Do you know which are the most valued currencies in the world? Several factors interfere in the quotation of a currency, such as liquidity, country risk, trade balance, economy, and even the price of commodities.
Even if you don’t work directly with it, understanding the exchange rate is essential for anyone who does business abroad, international travel and investments. See in the article below the list of the 10 most expensive coins in the world and happy reading!
The 10 Most Valued Currencies In The World
1. Kuwaiti Dinar
The most expensive currency in the world is worth three times as much as the US dollar. The Kuwaiti Dinar, known by the acronym KWD, has an average quotation of USD 3.28.
But, why does a currency so little used, not to mention unknown, beat all the others when it comes to its market value? The answer is simple: oil.
Kuwait is an oil exporter and trades large amounts of the commodity in dollars. So many US currencies come into the market and need to be converted to Dinar, which is not as printed as US Dollars.
Here, therefore, we see pressure from the demand and supply of dollars against the Kuwaiti Dinar, which ends up favoring its value in relation to other currencies.
2. Bahraini Dinar
As well as the champion of our list of the strongest currencies in the world, the Bahraini Dinar is also highly valued for the volume of oil trading carried out in its issuing country. It is an island state, and, as you can already assume, it does not have the need for a large volume of issuing banknotes for the use of the local economy.
The result is also an appreciation of the currency against the dollar, which in quotes can be identified with the BHD code. The coin is one of the most expensive in the world and is worth approximately 2.65 USD.
3. Omani Rial
The quotation of the Omani Rial is 2.59 USD, which makes it the third most valued currency in the world. Your code is OMR.
The country, located in the Arabian Peninsula with a well-developed economy and the strength of its currency and its relationship with the US dollar is so relevant that the country had to issue 1/4 and 1/2 Rial notes, that’s right, “half Rial”, to facilitate commercial transactions.
4. Jordanian Dinar
The Jordanian Dinar, or, JOD, has an average exchange rate of 1.41 USD. The country has economic and strategic limitations on the international scene, but even so, it manages to remain among the five most valued currencies in the world for a long time.
5. Pound Sterling
Finally, we come to a currency better known by all, the Pound Sterling, or, GBP, issued by the Bank of England. The exchange rate for the Pound is approximately 1.30 USD.
The country also has colonies that make up the Community of Nations known as the Commonwealth and each one of them issues its Libra, which will have different physical characteristics. However, for the market, the quotation of all of them is 1 to 1 GBP. This, however, does not mean that the traveler can freely use them between these destinations.
6. Cayman Islands Dollar
Also, part of the most valued currencies in the world, the Cayman Islands dollar, identified in world quotations as KYD and is worth approximately 1.19 USD.
Its appreciation is associated with the attractiveness of the Cayman Islands for investors, banks, insurance companies and investment funds, since it is one of the best known tax havens in the world.
Another among the most valued currencies in the world is the Euro, which is equivalent to approximately 1.08 USD. Also, it is known as EUR.
In addition to being the official currency of the European Union, it also holds the second largest foreign exchange reserve in the world, which makes the Euro one of the most valued currencies in recent times.
8. Swiss Franc
The Swiss Franc is represented by the code CHF and is the official currency of Switzerland, one of the richest countries in the world with enviable economic development. Its quotation is approximately 1.06 USD and, curiously, its banknotes are vertically oriented.
In addition to its natural beauties that attract millions of tourists, the country is also a magnet for business and technological development companies. In other words, a strong economy that is capable of placing its currency among the most valued currencies in the world.
9. US Dollar
Finally we come to the dollar or USD, which is the code we follow in quotes, negotiations and comparisons. The US dollar is the main monetary reference for the world of business and tourism.
Governments all over the world use the dollar to balance their import and export balances, it is also a go-to for investors as they purchase USD to diversify their investments, with this, the U.S. Dollars gets strengthened the more.
The US Dollar has the biggest Foreign Exchange Reserve in the world, making it a globally “acceptable” currency. Even in some countries, they still utilize dollars alongside their local currency to transact.
Even in this list of the most valued major currencies in the world, we use the US dollar as a reference for comparisons, did you notice?
10. Canadian Dollar
The Canadian dollar, or CAD, completes the ranking of the most valued currencies in the world today, worth approximately 0.79 USD.
The country holds the fifth largest Exchange Reserve in the world and, for those who are intimate, its currency is also called the loonie in honor of the bird that is represented on the Canadian dollar bill. Canada is also one of the most important tourist destinations for Brazilians, who choose its cities for leisure, business and professional development, for example. So, it’s a quote that’s always on the radar.
This list can change according to local and international economic changes, but most of the time, these currencies only change positions in this ranking and remain among the most valued. Even with the arrival of cryptocurrencies, this scenario has not changed substantially.
Why are cryptocurrencies not among the most valued currencies in the world?
Like all the other most valued currencies in the world, a cryptocurrency is an investment option, but also a resource for carrying out commercial transactions, that is, it is possible to buy a good or hire a service using this payment method.
However, the similarities stop there. Cryptocurrencies, unlike traditional currencies, are not issued by a country and therefore cannot be compared within the same valuation criteria. But in fact, their quotes are high.
The importance of keeping track of currency values
Understanding currency values around the world is essential if you need to trade or are planning a leisurely trip to a destination. It is also important to follow the movement of quotations when making international shipments, so that you do not incur losses.
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