Which is the most expensive currency in the world? Boost your Knowledge
List of countries whose currency is expensive.
When we talk about most expensive currencies in the world; 90 percent people think it may be US dollar or Euros.
Money, one of the earliest and most significant inventions of civilization, is essential to the development of trade. Without it there is only barter, a relationship between two people each of whom has something which the other wants.
This is the current list and is ranked per their value against US Dollar. Most expensive currencies doesn’t necessarily mean that the currency is better investment option or that it represents a better economic health of a nation.
Top 10 expensive currencies in the world
1 Switzerland franc = 67.63 INR
9. Bahamian Dollar
1 Bahamian Dollar = 68.57 INR
The dollar has been the currency of The Bahamas since 1966. It is divided into 100 cents. The Bahamian dollar is pegged to the U.S. dollar on a one-to-one basis which means that any business will accept either U.S. or Bahamian currency and many of the businesses that serve tourists have extra U.S. dollars on hand for the convenience of American tourists.
1 European Euro = 72.65 INR
Officially introduced in 1999, the multinational Euro didn’t begin changing hands until January 2001. After a rocky start, the Euro has gained on the dollar for years. The currency is the official currency of eurozone that comprises of 17 countries. Some these include Belgium, Finland, France, Germany, Greece, Italy, Netherlands, Portugal, and Spain. The currency is the second largest reserve currency as also the second most traded in the world.
7. Cayman Islands Dollar
1 Cayman Islands Dollar = 83.56 INR
It is the official money of Cayman Islands, and its code is KYD. It is only used on this island nowhere else in the whole global market. The abbreviation used for this money is C/$ in order to make it different from all other dollar currencies. In this place, there is no proper taxation, and it also has its financial center as well. It is considered as one of the most valuable money in the whole globe. It is not much famous in the world as it is only used in this specific area not in any other place in the world.
6. UK Pound Sterling
1 UK Pound Sterling = 85.52 INR
Everyone knows about London and in this country there is the royal government. The pound sterling is commonly called the only pound. It is the official currency of UK. The one pound of this currency is divided into 100 pence. It is very expensive currency so people visiting this country must have the large amount with them to enjoy in this country. On their currency notes, it has the picture of their royal queen that is running from many years.
5. Jordanian Dina
1 Jordanian Dina = 96.69 INR
Jordan may lack water and crude oil but the Mideast kingdom has one thing going for it – a strong currency. From 1927 to 1950, the Palestine Currency Board issued Palestine pound as the official currency in both Palestine and the Trans-Jordan Emirate, according to Wikipedia. When Jordan became independent in 1946, the country wanted its own currency and Jordanian dinar became the kingdom’s official currency.
4. Latvian Lats
1 Latvian Lats = 110.42 INR
One Lats is currently worth $1.61 US. The country, about the size of West Virginia, has entered the process to phase out the Lat in favor of the Euro, which is expected to be the official currency around 2012. Its forth in the list of most expensive currencies in the world.
3. Omani Rial
1 Omani Rial = 178.01 INR
2. Bahraini Dinar
1 Bahraini Dinar = 181.70 INR
Bahrain is very famous and successful country in terms of employment opportunities. It is also very famous in the globe because of its second most expensive currencies in the world. It is one of the most valuable currencies in the world. It is the main reason people from all over the globe go there for jobs. They know they will earn well for their hard work given to their work. It is also considered as a most liberal country in the globe. On their currency, they have the picture of their royal Arabs from many years.
1. Kuwaiti Dinar
1 Kuwaiti Dinar = 224.33 INR
Kuwaiti Dinar is the official currency of Kuwait. It is considered as the most expensive currencies in the world. This country is very rich because of their oil reserves, and they are exporting them all over the world. As Kuwait has the most valuable currency in the world even then mostly people are still choosing USA as their destination and wanted to work there. Kuwaiti Dinar is become a number one most expensive currency in the world.
Interesting Facts About Currencies:
1. Only 8% of the world’s currency is physical money, the rest only exists on computers.
2. Before 1974, Bhutan didn’t have any currency. Instead they followed Barter system, i.e., they traded goods and services in exchange of other goods and services. In 1974 Bhutanese Ngultrum was introduced as a currency.
3. Throughout history, people have used many forms of money, such as soap, cocoa beans, elephant tail hairs, entire elephants, grain, animal skins, fishhooks, feathers, tea tobacco, bird claws, and bear teeth.
5. Credit cards were first used in the 1920s. Hotels were the first to offer cards to their customers to pay for their hotel stays.
6. There are more credit cards than people in the U.S.
7. More Monopoly money is printed annually than real money.
8. Paper bills were first used by the Chinese, who started carrying folding money during the Tang Dynasty (A.D. 618-907).
9. Over 170 different currencies are used around the world today.
10. U.S. currency is actually fabric, not paper. It is composed of 25% linen and 75% cotton and has tiny red and blue synthetic fibers of different lengths evenly distributed throughout. If it were paper, it would easily fall apart.