Highest Currency in The World 2024 | Top 10 Highest Currency in the World 2024 | Highest Currency 2024

Some currencies are so powerful that if they crash, they will cause severe economic disruption around the world. The value of a currency reflects the strength and stability of a country’s legal tender. The currencies of highly successful countries tend to rise in value. The high value of the currency means that inflationary processes in the country are under control. The popularity of a currency does not guarantee its high value. The economic dominance of a nation also does not guarantee that its currency will be the strongest.

The country that holds the best currency in the world is expected to have a healthy economic environment. These conditions, among many, strengthen its currency. Over time, the world has adopted certain currency denominations and prefers to use them for transactions. Each country’s central bank is doing its best to stabilize the inflationary pressures of its currency. For this, the institution uses fiscal and monetary policies. However, the forces of supply and demand always outweigh such policies by establishing a certain value for the respective currency.

Here are the 20 highest world currencies in 2024.

RankCurrencyCompared to USD
1Kuwaiti dinar (KWD)1 US dollar = 0.30 KWD
2Bahraini Dinar (BHD)1 US dollar = 0.38 BHD
3Omani rial (OMR)1 US dollar = 0.38 OMR
4Jordanian dinar (JOD)1 US dollar = 0.71 dinars
5British Pound Sterling (GBP)1 US dollar = 0.72 pounds
6Falkland Islands Pound (FKP)1 US dollar = 0.72 pounds
7Gibraltar Pound (GIP)1 US dollar = 0.72 GIP
8Saint Helena Pound (SHP)1 US dollar = 0.72 SHP
9Cayman Islands Dollar (KYD)1 US dollar = 0.83 KYD
10European Euro (EUR)1 US dollar = 0.85 euros
11Swiss franc (CHF)1 US dollar = 0.92 CHF
12US dollar (USD)1 USD = 1.00 USD
13Bahamian dollar (BSD)1 US dollar = 1.00 BSD
14Bermuda dollar (BMD)1 US dollar = 1.00 BMD
15Panama Balboa (PAB)1 US dollar = 1.00 PAB
16Canadian dollar (CAD)1 US dollar = 1.25 CAD
17Brunei Dollar (BND)1 US dollar = 1.36 BND
18Singapore dollar (SGD)1 US dollar = 1.36 SGD
19Australian dollar (AUD)1 US dollar = 1.36 Australian dollars
20New Zealand dollar (NZD)1 US dollar = 1.42 New Zealand dollars

1 – Kuwait Dinar ($ 3.32)

Currency code: KWD .

Kuwaiti dinar rate: 1 KWD = 3.32 USD (Kuwaiti dinar to dollar).

Kuwaiti dinar Currency
Kuwaiti dinar Currency

The most expensive currency in the world is the Kuwaiti dinar (in relation to the dollar).

Why is the Kuwaiti dinar so expensive

Kuwait is a small country with immense wealth. The high value of its currency is explained by the significant export of petroleum products to the world market.

With a stable economy and a highly developed oil production and export industry, Kuwait is considered one of the richest countries in the world.

More than 80% of the country’s income comes precisely from the oil industry, since the extraction of black gold here is the easiest and, accordingly, the cheapest in comparison with other countries.

Until 2003, the Kuwaiti dinar was pegged to the dollar, but in 2007 the government decided to peg it to a multicurrency basket.

Apart from a very stable economy, Kuwait is a country with almost no taxes and a very low unemployment rate.

 

2 – Bahrain Dinar ($ 2.66)

Currency code:  BHD .

Bahraini dinar rate: 1 BHD = 2.66 USD (Bahraini dinar to dollar).

Bahrain Dinar Currency
Bahrain Dinar Currency

The Bahraini dinar is the second most valuable currency in the world.

Bahrain is an island state in the Persian Gulf with a population of just over 1 million. As in the first case, the main source of income of this country is the export of black gold.

Interestingly, the Bahraini dinar is pegged to the dollar exchange rate, and for 14 years its value has not changed against the dollar.

 

3 – Oman Rial ($ 2.60)

Currency code:  OMR .

Omani rial exchange rate: 1 OMR = 2.60 USD (Omani rial to dollar).

Oman Rial Currency
Oman Rial Currency

Oman is a country on the Arabian Peninsula. Due to its strategic location, it enjoys a developed economy and a high standard of living.

The Omani rial, like the Bahraini dinar, is pegged to the dollar.

Interestingly, the purchasing power of this currency is so high that the government has to issue paper notes in 1/2 and 1/4 rial denominations. In the picture above, you can see 1/2 rial.

 

4 – Jordanian Dinar ($ 1.41)

The currency code is:  JOD .

The rate of the Jordanian dinar: 1 JOD = 1.41 USD (Jordanian dinar to the dollar).

Jordanian Dinar Currency
Jordanian Dinar Currency

It is rather difficult to explain the high cost of the Jordanian dinar, since the country is not particularly developed economically, and it lacks important resources such as oil. However, 1 Jordanian dinar costs around $ 1.41, making it one of the 10 most expensive currencies in the world .

 

5 – British Pound ($ 1.38)

Currency code: GBP .

British pound rate: 1 GBP = 1.38 USD (British pound against the dollar).

British Pound Currency
British Pound Currency

It is the British pound that everyone considers the most expensive currency in the world, but, as it turns out, it is only in 5th place.

By the way, the British colonies issue their own bills, which are visually different from the bills issued by the Bank of England, but are quoted 1 to 1.

