Top 10 The Most Expensive Currency in the world 2021
The Most Expensive Currency ranking
Money is a type of currency. Commonly known as money. The so-called currency is a tool to measure price, a medium for purchasing goods, a means of preserving wealth, a contract between the owner of property and the market regarding the right to exchange, which is essentially an agreement between the owners. What is the most valuable currency in the world? Many people would think it’s dollars, euros, pounds. In fact, it’s wrong. The following are the top ten currencies that are most valuable based on the exchange rate interception of the changes: strongest currency in the world 2021
Most Expensive Currency No.1: Kuwait – dinars
Kuwait Currency Code:KWD
1KWD – $3.3289
GDP per capita: $22,105 (IMF).
The name of the dinar comes from a silver coin called Denarius from the Roman Empire. Denarius means money, and words of the same origin are available in Spanish and Portuguese. The meaning of the word became gold after Denarius inherited the Solidus gold coin.
Economic evaluation: The Kuwaiti dinar is the world’s highest exchange rate against the United States dollar. Kuwait is rich in oil and gas , with proven oil reserves of 94 billion barrels , about 10% of the world’s total reserves , ranking fourth in the world in oil 。 In particular, the natural gas industry is the backbone of the national economy, accounting for 45% of GDP. In addition, Witt’s agricultural production is almost zero. Kuwait is a country with a great wealth, and its currency is largely determined by oil exports. According to Bloomberg, 90 percent of the country’s revenue depends on energy exports, with state-owned oil companies providing 80 percent of Kuwait’s jobs.
highest currency in the world list
Kuwait is also a high-welfare country. Kuwaiti citizens receive government subsidies for free medical care, free education and housing, drinking water and electricity. In addition, there are a wide range of social benefits, such as marriage benefits and child benefits. Kuwait has a good financial management , as early as the mid-1970s set up a reserve for future generations , each year 10% of the country’s income for future generations reserves for Kuwait ” after oil ” preparation . The Government of Kuwait uses these two reserves to establish a large-scale investment network worldwide, using outward investment as an important way to address future national revenues. It is worth mentioning that Kuwaitis have long been recognized by the international financial and economic community for their overseas investments, and their large investments in the United States, Europe, Asia and so on, since 1985, Kuwait’s annual income from assets of foreign capital has exceeded the annual profits from oil exports.
Most Expensive Money No.2. Bahrain – dinars
Bahrain Currency Code:BHD
1BHD – US$2.6532 (PED)
GDP per capita: $22,402 (IMF).
Economic review: The Bahraini dinar is one of the most valuable currencies in the world. Bahrain is a Persian Gulf country with a population of just over 1 million. Like Kuwait, Bahrain is a “black gold” country, with oil exported to countries around the world. At the same time, currency converter the Kingdom of Bahrain is one of the freest countries in the world, with a very high employment rate. Interestingly, the Bahraini dinar is pegged to the Dollar, which has remained unchanged for 14 consecutive years.
It is worth mentioning that wealth is widespread in this country, precisely because the economy is too rich, the domestic obesity population is very serious, according to statistics, such as 28.9% of men and 38.2% of women are obese, the national probability of diabetes is the first in the world, at least 15% of the country’s citizens With diabetes, it’s enough to see that obesity is a serious health problem. Although it is a traditional Middle Eastern country, in fact, it is much more open than other Middle Eastern countries and has no particularly strict requirements for women’s clothing.
According to the World Bank,Bahrain’s gross national income per capita will be $22,110 in 2019; Bahrain’s Human Development Index ranks 44th in the world and is recognized by the World Bank as a high-income economy. It is worth mentioning that Bahrain has built a rich welfare system covering the whole country, such as Bahrain implemented three free: free medical care, free education, free personal income tax, and the government to provide affordable housing and other initiatives for the benefit of the people are almost all. Safest currency Bahrain has a very low illiteracy rate of 4.9 per cent, especially among young people aged 15 to 25, with an education rate of 99 per cent, giving it the highest level of education in the Gulf region of the Middle East.
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Most Expensive Currency No.3 Oman – Rial
Oman Currency Code:OMR
1OMR – US$2.6042 (PED)
GDP per capita: US$14,216 (IMF).
