Whenever the word currency is spoken, A dollar or pounds floats in front of our eyes. A currency is nothing but the money, also known as medium of exchange which is commonly used in a particular nation for transaction between an individual and business. Earlier when medium of exchange was not their or was in unstable mode, Trading among people or countries was done through Barter system. In barter system an individual or business was suppose to directly exchange their goods and services by other goods and services without using medium of exchange or currency. Consider a small example a farmer and milk man in a village do the trading, where farmer give grains and pulses to milk man and in return milk man gives milk to the farmer. So trading through this barter system was done on basis of faith and mutual understanding in presence of any third party agent or broker.
You can judge value of the product of your country because we are very much aware about currency value of our country. But if you are traveling form one country to another, before your flight departs you need to exchange your currencies notes with respect to currency of destination country. So when you reach there it becomes little bit difficult for you to purchase any product in unknown country because we are not much aware about pricing rate and currency value for that country.
Standard currency such as united state dollar (USD), Pound sterling (GBP) and euro (EUR) are commonly used in foreign exchange market and mostly exchange rates calculation are made with respect to this currency. There are many more currency which is more valuable than US dollar, pound and euro. But it doesn’t mean that doing investment in high value currency will give you good return or country with higher value currency is having good economic health of that country. We are listing down 10 most expensive currencies whose values are calculated against dollar..
10. Kuwaiti Dinar (KWD).
1 KWD = $3.55303
Dinar is the currency of Kuwait which is the highest value currency in the world. Kuwait is located at western Asia. Capital of Kuwait is Kuwait city. Currency code is represented by KWD and it is further subdivided into 1000 fils. It holds the highest value of currency in the world.The Value of 1 KWD is equal to 3.55USD. Kuwait is oil rich gulf country which from long years back. Earlier gulf rupee was used as currency but in 1961 dinar replaces the gulf rupee and it was almost equivalent to sterling pound. Kuwait currency value is on the top because of oil export across the world.
9. Bahraini Dinar (BHD).
1 BHD = $2.66951.
Currency of Bahrain is Dinar thus called Bahraini dinar. Bahrain is located at Middle East and capital of Bahrain is Manama. Bahraini Dinar is the second valuable currency in the world. Currency code is represented by BHD. Value of 1 BHD is equal to 2.66 USD. Bahrain is also gulf country which deals with petroleum production and refining. It also developed in financial and construction sector. Main growth of Bahrain is due to export of oil and petroleum.
8. Omani Rial (OMR).
1 OMR = $2.60552.
Currency of Oman is Rial. Oman is officially called as sultanate of Oman and is Arab state located in southwest Asia. Capital of Oman is Muscat. Omani riyal is third most valuable currency in the world. Currency code of Oman is OMR. Value of 1 OMR is equal to 2.60552 USD. In 1970, the currency of Oman was made by Rial Saidi. Oman is also an oil reach country, deals with petroleum production and refining. Major business of Oman is export of crude oil.
7. Latvian Lats (LVL).
1 LVL = $ 1.89286.
Currency of Latvia is Latvian Lats and Latvia is located at Baltic region of Northern Europe. Riga is the capital of Latvia. Currency code of Latvian lats is LVL and abbreviated as Ls. Value of 1 LVL is equal to 1.89286 USD.In 1922 Lats was first introduced, replaced Latvian rubils.Latvian Lats is the fourth most valuable currency in the world.
6. UK Pound Sterling (GBP).
1 GBP = $1.61685
Currency of United Kingdom is pound sterling which is officially known as pound. Further pound is subdivided into 100 pence. The United Kingdom of Great Britain and Northern Ireland is commonly known to be United Kingdom (UK).London is capital of UK. Pound sterling is the fifth most valuable currency in the world and it’s denoted by (GBP). Value of 1 GBP is equal to 1.61685 USD.
5. Jordanian Dinar (JOD).
1 JOD = $1.41044
Currency of Jordan is Jordanian dinar. Subdivision of Jordanian dinar is 10 dirham. Jordan is Arab country located in Asian continent. Jordan is officially known as Hashemite Kingdom of Jordan. Amman is the capital of Jordan. Currency code of Jordan is JOD and value of 1 JOD is equal to 1.41044 USD. In 1940 King Jordan introduced Jordan dinar. Jordanian dinar is the sixth most valuable currency in the world.
4. European Union Euro (EUR).
1 EUR = $1.31622
Euro is the currency of eurozone that includes 25 members state in European union which are located in Europe. Major institution of Europe includes European council, European commission, European central bank and many more. In 1999 Euro was officially introduced and currency sign of euro is denoted by €. Currency code of Europe region is euro and value of 1 Euro is equal to 1.31622 USD. Euro is further divided into 100 cents. Euro is the seventh most valuable currency in the world. Euro is also one of the famous currency which holds international standard for trading in global market after US dollar, euro is also used in foreign exchange market.
3. Azerbaijani Manat (AZN).
1 Manat = $1.27405
Currency of Azerbaijan is Azerbaijani Manat. Azerbaijan is located region of western Asia. Baku is the capital of Azerbaijan. Azerbaijan is the country with low rate of unemployment, high literacy and good economic development. Currency code of Azerbaijan is AZN and value of 1 Manat (AZN) is equal to 1.27405 USD. Manat is subdivided into 100 qapik. In 1919 and 1923 Azerbaijan Democratic Republic issued their own currency.
2. Cayman Islands Dollar (KYD).
1 KYD = $1.22838
By given name you can make out that currency of Cayman Island is Cayman Islands dollar. Currency code of Cayman Island is KYD and currency sign is denoted by $ or CI$. The value of 1 KYD is equal to 1.22838 USD and it is subdivided into 100 cents. It is the ninth highest value currency in the world. In 1972 Cayman Islands dollar was introduced and replace by Jamaican dollar. Cayman Islands and Jamaican currency then both exist till legal agreement till 1 August 1972.
1. Swiss Franc (CHF).
1 CHF = $1.08927
Currency and legal tender of Switzerland and Liechtenstein is franc. Both countries are located in Western Europe. Currency code of Swiss Franc is CHF and currency symbol is denoted by Fr or Sfr.The Value of 1 CHF is equal to 1.08927 USD and smaller denomination is 100th of a franc. For German there is no formal tender defined so it commonly use there. It is the tenth highest value currency in the world unit.