The 10 most valuable currencies in the world
What are the most valuable currencies in the world as we move ahead in 2023?
It depends on the day. As the two most-traded currencies on the planet, the U.S. Dollar and Euro always rank highly. But they’re far from the most valuable out there right now. Hint: It usually helps if a country’s currency is backed by valuable oil reserves and a strict monetary policy.
Here’s a look at the most valuable currencies in the world:
10. U.S. Dollar (USD)
Conversion rate: 1 USD = .91 EUR.
The U.S. Dollar is the most traded currency in the world. Almost 70 percent of banknotes are circulating outside the United States.
9. Swiss Franc (CHF)
Conversion rate: 1 CHF = 1.15 USD.
The Swiss Franc is the national currency of both Switzerland and Lichtenstein. Switzerland’s strict monetary policy has helped increase the currency’s value throughout the European debt crisis and the US Dollar’s more liberal policies.
8. European Euro (EUR)
Conversion rate: 1 EUR = 1.10 USD.
The Euro is the second-most traded currency in the world and the official currency for 19 European countries. While it was worth less than the US Dollar upon its introduction in 2000, it soon became more valuable and reached as high as $1.60 during the United States’ economic crisis in 2008.
7. Cayman Islands Dollar (KYD)
6. Gibraltar Pound (GIP)
Conversion rate: 1 GIP = 1.27 USD.
Similar to the British pound, which can be exchanged with the GIP at par value, this official currency of Gibraltar is printed by the country’s government under the terms of the 1934 Act Currency Notes.
5. British Pound Sterling (GBP)
Conversion rate: 1 BPG = 1.28 USD.
The British Pound Sterling is the highest-valued currency not based in the Middle East. It’s the national currency of England, Scotland, Wales and Northern Island.
4. Jordanian Dinar (JOD)
Conversion rate: 1 JOD = 1.41 USD.
Jordan doesn’t have the oil resources of its well-heeled neighbors, but its government runs a tight ship on exchange rates, which keeps the value of its dinar high.
3. Omani Rial (OMR)
Conversion rate: 1OMR = 2.60 USD.
The Omani Rial’s value is tied to oil production. The note has become so valuable that the government had to issue notes worth 1/4 and 1/2 a rial.
2. Bahraini Dinar (BHD)
Conversion rate: 1 BHD = 2.65 USD.
As one of the world’s leading oil producers, Bahrain is also able to maintain one of the most valuable currencies. What’s a little strange is that Bahrain also accepts the Saudi riyal as legal tender. The current exchange rate between the two currencies is 9.95 riyal to one dinar.
1. Kuwaiti Dinar (KWD)
Conversion rate: 1 KWD = 3.25 USD.
The world’s strongest currency is driven by Kuwait’s large reserves and exports of oil. About nine percent of the world’s global oil reserves are located in Kuwait.
