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Top 10 Most Valued Currencies In The World by africa4ever: 12:29pm On Jun 03, 2020
What are the most valued currencies 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. Or is it the world’s reserve currency, the United States dollar? In this Treasury Vault article, we’ve compiled a list of 10 Most valued currencies in the world.

1. The Kuwaiti Dinar
2. The Bahraini Dinar
3. The Oman Rial
4. The Jordan Dinar
5. The British Pound Sterling
6. The Cayman Islands Dollar
7. The European Euro
8. The Swiss Franc
9. The US Dollar
10. The Canadian Dollar

The world’s most valued currency notes aren’t what you might expect. Out of 180 monetary classifications of banknotes used in 195 countries, the more historical, well-established currencies aren’t at the top.

1. The Kuwaiti Dinar

Kuwait’s national currency is the Kuwaiti Dinar (KWD), and 1 KWD equals 3.29 USD. Delivered 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.

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. Pegged to the US dollar in 2003, Kuwait returned to the weighted currency basket in 2007, where it remains a strong currency.

2. The Bahraini Dinar

The Bahraini national currency is the Bahraini Dinar (KWD), and 1 BHD equals 2.65 USD. The government issued the Bahraini dinar in 1965 when it was still a British protectorate.

The year 1980 was when Bahrain pegged the currency to the International Monetary Fund’s Special Drawing Rights. Because it’s a desert state, it’s a net importer, paying for its essential needs, including water through strong petroleum production exports.

3. The Oman Rial

Oman’s national currency is the Oman Rial (OMR), and 1 OMR pegs to 2.6O USD. In 1970, when the Qaboos bin Said al-Said established the Sultanate of Oman, it used the Saudi Riyal. Then in 1973, the country issued the Oman Rial and pegged it to the USD.

Despite its short existence, the Oman Rial ranks as number three on our list because of its economic stability. 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. However, in 2002, it ramped oil production to over 900,000 barrels a day.

4. The Jordan Dinar

The Jordan national currency is the Jordan Dinar (JOD), and 1 JOD pegs to 1.41 USD. In 1946, Jordan became an independent kingdom. Then, in 1949 and 1950, the country introduced a national currency.

In 1995, the government linked the Jordanian dinar to the Standard Drawing Rights (SDR). The SDR is an International Monetary Fund reserve currency started in 1969, which operates like the USD.

5. The British Pound Sterling

The British Pound Sterling is the United Kingdom’s Official Currency (GBP), and 1 GBP pegs to 1.26 USD. Once it comes to the history of money, the British pound sterling may be the most resilient. 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 to force the colossal British pound to give up its leadership role as the world’s reserve currency.

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In spite of its fall from grace, it remains a formidable currency the fifth most valuable in the world.

6. The Cayman Islands Dollar

The Cayman Islands’ national currency is the Cayman Islands Dollar (KYD), which equals 1.20 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.

7. The European Euro

The European Union’s money is the European Euro (EUR), and 1 EUR converts to 1.14 USD. Euro to dollar rates keeps changing because the euro uses a flexible exchange rate.

Besides the 17 countries of the Eurozone that peg to the euro, other countries in the world also peg to the euro. 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.

8. The Swiss Franc

The Swiss national currency is the Swiss Franc (CHF), and 1 CHF pegs to 1.04 USD. The Swiss Franc is also Liechtenstein’s legal tender.

As soon as an international business is researching tax havens, it will often use this currency for its foreign offshore banks.

9. The US Dollar

The United States’ national currency is the US Dollar (USD). Logically, 1 USD is equal to 1 USD because it is both a national currency and a world reserve currency.

In July 1944, delegates from 44 nations gathered in Bretton Woods, New Hampshire to create an international monetary system, choosing the dollar as the world reserve currency. Because it’s the world’s reserve currency, almost every country in the world uses this currency.

While some use the US dollar to measure the value of their money against other currencies, others use it as an acceptable alternative to their own denominations of equal value.

Some countries have even adopted the money as their national currency, using United States paper money as their own legal tender a monetary system that economists call “dollarization.”

10. The Canadian Dollar

Canada’s national currency is the Canadian dollar (CAD), and 1 CAD pegs to 0.75 USD. Valued for its stability and purchasing power, it’s used by many investors—intraday market speculators, investment bankers, forex brokers, individual investors, managers of hedge funds, etc. Stakeholders frequently use it in the FOREX market through currency pairings and in the CME Globex futures market.
SOURCE: https://exploremytown.ng/top-10-most-valued-currencies-in-the-world/

Re: Top 10 Most Valued Currencies In The World by iKingsley(m): 1:00pm On Jun 03, 2020
Where is my naira o?
Re: Top 10 Most Valued Currencies In The World by ebenezary(m): 1:27pm On Jun 03, 2020
for the long time ago, that is how it is
Re: Top 10 Most Valued Currencies In The World by africa4ever: 10:08pm On Jun 03, 2020
Re: Top 10 Most Valued Currencies In The World by moshoodn(m): 10:21pm On Jun 03, 2020
Further down the list lies the Naira...

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