Most Expensive World Currencies in 2020
Most people believe that the British Pound is the most expensive currency. But actually, it is not. There are at least a few currencies that are more valuable.
To help you get a better understanding of the situation, we compiled a list of the strongest world currencies as of Sep 3, 2020.
3.27 United States Dollar
17 Sep, 2:04 pm UTC .
The highest currency in the world is Kuwaiti Dinar (against the US Dollar).
The high value (rate) of its currency is explained by significant oil exports into the global market.
Kuwait is a small country with enormous wealth. Due to the stable petroleum-based economy, highly developed oil production and export, Kuwait is considered to be one of the richest countries in the world.
More than 80% of the country’s revenue comes from the oil industry, as petroleum production here is the easiest and, therefore, the cheapest among other countries.
Since 2003 the currency was pegged to the US Dollar, but in 2007 the government decided to peg the Kuwaiti Dinar to the weighted currency basket.
Besides the very stable economy, Kuwait is a tax-free country with a very low unemployment rate.
17 Sep, 2:04 pm UTC ·
The Bahrain Dinar is the second most valuable currency.
Bahrain is a Persian Gulf island state with a population of just over 1 million people. As in the first case, this country’s largest source of income is the “black gold” exports.
Interestingly, the Bahrain Dinar is pegged to the US Dollar exchange rate, and its rate against the US Dollar has remained stable since 2005.
Oman is a country on the Arabian Peninsula. Thanks to its strategic location, it possesses a developed economy and a high quality of life.
The Oman Rial is also pegged to US Dollar as Bahrain Dinar.
Remarkably, the purchasing power of this currency is so high that the government had to issue 1/4 and 1/2 Rial banknotes. On the picture above, you can see 1/2 Rial (Half Rial).
1 Jordanian Dinar equals
1.41 United States Dollar
17 Sep, 1:00 am UTC ·
It is hard to explain the high value of Jordan Dinar. This country is not economically developed, and it lacks essential resources, such as oil.
Nevertheless, one Jordan Dinar costs 1.41 US Dollars, which makes it one of 10 the strongest world currencies.
British Pound Sterling