We present you a rating of the most expensive currencies in the world, which will surprise you in many ways.
Rating of the most expensive currencies in the world.
On this day in 1948, a new currency was introduced in the FRG (Federal Republic of Germany) - the German mark. After the changeover to the euro in 2002, the mark ceased to be legal tender in Germany, but remained forever in history as a stable and “hard” currency. Inspired by today's event, we have prepared a selection of the most expensive currencies in the world. You will be surprised, but the first place in this ranking is not occupied by the US dollar or even the Swiss franc.
Singapore dollar.
After Singapore gained independence in 1965, its currency, the Singapore dollar, existed as a currency pegged first to the British pound and then to the US dollar. Nevertheless, after 20 years, the authorities released the Singapore dollar to float freely. Its value skyrocketed after Singapore became the intellectual and technological hub of the East. Thanks to the stable GDP growth of Singapore, the currency of this country is very strong today.
Brunei dollar.
Brunei is a small country in Southeast Asia. Located between Malaysia and the South China Sea, it has a very high GDP per capita. Despite a slight drop in value (the peak was reached five years ago at 1 BND = 0.83 USD), the Brunei dollar remains a fairly strong currency and is practically not subject to inflationary processes.
Australian dollar.
The Australian dollar, like the Canadian dollar, belongs to freely convertible commodity currencies, since its exchange rate is highly dependent on prices in the commodity markets. The reason is that Australia is essentially an export country. It sells gold, iron ore, oil, gas, coal and various agricultural products on foreign markets. 2015 was not a successful year for the natural resources sector in Australia, which caused the value of the Australian dollar to fall. But it is still in the top 10 most expensive currencies in the world.
U.S. dollars.
The American dollar, known to everyone from a young age, stably retains its status as the main world currency. In 1973, after the conclusion of the deal between Saudi Arabia and the United States, such a concept as "petrodollars" appeared. And in 1975, the Organization of the Petroleum Exporting Countries adopted the US dollar as the only cash to buy oil. This gave rise to a strong demand for dollars. There are many opinions that the next wave of the crisis in the coming years will shake the US financial system, in connection with which the dollar will also collapse. However, experts are confident that the likelihood of this is very small.
Swiss frank.
The Swiss banking system is one of the oldest and largest in the world. This made the Swiss national currency, the Swiss franc, a safe haven for international capital. The Swiss central bank introduced a tight peg for the franc to the euro after the country joined the monetary union. However, last year the franc was released to float, which literally over the next 10 minutes caused an unprecedented rise in the franc against all currencies of the world up to 20-30%.
Euro.
The well-known eurozone currency, despite many different economic and political problems, remains one of the most expensive currencies on the planet. The euro is still more expensive than the US dollar.
British pound.
The pound sterling, or British pound, became a strong currency during the colonial era. Since then, it has remained one of the main units of account for savings accounts. In mid-2006, the pound became the third most widely accepted reserve currency, having seen a surge in popularity in recent years.
Omani rial.
Oman's economy is based on oil exports. Also, gas production, metallurgy and tourism are developing in the country. The average monthly salary in Oman is $ 4,100, GDP per capita in 2015 was $ 15,232. Oman has no unemployment and no homeless people. All things considered, it should come as no surprise that the country's currency, the Omani rial, ranks among the top three most expensive currencies in the world.
Bahraini dinar.
The resilience of the Bahraini dinar depends on the country's ties to Saudi Arabia and the oil market. But he has another trump card. Bahrain is home to an American naval base, which is critical to US influence in the region.
Kuwaiti dinar.
So, the most expensive currency in the world is the Kuwaiti dinar. At the same time, this currency has been holding its leadership for more than a dozen years. The fact is that Kuwait is enjoying the fruits of a thriving oil-based economy.
* exchange rate as of 2021
See also: "Top 10 Least Valuable Currencies in the World"
Rating of the most expensive currencies in the world.
