Highest Currency in the World – It is certain that every country must have a currency. Not only symbolizes identity, but also has its own exchange value. Of the many currencies in the world, which is the highest in the world?
To date, there are 180 currencies recognized by the United Nations (UN). However, what is often traded internationally is the US Dollar (USD). Therefore, the US Dollar is used as a reference to determine the high and low exchange rates.
The Truly Financial website has rounded up the 10 highest currencies in the world. Curious? Come on, see the following discussion!
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Highest Currency in the World
1. Kuwaiti Dinar (KWD)
It cannot be denied that Kuwait is not the largest country. However, the global oil industry has made it the richest country in the world. In fact, his estimated wealth reaches US$ 71.58 billion.
Because of this, the Kuwaiti Dinar is designated as the highest currency in the world. Not surprisingly, 1 KWD has a value equivalent to US$3.30. Fantastic!
2. Bahraini Dinar (BHD)
Just like Kuwait, Bahrain also excels in the petroleum aspect. Therefore, Bahrain is known as an exporter of petroleum, even more than US$ 69 billion.
This further strengthens the fact that 1 BHD is equivalent to US$ 2.65.
3. Omani Rial (OMR)
Not only Kuwait and Bahrain, Oman is also a rich country due to oil exports. In fact, the oil reserves are relatively small.
However, its location in the Persian Gulf makes its oil volume larger and controllable. This contributes greatly to the national currency, which is 1 OMR which is equivalent to US$ 2.60.
4. Jordanian Dinar (JOD)
Unlike the previous three countries, Jordan does not rely on oil. But, come from many sectors.
Instead of oil, trade and mining are the main mainstay aspects. Therefore, Jordan managed to occupy as the country with the fourth highest currency.
Unmitigated, 1 JOD is set to be worth US$ 1.41.
5. Pound Sterling (GBP)
The word "unique" deserves to be pinned for this one currency. Despite being recognized as the official currency of the United Kingdom, the Pound Sterling comes in many forms.
Usually, the naming is adjusted to the name of the region. Call it, like the British Pound Sterling. Uniquely, the currency still has the same exchange rate, namely 1 GBP which is worth US$ 1.34. Interesting right?
6. Cayman Islands Dollar (KYD)
It's no surprise that the Cayman Islands Dollar is the sixth-highest currency. The nickname "tax haven" is often given to the Cayman Islands.
Banking services to insurance are the main sources of this currency's value. Therefore, making 1 KYD can be worth US$ 1.20.
7. Euro (EUR)
Besides the Cayman Islands Dollar, the Euro is also the seventh highest currency in the world. This currency has officially become the currency for the Euro Area. In it, involved 19 of the 27 European countries in the European Union.
Moreover, they are the richest countries in the world. So, don't be surprised that the Euro is consistently one of the highest currencies, which is 1 EUR worth 1.12 US$.
8. Swiss Franc (CHF)
It's no secret that Switzerland has a stable economy. Because of this, the Swiss Franc is popularly dubbed the currency'safe haven'.
As a result, this currency is very reliable with 1 CHF equal to the value of US$1.08.
9. US Dollar (USD)
Everyone seems to be familiar with this currency. Because it is widely used for international trade.
Its important role makes the US Dollar a benchmark for measuring other currencies. Therefore, USD is believed to continue to be in the row of the highest currencies in the world.
10. Canadian Dollar (CAD)
Canada has large crude oil reserves. Not only that. Canada is also known as the second largest uranium supplier in the world.
It has very close relations with the US. Because of this, the currency continues to depend on the value of the USD. Today, 1 CAD is equivalent to US$ 0.79.
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Well, that's the 10 highest currencies in the world. It should be noted that this order will always change. Although it's not significant.
Until now, the Rupiah has not become one of the highest. However, it is possible that this will happen next year. How could that be? Learning about finance can be one way, you know.
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