Review of the best according to the editorial board. On the selection criteria. This material is subjective, does not constitute advertising and does not serve as a purchase guide. Before buying, you need to consult with a specialist.
Many people mistakenly consider the US dollar or the British pound to be the strongest and most expensive currency in the world. But, as time and practice show, this is far from the case. There is one feature that should be taken into account and only after that talk about the importance of a particular currency. This is its cost. Your attention is the rating of the most 'powerful' currencies on the planet.
About the value of currencies
If we were talking about purchasing a significant amount of money, what currency would you prefer – the one that is heard or the one whose purchasing power is higher? The second option is the correct answer. Why is it so? It's simple: you cannot evaluate the significance of a currency unit based on the economic indicators of a country (the first and the second are not always interconnected).
Japan is a prime example. The Land of the Rising Sun is one of the world leaders in terms of industry, the amount of GDP per capita and the undisputed ancestor of modern robotics. And what are the Japanese cars. But still. The value of the Japanese yen is far from what could bring it closer to the rating of the most expensive: 1 JPY is equal to 0.01 USD.
It is also important to consider the rate of inflation. In the same Japan, it is not high, respectively, the value of the national currency is generally stable. This means that the yen can confidently be considered a strong currency, but not the most expensive.
The most expensive currencies in the world
|Nomination||a place||currency name||Rate to USD|
|The most expensive currencies in the world||1||Kuwaiti dinar||1 KWD = 3.29 USD|
|2||Bahraini dinar||1 BHD = 2.65 USD|
|3||Omani rial||1 OMR = 2.60 USD|
|4||Jordan dinar||1 JOD = 1.41 USD|
|5||British pound||1 GBP = 1.23 USD|
|6||Cayman Islands dollar||1 KYD = 1.20 USD|
|7||European Euro||1 EUR = 1.10 USD|
|8||Swiss frank||1 CHF = 1.00 USD|
|9||American dollar||1 USD = 1.00 USD|
|10||Canadian dollar||1 CAD = 0.75 USD|
- 1 KWD = 3.29 USD
- 1 KWD = 2.13 RUB
At the moment, it is the Kuwaiti dinar that is the most expensive currency on the planet. It is noteworthy that this picture has been observed for more than one year: for about two decades, the national currency of Kuwait has held the lead among all currencies in the world. Not the least role in this was played by the country's special economy, which is developing at a powerful pace (primarily due to the export of a significant amount of oil).
It is noteworthy that Kuwait is a tiny country and inconspicuous from many points of view. And yet it is one of the most rapidly developing countries not only in the Arabian Peninsula, but in the whole world. Some analysts estimate that it contains nearly 10% of the world's oil reserves. Kuwait is also included in the ranking of the richest countries on the planet: it ranks 7th among the states with the highest GDP per capita.
- 1 BHD = 2.65 USD
- 1 BHD = 171.5 RUB
Another country with a modest size and the same small population (no more than 1 million inhabitants). What can not be said about its potential: thanks to the significant oil reserves discovered not so long ago, the island of Bahrain was among the richest countries in the world. Accordingly, a significant part of the country's income is formed from the export of black gold.
In addition, there is a US naval base here, which means that the country is in very close contact with the United States. And economically, including: The Bahraini dinar is firmly tied to the US dollar: for almost 15 years its value has remained practically unchanged – this is a very expensive currency.
Interesting fact: before becoming one of the oil countries, Bahrain was considered a valuable supplier of pearls (this industry was one of the main ones). But with the onset of the 30s of the 20th century, everything changed – the mining of the stone was stopped, since Japan began its rapid cultivation.
- 1 OMR = 2.60 USD
- 1 OMR = 168 RUB
This representative of the Arabian Peninsula is strategically located. It is this (and the production of a colossal amount of oil, of course) that allowed the country to reach a new level of economic development. It also managed to significantly improve the standard of living of its citizens: Oman is one of the few who can boast of the absence of unemployment and homelessness.
Unfortunately, in recent years there has been a tendency for a rapid decline in oil reserves. The government of Oman has decided to diversify profitable areas: the main focus will now be not on oil production, but on the development of metallurgy, gas industry and tourism.
It is noteworthy that the value of the national Omani currency is so high that it is issued in a meager denomination: instead of the usual bargaining chip, which is 1/100 of the state currency, the so-called 'baiza' is used. This modest coin is no less than 1/1000 of the Omani rial.
- 1 JOD = 1.41 USD
- 1 JOD = 1.39 RUB
Some analysts cannot clearly explain why the value of the national currency of Jordan was so high, given the slowly developing economy. Almost the entire territory of this Arab country is desert: only 10% of Jordan is inhabited. Basically, the entire population is concentrated in 3 large cities – Amman (capital), Irbid and Madaba.
Unfortunately, the state cannot boast of an abundance of some strategically important resources (oil among them). Moreover, the country is forced to export energy, which makes it largely dependent on its neighbors and the IMF. In addition, Jordan has an impressive external debt. But all this did not prevent its national currency from remaining invariably 'strong' and expensive: it is not the first year that the cost of one Jordanian dinar is $ 1.41 and this rate is fixed.
