You know, I used to be one of those that thought the British Pound was the most expensive currency in the world, then we talk about Euro and the US Dollars. Comparing these currencies to my country’s is really scary. I’ve never watched or heard individuals argue on which currency is the most expensive in the world as most believed it is the British Pound until the day a friend of mine staged a reasonable argument and enlightened us, so I did a bit of more research and I would be sharing my findings with everyone today.
1. KUWAIT DINAR
1 KWD = 3.33 USD = 1198.8 NGN
This is the most expensive expensive currency in the world. Kuwait is a small country with enormous wealth made from her significant oil goods exports in the global market
Interesting Fact- Alcohol consumption ( importation and brewing of, and trafficking in liquor ) in Kuwait is strictly against the law. You can be charged and imprisoned if you are caught with even the slightest amount of alcohol in your system
2. BAHRAIN DINAR
It is considerable that purchase power of this currency is so high that the government has to issue 1/4 and 1/2 Rial paper banknotes. On the picture above, you can see 1/2 Rial (Half Rial).
4. JORDAN DINAR
It is hard to explain high value of Jordan Dinar. This country is not economically developed and it lacks essential resources, such as oil. Never the less, one Jordan Dinar costs 1.41 US Dollar, what makes it one of 10 the most powerful world currencies.
5. BRITISH POUND
1 GBP = 1.39 USD = 500.4 NGN
Most people think that British Pound is the strongest world currency, but it only closes the top five of this list.
By the way, British Colonies issue its own banknotes, which visually differs from banknotes issued by the Bank of England, but they are rated as 1 per 1.
Therefore, there are several of them: Scottish, North Ireland, Manx, Jersey, Guernsey, Gibraltar Pounds, as well as St. Elena Island Pound and Folkland Islands Pound.
Amusingly, but native Britain do not always want to accept “other” Pounds as a payment.
6. EUROPEAN EURO
1 EUR = 1.24 USD = 446.4 NGN
The euro currency has strengthened over the past few years. This allowed it to raise the list of the most powerful currencies. Partially, its strength is explained by the fact that it is the official world currency in European countries among which you will find several economically developed countries.
Besides, Euro is the second reserve world currency enveloping 22.2% of all world savings (US Dollar has 62.3%).
7. CAYMAN ISLANDS DOLLAR
1 KYD = 1.22 USD = 439.2 NGN
Cayman Islands is one of the best world tax havens. These islands provided authority for hundreds of banks, hedge funds and insurance companies.
Especially, thanks to its leadership among tax havens, Cayman Islands Dollar costs near 1.22 US Dollar.
8. SWISS FRANC
1 CHF = 1.01 USD = 363.6 NGN
Switzerland is not only one of the richest countries in the world, but it is also one of the most stable. Its bank system is known for its resolute “Bank Secrecy”.
Besides, its high-tech goods are estimated all around the globe.
Notice that looking at original view of this banknote. This is the only banknote I saw which has the vertical view.
9. US DOLLAR
1 USD = 360 NGN
Owing to USA world economic leadership, its currency achieved such a title as “World Reserve Currency”. In other words, you can make dollar payments everywhere (in any country).
10. AUSTRALIAN DOLLAR
1 AUD = 0.78 USD = 280 NGN
The new series of Australia notes, as on picture above, would have a tactile feature (Braille) to help the visually impaired community to tell the value of the note.
Also in Australia, the fight against cash is conducted by reducing the share of cash payments when making small retail purchases.
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