Economic evaluation: The Sultanate of Oman, or Oman for short, is located in the southeastern Arabian Peninsula in western Asia and holds the Strait of Hormuz in the Persian Gulf, the world’s most important oil export route. Oman is one of the oldest countries in the Arabian Peninsula, which was widely traded by sea and land in 2000 BC and became a shipbuilding center in the Arabian Peninsula. most valuable currency 2021
Oman is a traditional agricultural society, with about 40 per cent of the population engaged in agro-fish farming and most of the population being self-sufficient. The main products are barley, jelly, gold, oil, copper, iron and so on. Oman began to exploit oil in the 1960s, and although it is rich in natural resources, it is still a wealthier Arab country because of its relatively weak economic base and relatively slow development due to its late economic start. India currency The oil industry is Oman’s mainstay industry, with oil and gas export revenues accounting for 75 per cent of the country’s fiscal revenues and 41 per cent of GDP. With proven oil reserves of about 5.3 billion barrels, Oman ranks seventh in the Middle East and 22nd in the world. China has become the largest importer of Oman’s crude oil, accounting for more than 70% of Oman’s exports.
Because of its strategic position and abundant resources, Oman has a developed economy and a high quality of living. The Omani rial, like the Bahraini dinar, is pegged to the United States dollar. In fact, the currencies of these Middle Eastern Gulf countries are very high against the dollar, the world’s most valuable currency, mainly because overseas countries are rich in oil, strong economic development, to provide a lot of support for their currency exchange rate.
Most Expensive Money No.4. Jordan – dinars
Jordan currency code:JOD
1JOD – US$1.4124 (pegged to USD)
GDP per capita: $4,259 (IMF).
Economic evaluation: Jordan is a relatively small Arab country, but relative to neighboring countries Jordan’s political, economic and cultural life and other aspects of stability. Jordanians live affluent lives and are relatively open in Islamic countries. It is worth mentioning that Jordan’s freshwater resources are scarce and its oil resources are not abundant. Tourism is one of Jordan’s pillar industries. Attractions such as petra, the Dead Sea and the Wadi Rum Desert have become the preferred destinations for adventure and leisure vacations for tourists from all over the world.
Jordan is a developing country with a weak economic base, poor resources, less arable land and dependence on imports. The main pillars of the national economy are remittances, foreign aid and tourism. In addition, Jordan’s overseas labour force accounts for 50c/o of Jordan’s labour force, characterized by a high level of labour exports, with large inflows of foreign exchange into the country each year.
In fact, it is difficult for many to explain why the Jordanian dinar became the fourth-largest currency in the world because the country’s economy is underdeveloped and resources scarce, relying mainly on remittances, international aid, etc. With the Jordanian dinar at a high level against the dollar, it is one of the top ten currencies in the world.
Most Expensive No.5 United Kingdom – Sterling
UK currency code:GBP
1GBP – $1.3792
GDP per capita: $40,406 (IMF).
Economic review: The UK is the world’s first industrialized country, with many scientific discoveries and inventions, such as world-renowned steam engines, penicillin, DNA,Dolly the Sheep and jet engines. Once the world’s sixth largest economy, the UK is Europe’s largest financial centre. London is a world-renowned financial center, with a modern financial services system, engaged in cross-border bank lending, international bond issuance, fund investment and other business, but also the world’s largest foreign exchange market, the largest spot gold market, the largest derivatives trading market, the world’s third largest insurance market, the important ship loan market and non-precious metals trading center, and has the largest number of foreign bank branches or offices. World currency
Sterling is the name of the UK national currency and unit of currency. Sterling is mainly issued by the Bank of England. In addition to the United Kingdom, the currency of the British Overseas Territories is also denominated in pounds and is fixed at 1:1 against the British pound.
Since the UK was the first industrialized country in the world and once dominated the international financial industry, the pound was once the most widely used currency for price settlement in international settlement operations. It is worth mentioning that after the adoption of the pound in the euro, it became the oldest still used currency. It ranks third in global foreign exchange reserves, behind the dollar and euro. Sterling was once the fourth largest currency for foreign exchange, after the DOLLAR, euro, and yen. The idea of replacing the pound with the euro has been controversial in some parts of the British public sector because of its national symbolism. The Scottish Conservatives claim that the introduction of the euro means the end of local specialty banknotes because the ECB does not allow member states or the next level of government to design banknotes. The SNP also does not agree with the single European currency because they believe that an independent Scotland should have its own distinctive currency, and its party policies include access to the single currency. Historically, the pound has been the most valuable base foreign exchange variety. Many people generally think that the pound is the world’s most valuable currency at the time, but in fact it is only in fifth place.