On this day in 1948, a new currency was introduced in the FRG (Federal Republic of Germany) - the German mark. After the changeover to the euro in 2002, the mark ceased to be legal tender in Germany, but remained forever in history as a stable and “hard” currency. Inspired by today's event, we have prepared a selection of the most expensive currencies in the world. You will be surprised, but the first place in this ranking is not occupied by the US dollar or even the Swiss franc.
10.Singapore dollar
1 SGD = 0,74 USD *
Singapore dollar.
After Singapore gained independence in 1965, its currency, the Singapore dollar, existed as a currency pegged first to the British pound and then to the US dollar. Nevertheless, after 20 years, the authorities released the Singapore dollar to float freely. Its value skyrocketed after Singapore became the intellectual and technological hub of the East. Thanks to the stable GDP growth of Singapore, the currency of this country is very strong today.
9. Brunei dollar
1 BND = 0.74 USD
Brunei dollar.
Brunei is a small country in Southeast Asia. Located between Malaysia and the South China Sea, it has a very high GDP per capita. Despite a slight drop in value (the peak was reached five years ago at 1 BND = 0.83 USD), the Brunei dollar remains a fairly strong currency and is practically not subject to inflationary processes.
8. Australian dollar
1 AUD = $ 0.75
Australian dollar.
The Australian dollar, like the Canadian dollar, belongs to freely convertible commodity currencies, since its exchange rate is highly dependent on prices in the commodity markets. The reason is that Australia is essentially an export country. It sells gold, iron ore, oil, gas, coal and various agricultural products on foreign markets. 2015 was not a successful year for the natural resources sector in Australia, which caused the value of the Australian dollar to fall. But it is still in the top 10 most expensive currencies in the world.
7. US dollar
U.S. dollars.
The American dollar, known to everyone from a young age, stably retains its status as the main world currency. In 1973, after the conclusion of the deal between Saudi Arabia and the United States, such a concept as "petrodollars" appeared. And in 1975, the Organization of the Petroleum Exporting Countries adopted the US dollar as the only cash to buy oil. This gave rise to a strong demand for dollars. There are many opinions that the next wave of the crisis in the coming years will shake the US financial system, in connection with which the dollar will also collapse. However, experts are confident that the likelihood of this is very small.
6. Swiss franc
1 CHF = 1,04 USD
Swiss frank.
The Swiss banking system is one of the oldest and largest in the world. This made the Swiss national currency, the Swiss franc, a safe haven for international capital. The Swiss central bank introduced a tight peg for the franc to the euro after the country joined the monetary union. However, last year the franc was released to float, which literally over the next 10 minutes caused an unprecedented rise in the franc against all currencies of the world up to 20-30%.
5. Euro
1 EUR = 1,13 USD
Euro.
The well-known eurozone currency, despite many different economic and political problems, remains one of the most expensive currencies on the planet. The euro is still more expensive than the US dollar.
4. British pound
1 GBP = 1,47 USD
British pound.
The pound sterling, or British pound, became a strong currency during the colonial era. Since then, it has remained one of the main units of account for savings accounts. In mid-2006, the pound became the third most widely accepted reserve currency, having seen a surge in popularity in recent years.
3. Omani rial
1 OMR = 2,60 USD
Omani rial.
Oman's economy is based on oil exports. Also, gas production, metallurgy and tourism are developing in the country. The average monthly salary in Oman is $ 4,100, GDP per capita in 2015 was $ 15,232. Oman has no unemployment and no homeless people. All things considered, it should come as no surprise that the country's currency, the Omani rial, ranks among the top three most expensive currencies in the world.
2. Bahraini dinar
1 BHD = 2.65 USD
Bahraini dinar.
The resilience of the Bahraini dinar depends on the country's ties to Saudi Arabia and the oil market. But he has another trump card. Bahrain is home to an American naval base, which is critical to US influence in the region.
1. Kuwaiti dinar
1 KWD = 3.32 USD
Kuwaiti dinar.
So, the most expensive currency in the world is the Kuwaiti dinar. At the same time, this currency has been holding its leadership for more than a dozen years. The fact is that Kuwait is enjoying the fruits of a thriving oil-based economy.
* exchange rate as of 2021
See also: "Top 10 Least Valuable Currencies in the World"