- 1 GBP = 1.23 USD
- 1 GBP = 79.75 RUB
The British pound, or, more precisely, the pound sterling, is mistakenly considered by some to be one of the most powerful currencies: in fact, it is expensive, but not enough to make it into the top three currencies – world leaders in value. The pound sterling is the currency of payment not only for British territory, but also for the crown lands (Guernsey, Jersey, Isle of Man). In addition, the pound can be used as legal tender in the colonial territory of the country: the Falkland Islands, Saint Helena, Gibraltar, etc.
Of course, many British colonies have their own currency, but one condition remains unchanged: its exchange rate is always pegged to the pound sterling in a 1: 1 ratio. A funny (or maybe not so) fact: the native people of Great Britain are not particularly willing to accept any pounds as a payment currency, except for the 'main' one.
Recently, the country began issuing new polymer-type banknotes. Unlike paper ones, they have a longer service life and do not lose their original appearance (they are not affected by moisture and any contamination).
Cayman Islands dollar
- 1 KYD = 1.20 USD
- 1 KYD = 77.56 RUB
Until 1972, the Jamaican dollar was used as the official tender on the island. But everything changed after the introduction of the new currency. At first glance, it may seem strange: why the currency of such a tiny and unremarkable state was in the ranking of the most expensive. But everything falls into place when you learn about the purposes for which many countries use the Cayman Islands. It is the world's largest offshore center.
The state is a real tax haven for hundreds of different banks, funds, insurance companies and any other financial organizations. It is for this reason that the Cayman Islands can not only compete with the American dollar, but also press it in value.
- 1 EUR = 1.10 USD
- 1 EUR = 71.00 RUB
The youngest currency among the expensive ones presented in the rating. Launched in 2002, the euro quickly became the national currency for 19 European countries – members of the so-called 'eurozone' that are part of the European Union. Although the euro ranks only 6th among the most expensive currencies in the world, it is ranked second in terms of the state reserve with a figure of 25% (the USA takes the lead).
As of August 2018, the sum of all banknotes and coins currently in circulation exceeded 1.2 trillion. Euro. By the way, just a few years ago (in 2011) the euro took the leading position in the world in terms of the volume of cash in circulation. But the American dollar was able to quickly regain its leadership back.
An interesting fact: in addition to the EU member states, another 22 states (mostly African) also pegged their national currencies to the euro at a fixed rate.
- 1 CHF = 1.00 USD
- 1 CHF = 64.92 RUB
The Swiss franc is one of the oldest, most stable and expensive currencies in the world. It is used as a means of payment not only in Switzerland, but also in Liechtenstein. By the way, the currency is the only one in Europe called the franc.
It is unbelievable, but true: all banks in the country have introduced a negative interest rate on deposit accounts. And this, in turn, means that if you want to keep your money in Switzerland, you will not see any profit, you will even have to pay extra for this pleasure.
Such an unusual decision was made by the country's Central Bank for one single reason: after the abolition of the euro-fixed rate, the franc began to strengthen too rapidly.
An interesting fact: the Swiss currency has an unusual appearance – the pattern on the banknotes is located not in the usual horizontal position, but vertically.
- 1 USD = 1.00 USD
- 1 USD = 64.66 RUB
The national currency of America occupies the penultimate position in the ranking of the most expensive in the world and at the same time is the main reserve currency of the planet, which is quite unusual. On the other hand, it is easy to explain why the dollar has become the main currency for storing the reserves of most countries: the 'Stars and Stripes' economy is actually considered the strongest in the world.
Interesting fact: more than 2/3 of all dollar bills are in circulation outside their 'homeland'.
The number of American dollars used in the world is replenished by 25 million copies every day: thus, every day the turnover of the American currency in the world increases by almost 650 million dollars. By the way, earlier all over the world, large denomination bills of 5, 10 and even 100 thousand were actively used. Today in circulation you can find only 1, 2, 5, 10, 20, 50 and 100-dollar money.
- 1 CAD = 0.75 USD
- 1 CAD = 43.78 RUB
Closes our ten most expensive currencies in the world, the national currency of Canada. This country is considered one of the richest when it comes to oil reserves: about 13% of the world's black gold reserves are concentrated on its territory. By the way, the main consumer of Canadian oil is none other than the United States. Unsurprisingly, the value of the Canadian dollar is closely tied to the price of oil on the world market. The American economy and the US dollar, respectively, have a significant impact on the fluctuation of the national Canadian currency.
In 2011, the country's government decided to keep up with the EU countries, and, following the example of the European currency, initiated the release of polymer dollar banknotes. Recently, Canada has been using a floating exchange rate regime, which allows the Canadian dollar to adjust to the global foreign exchange market. By the way, the Canadian dollar ranks 5th in the world in terms of its reserves.
Attention! This rating is subjective and does not constitute an advertisement and does not serve as a purchase guide. Before buying, you need to consult with a specialist.