Most Expensive Currency No.6. Eurozone – Euro
Euro currency code:EUR
1EUR – $1.1848
Economic rating: Euro, the currency of 19 countries in the European Union. The 19 member states of the euro are: Germany, France, Italy, the Netherlands, Belgium, Luxembourg 、 Ireland, Spain, Portugal, Austria, Finland, Lithuania, Latvia Estonia, Slovakia, Slovenia, Greece, Malta, Cyprus .
On 1 January 1999, a unified monetary policy was introduced in the European Union countries where the euro was introduced, and in July 2002 the euro became the only legal currency of the euro area, which is administered by the European Central Bank (ECB) and the central banks of the euro-zone countries (ESCB), and the euro is also the only legal currency of the euro zone ( regions) of the currency, they are: Monaco, San Marino, Vatican, Andorra, Montenegro and In Kosovo, the first four pocket countries use the euro under agreements with the European Union, while the last two use the euro unilaterally.
It is worth mentioning that the highest significance of the euro is that Europe is expected to weaken the hegemony of the united States dollar in pursuit of European interests through the creation of a strong currency and a strong regional monetary system arrangement, which will have far-reaching implications for the international monetary system. The 19-nation euro zone, with a population of 330 million, had a GDP of 13.2 trillion euros and accounted for more than 15% of world trade (excluding trade between the 27 EU countries). When circulated, the euro will become a settlement currency in international trade and a very attractive reserve currency, which undoubtedly poses a direct challenge to the monetary dominance of the United States dollar.
The euro fell sharply against the dollar in the wake of the European debt crisis, but remained at a relatively high level, making it one of the most valuable currencies on the list. Part of the reason the euro has remained strong is that euro-zone countries have several economically developed countries, such as Germany and France. In addition, the euro is the world’s second largest reserve currency, accounting for 22.2% of the world’s total reserve currency (62.3% of the United States dollar).
Most Expensive No.7 Cayman – Cayman Dollar
Cayman Islands Currency Code:KYD
1KYD – $1.219
GDP per capita: around $56,000 (IMF).
Economic Review: The Cayman Islands, an overseas dependency of the United Kingdom in the Western Caribbean Islands of the Americas, consists of three islands: Grand Cayman, Lesser Cayman and Cayman Braque. The Cayman Islands is currently the fifth largest financial centre in the world after New York, London, Tokyo and Hong Kong, and is a famous offshore financial centre and “tax haven”, as well as a world-famous diving resort and tourist resort. Finance and tourism are its main sources of income.
The British navigator Francis Drake arrived on the island in 1586 and named it the Cayman Islands. In 1670 it became a British colony with Jamaica and was under the jurisdiction of the Governor of Jamaica. After Jamaica’s independence in 1962, it was converted into a British colony.
The Cayman Islands previously used the Jamaican currency for a long time. The Cayman Islands dollar was issued in 1971 and coins were issued in 1972. The Cayman Islands dollar is pegged to the United States dollar at a fixed rate of 0.835 Cayman dollars to the United States dollar with no foreign exchange controls. In the Cayman Islands, there are thousands of large global multinationals, large banks, hedge funds and insurance companies. In particular, the leadership of tax havens has kept the Cayman dollar high against the dollar. most expensive currency
Most Expensive No.8 United States – US dollar
U.S. currency code:USD
GDP per capita: $63,416 (IMF).
Economic evaluation: The United States dollar is the legal tender of the United States of America, the Republic of El Salvador, the Republic of Panama, the Republic of Ecuador, the Democratic Republic of Timor-Leste, the Republic of the Marshall Islands, the Federated States of Micronesia, the Republic of Kiribati and the Republic of Palau. The dollar notes in circulation are versions of the notes issued since 1929.
The current issuance of us dollars is controlled by the Federal Reserve System. Since 1913, the United States has established the Federal Reserve System and issued Federal Reserve bonds. More than 99% of the notes in circulation are Federal Reserve bills. It is worth mentioning that this dominance of the dollar in the international monetary system has brought great benefits to the United States:
First, it allows the United States to borrow from the world without restriction, but its debt repayments are unequal or simply irresponsible. Because its borrowing to other countries is denominated in United States dollars, it allows money-printing mills to print dollars without restraint, reducing their external debt burden even if they cause the dollar to depreciate, and stimulating exports and improving their balance-of-payments position. In addition, because of the strong economic strength of the United States, the investment environment is relatively stable, investment in the United States can bring more profits, so many people want to invest in the United States. And the arrival of a large amount of liquid dollar funds, so that its interest rates fall, to make up for the cost of the fiscal deficit has been compressed.
