and the fluctuation of currencies is really enough to give a mini heart attack to anyone. Ever you have thought about the highest currency in the world? Yes! you might think about BP, the US dollar, or EURO. You are wrong, the highly valued currency is Kuwait Dinar.
Here is the list of the highest Currencies in the World in 2022:
10. Canadian Dollar
1 CAD = 0.73 USD
The Canadian dollar ends at the top ten of this list. Canada has the second largest uranium supply in the world along with crude oil of 13.21%. The Canadian Dollar depends on global oil price fluctuations in the neighboring US importer.
9. US Dollar
1 USD = 1.02 EUR
The US Dollar got the US economic leadership. It has such high demand and also gets involved in more than 85% of daily forex trades. There is 70% of banknotes, however, also circulate outside of the US.
8. Swiss Franc
1 CHF = 1.00 USD
The Swiss Franc is one of the strongest and most stable currencies in the world. It’s quite natural as Switzerland is one of the richest countries in the world. Switzerland holds strict monetary policy and low debt levels that makes Franc very safe to bet on for investors.
7. European Euro
1 EUR = 0.98 USD
The Euro recently extended over the years which has allowed it to hold a strong place in this list of the most powerful world currencies. The EUR is the second reserve currency getting enveloped 25% of all the world savings.
6. British Pound Sterling
1 GBP = 1.12 USD
British Pound holds the highest monetary value among other currencies. But it is not the case. Its rate against the US dollar puts GBP only in the 6th position among the highest currencies. Though, it is still the oldest in circulation and one of the most traded currencies in the world. The GBP/USD pair, commonly known as “the cable,” is the third most traded in the forex market.
5. Cayman Islands Dollar
1 KYD = 1.22 USD
The Cayman Islands Dollar is the only Caribbean currency on the list of the highest ones. The reason is that this autonomous British territory is one of the world’s best tax havens and one of the five largest offshore financial centers. The country provides licenses for hundreds of banks, hedge funds, and insurance companies.
4. Jordanian Dinar
1 JOD = 1.41 USD
The Jordanian Dinar was first pegged to the US Dollar at a higher value. For the last 20 years, the country managed to maintain this peg. So today, the Dinar has 4th place on the list of the most expensive currencies. The country is not economically developed, and it lacks essential resources, such as oil. Jordan has significant external debt, so it is highly dependent on neighboring countries and the IMF.
3 . Omani Rial
1 OMR = 2.60 USD
The Omani Rial ends in the top three most expensive currencies in the world with a conversion rate of 2.60 USD to one Rial nearly double the value of the British Pound. This currency has been pegged to the US Dollar since 1973. Along with the other countries on the Arabian Peninsula, Oman has a developed economy and a high quality of life thanks to oil production.
2. Bahraini Dinar
1 BHD = 2.66 USD
Bahraini Dinar is the world’s second most valuable currency. There is a conversion rate of $2.66 per one Dinar. Before Bahrain became one of the leading oil-producing countries, the major profit-gaining industry here was pearl mining. However, in the 190th the production ceased due to pearl cultivation in Japan.
1. Kuwaiti Dinar
1 KWD = 3.22 USD
Kuwaiti Dinar is the highest-valued currency in the world. The currency has been estimated at $3.22 per Dinar. Such a high value is explained by Kuwait’s stable economy and significant oil exports into the global market, producing almost 95% of the country’s revenue. According to the estimates, about 9% of the global oil reserves are located on its territory. Petroleum production here is the easiest and, therefore, the cheapest among other countries.