The US Dollar is viewed as the strongest and most-traded currency in the world. However, it is not the most expensive currency in the world. There are 9 currencies which are of a higher value than the US Dollar.
In this article, we will take a look at the Top 10 Highest Currencies in the World, and their current value.
1. Kuwaiti Dinar (KWD)
Current Value of 1 Kuwaiti Dinar: 270.75 Indian Rupee
The Kuwaiti Dinar (KWD) is regarded as the highest-value currency in the world. KWD owes its high value to Kuwait’s economic strength and stability. Kuwait’s economy primarily relies on oil exports since it is home to one of the world’s largest reserves of oil. Kuwait follows a tax-free system, which means that no taxes are imposed on the working individuals in the country.
2. Bahraini Dinar (BHD)
Current Value of 1 Bahraini Dinar: 221.08 Indian Rupee
At present, Bahraini Dinar (BHD) is the second highest-value currency in the world. The Middle East island country of Bahrain is situated in the Persian Gulf. Just like Kuwait, Bahrain is heavily reliant on oil export.
3. Omani Rial (OMR)
Current Value of 1 Omani Rial: 216.50 Indian Rupee
The third highest-value currency in the world is Omani Rial. Oman is situated on the southeastern coast of Arabian Peninsula. It is a major exporter of two of the world’s most valuable commodities i.e., oil and gas.
Oman has a low-inflation rate which is another reason why the Omani Rial can maintain its value.
4. Jordanian Dinar (JOD)
Current Value of 1 Jordanian Dinar: 117.61 Indian Rupee
Jordan borders Egypt, Syria, Iraq and Saudi Arabia. Compared to its neighbors, Jordan is not heavily reliant on export of oil and gas. Jordan has a relatively diversified economy which makes it less susceptible to fluctuations in the global oil market.
5. British Pound (GBP)
Current Value of 1 British Pound: 104.32 Indian Rupee
The Great British Pound (GBP) is the world’s oldest currency that is still in use. The pound coin first appeared in 1489, during the rule of the English King Henry VII. GBP’s history is as rich as the iconic British Empire, and it was once the world’s most powerful currency. However, in the 20th century, it lost that esteemed title when Britain became a part of the two world wars, and the USA became a superpower.
The UK is the world’s 6th largest economy by GDP and has a diversified economy with a strong services sector. UK democracy has a long history of political stability. Due to these factors, GBP is the 5th highest-value currency in the world.
6. Gibraltar Pound (GIP)
Current Value of 1 Gibraltar Pound: 104.32 Indian Rupee
The Gibraltar Pound was introduced in the form of British coins and banknotes in the year of 1898. Gibraltar is a British Overseas Territory and the Gibraltar pound is its official currency. One GIP equals one GBP, which makes the former as the only currency that is pegged to the British pound. Gibraltar is a hub of oil mines, tourism, services, e-gaming and various financial services. All these are the economic sources which have strengthened this currency.
7. Cayman Islands Dollar (KYD)
Current Value of 1 Cayman Islands Dollar: 100.07 Indian Rupee
The Cayman Islands (British Overseas Territory), consisting of Grand Cayman, Little Cayman, and Cayman Brac, has the world’s 7th highest-value currency i.e., Cayman Islands Dollar.
Until 1972, the Jamaican Dollar was in use but then the Cayman Islands Dollar became the official currency. The Cayman Islands government holds a strong financial position and is able to repay its debt due to which it has a low debt-to-GDP ratio.
8. Swiss Franc (CHF)
Current Value of 1 Swiss Franc: 91.49 Indian Rupee
The official currency of Switzerland is Swiss Franc, which is the 8th strongest currency in the world (at the time this blog was published). Switzerland is a politically stable nation which has historically maintained a neutral stance in major wars.
The Swiss economy is considered a strong economy due to low unemployment and inflation rate. Swiss Franc has earned the title of a ‘safe haven’ currency due to its robust and stable nature.
9. Euro (EUR)
Current Value of 1 Euro: 89.49 Indian Rupee
Euro is the 9th highest-value currency in the world. It is the second most-traded currency in the world next to the US dollar.
Euro can be used in 20 European Union countries, namely: Austria, Belgium, Croatia, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia and Spain.
10. US Dollar (USD)
Current Value of 1 US Dollar: 83.33 Indian Rupee
The United States of America is the largest economy in the world by GDP. The US Dollar is the most used currency in the world, in reserve as well as circulation, and dominates global trade and finance.
The US Dollar is legal tender not only in the USA but also other U.S. territories and sovereign nations such as Zimbabwe, Lebanon, Puerto Rico and El Salvador.
Disclaimer: The currency values are subject to change. We have mentioned the currency values as per the latest data available as of April 26, 2024.