In general, when a country’s balance of payments deficit, the general economic policy adjustment. The United States does not have to do so. Because the dollar is an international currency, when the U.S. has a foreign trade deficit, the U.S. government can print U.S. dollars to make up the deficit, maintain the balance of the national economy, and pass on inflation to other countries. That’s the main reason why postwar America, despite decades of high fiscal deficits, has been able to keep its economy stable. Then there is the huge seigniment tax that the United States can obtain. After the collapse of the gold standard, the credit standard based on paper money replaced the gold standard; The dollar’s role as an international currency has brought great benefits to the United States. When a worthless note is printed by the state, the seigniment is equal to the value of the social product that the note can buy, and the difference is the “seigniment tax” of the United States.
The impact of the U.S. dollar on the gold market is two main aspects, one is that the U.S. dollar is the international gold market’s list currency, and therefore has a negative correlation with the gold price. Second, gold is an alternative investment vehicle for dollar assets. There is no denying that the dollar is the world’s leading reserve currency and one of the world’s leading trade settlement currencies, with almost 85% of transactions in dollars. Since the United States is a global economic and financial leader, the dollar has undoubtedly become the world’s main payment currency, making it one of the world’s most valuable currencies.
Most Expensive Money No.9. Switzerland – Swiss franc
Swiss currency code:CHF
1CHF – $1.0934
GDP per capita: $86,849 (IMF).
Economic evaluation: Switzerland, one of the central European countries, is mainly highland and mountainous, known as the “European roof.” Switzerland is rich in tourism resources and has a reputation as a world park, Bern is the seat of the Federal Government, Switzerland has historically been a permanent neutral country, and has not been involved in any local war since 1815 international wars (including World War I and World War II), but also involved in international affairs, and many international organizations are headquartered in Switzerland.
Switzerland is a highly developed capitalist country. Its GDP per capita has always been among the highest in the world, after Luxembourg and Norway in Europe. Switzerland is also one of the most stable economies in the world. The long-term nature of its policies, the secure financial system and the secrecy of banks have made Switzerland a safe haven for tax-avoiding investors. Because of the developed financial industry, the service industry also occupies an increasingly important position in the Swiss economy. Switzerland is one of the most stable economies in the world.
The World Economic Forum’s Global Competitiveness Report shows that Switzerland is the most competitive country in the world, and the EU report shows that Switzerland is the best performer in Europe. Switzerland has long been among the highest GDP per capita in Europe. In particular, in 2005, the median household income in Switzerland was CHF 96,500, and Switzerland has the highest current account as a percentage of GDP in the world.
Switzerland is home to the headquarters of many multinational companies, with the highest turnover in Switzerland being Vito, Glencore, Gonwall, Tocquet, Nestle, Novartis, Roche,ABB, Mokori and Deco, among others, are better known as UBS, Zurich Financial Services Group, Credit Suisse Group, Tetra Pak Packaging, Belle Garrett, Swiss Re and Swaqu group. Switzerland is also one of the world’s most influential economies. Switzerland is the more developed private sector in the Western world with lower tax rates and the lower total tax rate in developed countries.
It is worth mentioning thaton January 15, 2015, the Decoupling of the Swiss franc from the euro caused a shock in the global foreign exchange market and led to losses or failures of many brokers, investment banks. In Europe, the Swiss franc is widely used, and the currency, issued by the Swiss National Bank, is one of the top ten most valuable currencies in the world.
Most Expensive Currency No.10. Australia – Australian dollar
Australian currency code:AUD
1 AUD – $0.7387
GDP per capita: $52,825 (IMF).
Economic Evaluation : Is the only country in the world with a land area covering the entire continent , is the most economically developed country in the southern hemisphere , the 12th largest economy in the world , the fourth largest exporter of agricultural products in the world , and the world’s largest exporter of minerals is called the ” country sitting on a minecart ” . Australia is also the world’s largest stock of sheep and export wool, known as the “riding on the back of sheep.” Australia is the world’s largest producer of bauxite, alumina, diamonds, lead, tantalum, gold, iron ore, coal, lithium, manganese ore, nickel, silver, uranium, zinc and other production in the world. Australia is also the world’s largest exporter of soot, bauxite, lead, diamonds, zinc and concentrates, the second largest exporter of alumina, iron ore and uranium ore, and the third largest exporter of aluminum and gold.
The Australian dollar ranks fifth in international foreign exchange markets and is one of the most liquid currencies. As a result, Australia’s abundant natural resources support its economic growth and contribute to the international movement of the Australian dollar, accounting for about 6 per cent.
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