![]() The United States’ national currency is the US Dollar (USD). When a multinational business is researching tax havens, it will often use this currency for its foreign offshore banks. The Swiss Franc is also Liechtenstein’s legal tender. Switzerland’s national currency is the Swiss Franc (CHF), and 1 CHF pegs to 1.04 USD. Because of its widespread usage, it is among the most popular and expensive currencies in the world, with many nations relying on it for international cash settlements. The euro to dollar rate keeps changing because the euro uses a flexible exchange rate.īesides the 17 countries of the Eurozone that peg to the euro, other countries in the world also peg to the euro. The European Union’s money is the European Euro (EUR), and 1 EUR converts to 1.14 USD. In 1972, the Cayman Islands announced its new currency to the money market, and today, it’s tightly pegged to the USD and rises and falls parallel to it. The Cayman Islands’ national currency is the Cayman Islands Dollar (KYD), and 1 KYD equals 1.20 USD. Yet, despite its fall from grace, it remains a formidable currency - the fifth most valuable in the world. It’s still a major player in the world of high finance, and it took three world-shaking events like World War I, World War II, and the Great Depression of the 1930s to force the mighty British pound sterling to give up its leadership role as the world’s reserve currency. When it comes to the history of money, the British pound sterling may be the most resilient. The United Kingdom’s national currency is the British Pound Sterling (GBP), and 1 GBP pegs to 1.26 USD. Today, Jordan ranks as a strong currency because of strong foreign investments and high public confidence. ![]() The SDR is an International Monetary Fund (IMF) reserve currency started in 1969, which operates like the USD. In 1995, the government linked the Jordanian dinar to the Standard Drawing Rights (SDR). Then, in 19, the country introduced a national currency. In 1946, Jordan became an independent kingdom. Jordan’s national currency is the Jordan Dinar (JOD), and 1 JOD pegs to 1.41 USD. However, in 2002, it ramped oil production to over 900,000 barrels a day. ![]() Initially, because of modest oil reserves discovered in 1967 compared to other oil-rich countries in the Arabian Peninsula, it relied on a diverse economy, earning income from tourism, livestock (camel and goat herding), agriculture, fishing, and handicrafts. Then in 1973, the country issued the Oman Rial and pegged it to the USD.ĭespite its short existence, the Oman Rial now ranks as number three on our list because of its economic stability. In 1970, when the Qaboos bin Said al-Said established the Sultanate of Oman, it used the Saudi Riyal. Oman’s national currency is the Oman Rial (OMR), and 1 OMR pegs to 2.6O USD. Because it’s a desert state, it’s a net importer, paying for its essential needs - including water - through strong petroleum production exports. In 1980, Bahrain pegged the currency to the International Monetary Fund’s Special Drawing Rights. The government issued the Bahraini dinar in 1965 when it was still a British protectorate. ![]() The Bahraini Dinarīahrain’s national currency is the Bahraini Dinar (KWD), and 1 BHD equals 2.65 USD. Pegged to the US dollar in 2003, Kuwait returned to the weighted currency basket in 2007, where it remains a strong currency. In 1975, Kuwait pegged its national currency to a monetary system called “a weighted currency basket.” The Iraqi dinar replaced it after the 1990 Iraqi invasion, but after liberation in 1991, the Kuwaiti government put this currency in circulation again and restored the dinar exchange rate value. Issued in 1961, after Kuwait’s independence forced Britain to withdraw its political control of the Middle East, the Kuwaiti Dinar is the most valuable currency today. Kuwait’s national currency is the Kuwaiti Dinar (KWD), and 1 KWD equals 3.29 USD. Let’s take a brief look at their various currency codes, its value compared to the USD, and some reasons for its significance as a global currency.Ĭurious about what country has the most valuable currency? Here is a list of the top ten most valuable currencies in the world in 2019. Out of 180 monetary classifications of banknotes used in 195 countries, the more historical, well-established currencies are not at the top. The world’s most valuable currency notes are not what you might expect. TOP 10 MOST VALUABLE CURRENCIES IN THE WORLD Or is it the world’s reserve currency, the United States dollar? In this Treasury Vault article, we’ve compiled a list of the world’s top currencies. What is the most valuable currency in the world? Is it the British Pound, once the most valuable currency in world history? Issued in 775 A.D., it’s now about 1,200 years old.
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