What is the most expensive currency? Top 10 most valuable currencies in the world

Question

If you have ever wondered why one currency is worth more than another, the answer lies in the economy of the country. Let's take a look at the most valuable currencies on the planet.

Leaders by exchange rate to the dollar

1. Kuwaiti Dinar (KWD) — 3.26 USD Well, here it is, a small country in the Persian Gulf holds the golden belt of the world currency system. The reason is simple — oil. Kuwait sits on a sea of black gold, which is why the dinar has remained the king of currencies for decades.

2. Bahraini Dinar (BHD) — 2.65 USD Also an oil economy, but slightly weaker than Kuwait. Bahrain is also the financial hub of the Middle East, so the dinar remains stable.

3. Omani Rial (OMR) — 2.60 USD Oman has been pegged to the dollar since 1986 and has no plans to let go. Stability is the motto of this currency.

4. Jordanian Dinar (JOD) — 1.41 USD Another dinar, another peg to the dollar. This is a trend in the Middle East.

5. British Pound (GBP) — 1.27 USD The pound is a legend. The United Kingdom is still one of the largest economies in the world, which is why its currency remains at the top.

6. Cayman Dollar (KYD) — 1.20 USD A small island, big money. The Cayman Islands are an offshore paradise that has built a reputation as a reliable financial center.

7. Euro (EUR) — 1.10 USD The magnificent seven European countries support the euro with strictness. The main reserve currency alongside the dollar.

8. Swiss Franc (CHF) — 1.08 USD Switzerland is not a member of the EU, but its franc is a synonym for stability and reliability. Investors trust the Swiss.

9. American dollar (USD) — 1 USD The king of kings. Any currency is measured in dollars, so this is the starting point.

10. Canadian Dollar (CAD) — 0.75 USD North American hydrocarbons trader. Gold, oil, gas — these are the foundation of the Canadian dollar.

Why does the price of a currency matter?

A high exchange rate reflects the economic power of a country, but it does not mean that life there is more expensive. You can buy a bun in Kuwait cheaper than in London, even though the dinar is worth more than the pound. The effectiveness of a currency is not only its exchange rate but also how much it can buy.

Main conclusion: if the currency is expensive, it means that the country is either rich in natural resources, or has a strong economy, or both at the same time.