Top 5 Most Valuable Currencies in the World
Top 5 Most Valuable Currencies in the World
1. Kuwaiti Dinar (KWD)
2. Bahraini Dinar (BHD)
3. Omani Rial (OMR)
4. British Pound (GBP)
5. Euro (EUR)
1. Kuwaiti Dinar (KWD)
One Kuwaiti dinar buys US$3.31
An oil rich country located in the middle-east, Kuwait has the highest valued currency in the world currently. The currency is called Kuwait Dinar and for exchanging a single Dinar you’ll get 3.6 Dollars or around 250 INR.
The Kuwaiti dinar is another currency that benefits from crude oil, yet its history is a tangled mess. The currency first came online in 1961, valued at 1:13.33 against the Indian rupee, then went on to be measured against a basket of other currencies. Kuwait momentarily adopted the Iraqi dinar during the Gulf War, and later pegged the Kuwaiti dinar to the U.S. dollar. However, it’s been free-floating since 2007. In 2013, it became the most expensive currency in the world and it still stands in that spot.
2. Bahraini Dinar (BHD)
One Bahraini dinar buys US$2.65
Many would be surprised to see Bahrain in the list but Bahraini Dinar is the second most valued currency in the world. For every Bahraini Dinar exchanged you get up to 3.46 dollars or 230 INR. (The currency exchange rates fluctuate a lot)
The Bahraini dinar is certainly buoyant because of its ties to Saudi Arabia and the oil market, but it has one additional factor in its column: Bahrain is the home of an American naval base that is crucial to U.S. influence in the region. Its strategic importance gives the Kingdom of Bahrain an outsized role in foreign affairs, which has cemented its currency’s costly stature.
3. Omani Rial (OMR)
One Omani rial buys US$2.59
Another Middle-Eastern country with high valued currency. For every Omani Rial exchanged you get around 2.57 Dollars or around 176 INR.
The Middle East has been in a bind since oil prices collapsed in the summer of 2014. Quite frankly, the real issues began when oil prices were above $100.00 a barrel, giving U.S. extractors the margins to fully develop shale technology. The resulting oversupply has decimated the crude oil market, but even so, the Omani rial is still outrageously expensive at $2.59.
4. British Pound (GBP)
One British pound buys US$1.27
Now this name won’t surprise many. An erstwhile world power who still holds a sway in the world has a very useful and high valued currency. One British pound when exchanged gives you around 1.27 Dollar which is around 90INR
Despite tumbling significantly after the “Brexit” vote, the British pound remains relatively expensive for Americans. It looks like poaching Mark Carney (formerly of the Bank of Canada head) to run the Bank of England was a great idea for the pound. Just like the euro, it wouldn’t shock us if the British pound drops in the list of the most expensive currencies during 2017.
5. Euro (EUR)
One euro buys US$1.11
A surprise entry in this list. This Eastern European country is not often in news?good or bad. But having the Latvian Lats is beneficial. Exchanging one Lats will give you around 1.11 Dollars which is around 104 INR.
Despite its terribly dysfunctional economic and political systems, Europe still managed to keep the euro above the U.S. dollar. It remains one of the most expensive currencies on the planet, which is tragic for anyone who likes visiting Rome or Paris. With the European Central Bank (ECB) implementing a negative interest rate policy and being involved in quantitative easing, we are expecting the euro to slide down the list during 2017
| Rank | Country Name | Currency Name |
| 1 | Kuwait | Kuwaiti Dinar (KWD) |
| 2 | Bahrain | Bahraini Dinar (BHD) |
| 3 | Oman | Omani Rial (OMR) |
| 4 | United Kingdom | British Pound (GBP) |
| 5 | European Union | Euro (EUR) |
0 comments: