TOP 10 HIGHEST CURRENCIES IN THE WORLD

In this article, we look at the highest currency in the world. So which currency do you think has the highest value, is it the British Pound? The American Dollar?

Find out below. The exchange rates are pegged against the US Dollar while the value of each currency to the Nigerian Naira is also provided.

Kuwait Dinar
Rank: 1st

Currency code: KWD
1 KWD = 3.29 USD
1 KWD = 1188.57 NGN

As of today, the Kuwait Dinar is the highest currency in the world against the US Dollar. Kuwait is a small Arabian country with enormous wealth. The very high value of this country’s currency is attributed to its significant oil goods exports into the global market.

Bahraini Dinar
Rank:2nd

Currency code: BHD
1 BHD = 2.65 USD
1 BHD = 957.70 NGN

Following the Kuwait Dinar is Bahraini Dinar. This makes the Bahraini Dinar the second highest currency in the world. Bahrain is a Persian Gulf island state with a population of just over a million people.

The biggest source of income for his country is also oil exports. An interesting fact is that the exchange rate for the Bahrain Dinar to the US Dollar has remained unchanged for 14 years already.

Oman Rial
Rank:3rd

Currency code: OMR
1 OMR = 2.60 USD
1 Omr = 937.70 NGN

Next is yet another Arabian Peninsula country. The country has a developed economy and a high quality of life, thanks to its strategic location.

Oman Rial is pegged to US Dollar at a rate very similar to that of the Bahrain Dinar. Due to the very high purchasing power of this currency, the Omani government has had to issue ¼ and ½ Rial paper banknotes.

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Jordan Dinar
Rank:4th

Currency code: JOD
1 JOD = 1.41 USD
1 JOD = 509.32 NGN


The main drive behind the high value of the Jordan Dinar is hard to explain as the country is not economically developed and lacks essential resources such as oil.

Nonetheless, a Jordan Dinar exchanges for 1.41 US Dollar, powering it into this list of top 10 highest currencies in the world.

British Pound Sterling
Rank:5th

Currency code: GBP
1 GBP = 1.26 USD
1 GBP = 467.80 NGN

Contrary to what a lot of people believe, the British Pound Sterling is no the highest currency in the world, in fact, it only manages to be in 5th place. British Colonies issue their own banknotes that are visually different from those issued by the Bank of England, but they exchange at a rate of 1:1.

So, there are several currencies issued by British colonies: Scottish, North Ireland, Manx, Jersey, Guernsey, Gibraltar Pounds, as well as St. Elena Island Pound and Falkland Islands Pound. Interestingly, native Britain is reluctant to accept “other” Pounds as a payment.

Cayman Islands Dollar
Rank:6th

Currency code: KYD
1 KYD = 1.20 USD
1 KYD = 433.87 NGN

Known as one of the best tax havens in the world, the Cayman Islands currency is also of the strongest in the world as of today. These islands provided authority for several hundreds of banks, hedge funds and also insurance companies.

Due to its leadership position among tax havens, the Cayman Islands Dollar exchanges at a rate of 1:1.22 to the US Dollar. So 1 Cayman Island Dollars is equivalent to 1.22 US Dollar.

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European Euro
Rank:7th

Currency Code: EUR
1 EUR = 1.14 USD
1 EUR = 409.25 NGN

Coming in 7th place is the European Euro. This currency has strengthened over the past few years powering into 7th place on this list. The strength of the Euro is measured against the fact that it is the official world currency of European countries among which are several economically developed countries.

Also, the Euro is the second reserve world currency enveloping about 22.2% of all world savings (US Dollar has 62.3%).

Swiss Franc
Rank:8th

Currency code: CHF
1 CHF = 1.04 USD
1 CHF = 360.34 NGN

Switzerland is widely known as one of the richest countries in the world. It is also one of the most stable and its banking system is known for its resolute “Bank Secrecy”. Also, the country’s high-tech goods are famous all over the world.

US Dollar
Rank: 9th

Currency code: USD
1 USD = 361 NGN

Coming in at 9th place is the US Dollar, surprised? Don’t be. The US Dollar is only the 9th strongest currency in the world. Due to America’s world economic leadership, its currency was adopted as “World Reserve Currency”.

This simply means you can make dollar payments everywhere (in any country). That’s the reason why this currency is so popular even though it’s not the strongest in the world.

Canadian dollar
Rank: 10th

Currency code: CAD
1 CAD = 0.75 USD
1 CAD = 271.11

Closing this list is the currency of US’s next door neighbor, Canada. With the exchange rate current pegged at ¾ of the US Dollar, the Canadian Dollar ranks as the 10th highest currency in the world.

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The Canadian dollar is also the 5th largest reserve world currency. The Canadian dollar is often called the “loonie” in honor of the bird depicted on the Canadian 1 Dollar coin.

Conclusion

These are the top 10 Highest currencies in the world currently. This list is not constant due to the changing economies of countries. Some countries featured on this list last year and have dropped out.

There is a possibility of them returning when their economy improves which is why this list will be constantly updated but for now, these are the highest currencies in the world.

British Colonies issue their own banknotes that are visually different from those issued by the Bank of England, but they exchange at a rate of 1:1.

So, there are several currencies issued by British colonies: Scottish, North Ireland, Manx, Jersey, Guernsey, Gibraltar Pounds, as well as St. Elena Island Pound and Falkland Islands Pound. Interestingly, native Britain is reluctant to accept “other” Pounds as a payment.

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