So, there are also: Scottish, Northern Irish, Manx, Jersey, Guernsey, Gibraltar pounds, as well as the St. Helena pound and the Falkland Islands pound.

Funnily enough, native Britons don’t always want to accept “other” pounds as payment.

 

6 – Cayman Islands Dollar ($ 1.22)

Currency code: KYD .

Cayman Islands dollar rate: 1 KYD = 1.22 USD (Cayman Islands dollar to US dollar).

Cayman Islands Dollar Currency
Cayman Islands Dollar Currency

The Cayman Islands are one of the world’s top tax havens. These islands have provided power to hundreds of banks, hedge funds and insurance companies.

In particular, due to its leadership in tax havens, the Cayman Islands dollar is worth about $ 1.22.

 

7 – European Euro ($ 1.18)

Currency code – EUR .

Euro rate: 1 EUR = 1.18 USD (euro to dollar).

European Euro Currency
European Euro Currency

Even considering that the Euro has lost about 20% of its value over the past year, it is still one of the strongest in the world.

Part of its strength is due to the fact that it is the official currency in 17 European countries, among which there are several economic “heavyweights”.

In addition, the Euro is the world’s second reserve currency, covering 22.2% of all world savings (the dollar has 62.3%).

 

8 – Swiss Franc ($ 1.10)

Currency code – CHF .

Swiss franc rate: 1 CHF = 1.10 USD (Swiss franc to dollar).

Swiss Franc Currency
Swiss Franc Currency

Switzerland is not only one of the richest countries in the world, but also one of the most stable. Its banking system is known for its unshakable “Banking Secret”.

In addition, their high-tech products are appreciated all over the world.

Pay attention to the original look of this bill. This is the only currency I’ve seen that “looks” vertically.

 

9 – US Dollar

Currency code – USD .

Dollar exchange rate: 1 USD = 0.85 EUR (dollar to euro).

US Dollar Currency
US Dollar Currency

Due to America’s leading position in the world arena, its currency has achieved the title of “world reserve currency”. In other words, you can pay with dollars anywhere in the world.

 

10 – Canadian dollar ($ 0.79)

Currency code – CAD .

Canadian dollar rate: 1 CAD = 0.79 USD (Canadian dollar to US dollar).

Canadian dollar Currency
Canadian dollar Currency

The Canadian dollar is the world’s fifth largest reserve currency. It is often called the “loonie” after the bird depicted on the $ 1 coin.

 

Drop out of the top ten world currencies rating

Due to the dynamically changing economic and political situation in the world, it is difficult for the currency to remain in this rating, so here is a list of currencies that have come out of the top ten of the world’s most expensive money in previous periods.

 

Australian dollar ($ 0.73)

Currency code – AUD .

Australian dollar rate: 1 AUD = 0.73 USD (Australian dollar to US dollar).

Australian dollar
Australian dollar

Interestingly, the new series of Australian banknotes, like the one pictured above, will have a tactile function (Braille) to help the visually impaired community determine the denomination of the banknote.

Also in Australia, the fight against “cash” is being conducted by reducing the share of cash payments when making small retail purchases.

Azerbaijani manat ($ 0.59)

Currency code – AZN .

The rate of the Azerbaijani manat: 1 AZN = 0.59 USD (Azerbaijani manat to the dollar).

Azerbaijani manat Currency
Azerbaijani manat Currency

It is certainly surprising to see the Azerbaijani manat on this list, but the currency of this Middle Eastern country is only slightly cheaper than the US dollar.

It should be noted that the local economy is actually quite strong and the unemployment rate in the country is low. 

Libyan Dinar ($ 0.22)

Currency code – LYD .

Libyan dinar exchange rate: 1 LYD = 0.22 USD (Libyan dinar to US dollar).

Libyan Dinar Currency
Libyan Dinar Currency

The Libyan dinar has tokens called dirhams. It is interesting that one dinar is equal to 1,000 dirhams, and not 100, as we used to think.

 

Seborgian Luigino?

Have you ever heard of a currency called Seborgan Luigino?

This currency belongs to the virtual state of the Principality of Seborga, which is located on the border of Italy and France. Luigino circulates mainly locally and is not considered legal tender in any other country.

But interestingly, the local Luigino exchange rate is 1 SPL = 6 USD , which could make this currency the most expensive in the world if it were officially recognized outside the principality.

Thus, despite the huge cost of SPL, Luigino cannot yet rank first on our list of the most expensive currencies in the world.

 Is the high value of the currency 2024 a sign of a strong and stable economy?

It is known that currencies of not particularly successful countries tend to decrease in value. However, when the economy is doing well, we can hardly see the opposite effect.

Indeed, in practice, there have been very few cases where the value of a currency has steadily increased. The reasons may be different, but basically, the state itself is not profitable for the constant strengthening of the currency, because the population begins to actively save money instead of spending it.

Thus, the high value of the currency only indicates that inflationary processes in the country are under control.

In the context of this article, mention should also be made of Japan

and its one of the strongest economies in the world. At the same time, the value of the Japanese yen is very small,  $ 1 = ¥ 109.84 .

Information about the largest value of currencies can hardly be used by investors to make any investment decisions. In this case, it is better to consider the most stable currencies.

By the way, did you know that you cannot use banknote images without the “SPECIMEN” inscription? Learning to obey the laws, comrades!

PM YojanaGraduation CourseSarkari YojanaIndia Top ExamExcel Tutorial
Spread the love

Leave a Comment