10 Most Valuable currencies of the world
This list is ranked as per their value against Dollar. Most valuable currency doesn’t necessarily mean that the currency is better investment option or that it represents a better economic health of a nation. Also, the value of currencies, and the ranking, might change over the time and may be different at the time of reading this post.
10. Cayman Islands Dollar
1KYD= 1.21 USD
With no direct taxation, the islands thrive as an offshore financial center, with hundreds of banks, insurers and mutual funds. One Cayman Islands Dollar equals $1.21 US.
9. Jordanian Dinar
Jordan may lack water and crude oil but the Mideast kingdom has one thing going for it – a strong currency.
Officially introduced in 1999, the multinational Euro didn’t begin changing hands until January 2001. After a rocky start, the Euro has gained on the dollar for years.
7. UK Pound Sterling
This holiday season, it seems now more than ever, citizens of the UK are taking advantage of their favorable exchange rate and coming to the US, where for them everything is half-off.
6. Latvian Lats* (not in use anymore)
1 LVL= 2.135 USD
One Lats is currently worth $2.135 US. The country, about the size of West Virginia.
5. Cyproit Pound
1 CYP= 1.60 USD
With the small island nation relying heavily on tourism, one wonders whether people would be more willingly loosen their wallets if it wasn’t the home of the world’s fifth most valuable currency
4. Omani Rial
1 OMR = 2.60 USD
Oman, a country on the east coast of Africa, has had its currency exchange rate pegged to the dollar at a rate of 1 OMR = $2.60 US since 1986. With that pegged relationship holding firm, seems as though the Rial’s fate remains tied to the fate of the dollar.
3. Bahraini Dinar
A small island nation, approximately 3.5 times the size of Washington DC, Bahrain is geographically central in relation to its Persian Gulf neighbors. Its industry relies on petroleum production and refining, as well as financial services and construction. With an exchange rate to the US dollar at around $2.66 for one Bahraini Dinar, it’s the third most valuable currency in the world. It’s also expected to be relatively steady, as it was officially pegged to the dollar in 2001.
2. Maltese Lira
The small island country, which is approximately twice the size of Washington DC, is home to the second most valuable currency, but not for much longer.
1. Kuwaiti Dinar
In an area slightly smaller than New Jersey, lies the home of the world’s most valuable currency. Kuwait has been involved in talks this year with five other Gulf Arab monarchies to form a single currency. The Kuwait currency is currently pegged to the dollar.