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25 Most Expensive World Currencies In 2019

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25 Most Expensive World Currencies In 2019 Empty 25 Most Expensive World Currencies In 2019

Post by Adminkunlex on Sat Nov 23, 2019 9:22 pm

If you are asked in a gallop up poll that which
currency is the most expensive in the world today,
most people would say that the British pound is the
highest currency; however, it is not.
This is why Naijadriva has compiled the list of the
strongest world currencies (Dated November 22 2019)
. Please note that all exchange rates are official
figures and not that of “black market”.
Is the high value of the currency a sign of a strong
economy?
Japan is one of the strongest economies in the world
but the value of the Japanese yen is very small, $ 1 =
¥ 109.77.
The high value of the currency only says that inflation
processes in the country are under control.
Also, due to the changing economic and political
situation in the world, it is hard for some currencies to
remain in this ranking.
These are the most expensive currencies:
1.
Kuwaiti Dinar
Currency code – KWD
1 KWD = 3.29 US Dollar (USD)
1 KWD = 2.55 Pounds Sterling (GBP)
1 KWD = 1,193. 65 Naira
Kuwait is an oil rich country, having the sixth large oil
reserves in the world. It shares borders with Iraq and
Saudi Arabia . As of 2016, Kuwait has a population of
4.5 million people: 1.3 million are Kuwaitis and 3.2
million are expatriates. Expatriates account for 70% of
the population.
2. Bahraini Dinar
Currency code – BHD
1 BHD = 2.65 USD
1 BHD = 2.05 Pounds Sterling
1 BHD = 961.39 Naira
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 are the
oil exports. Their exchange rate has remained stable
since 2005.
3 –
Omani Rial
Currency code – OMR
1 OMR = 2.60 USD
1 OMR = 2.01 GBP
1 OMR = 941.55 Naira
Oman is an oil rich small country on the Arabian
Peninsula, just north of Saudi Arabia. Thanks to its
strategic location, it possesses a developed economy
and a high quality of life.
It is remarkable that purchasing power of this
currency is so high that the government had to issue
1/4 and 1/2 Rial banknotes.
4.
Jordan Dinar
Currency code – JOD
1 JOD = 1.41 USD
1 JOD = 1.09 GBP
1 JOD = 511.29 Naira
Jordan is a country bounded on the west by Israel,
and North by Lebanon. 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 Dollar,
what makes it one of 10 the strongest world
currencies.
5–
British Pound Sterling
Currency code – GBP
1 GBP = 1.26 USD
1GBP = 468.29 Naira
Most people think that British Pound of the Great
Britain (England, Scotland and Northern Ireland) is the
strongest world currency, but it is only one of the top
five of this list.
British Colonies issue their own banknotes, which
visually differ from banknotes issued by the Bank of
England, but they are valued as 1 per 1.
Therefore, there are several such as: Scottish, North
Ireland, Manx, Jersey, Guernsey, Gibraltar Pounds, as
well as St. Elena Island Pound and Falkland Islands
Pound.
Counter intuitively, Native Britons do not always
want to accept Pounds as a means of payment. The
Euro is also used and accepted in the UK pending
when they leave Eurozone via Brexit.
6.
Gilbratar Pounds Sterling
Currency Code – GIP
1 GIP = 1.26 USD
1 GIP = 468.37 Naira
Gilbrartar is a British Territory bounded in the north by
Spain. It has about 32,000 inhabitants with lowest
unemployment rate of 1%.
When Celine Dion did a song with the lyrics, “I would
build the walls of Gilbrartar for you…” we at
Naijadriva thinks she is referring to the currency of
Gibraltar because money is a defence, according to
the Holy Bible and a wall is a sort of defence.
Gibraltar’s economy is dominated by four main
sectors: financial services, online gambling, shipping,
and tourism, which includes duty-free retail sales to
visitors.
7. Cayman Islands Dollar
Currency code – KYD
1 KYD = 1.20 USD
1 KYD = 0.93 GBP
1KYD = 434.34 Naira
Cayman Islands is one of the world’s best tax havens.
These islands provided licences for hundreds of banks,
hedge funds and insurance companies. No wonder
corrupt politicians, the rich and criminals alike stash
their loot in Cayman Islands and Panama.
8.
European Euro
Currency Code – EUR
1 EUR = 1.14 USD
1 EUR = 401.23 Naira
Countries That Use the Euro The eurozone consists of
19 members (out of 28) who are EU members and
use the euro. They are Austria, Belgium, Cyprus,
Estonia, Finland, France, Germany, Greece, Ireland,
Italy, Latvia, Lithuania, Luxembourg, Malta, the
Netherlands, Portugal, Slovakia, Slovenia, and Spain.
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. Britain however wants to exit
the Eurozone via Brexit.
In addition, Euro is the second reserve world currency
enveloping 22.2% of all world savings (US Dollar has
62.3%).
9–
Swiss Franc
Currency code – CHF
1 CHF = 1.04 USD
1 CHF = 0.78 GBP
1 CHF = 365.01
Switzerland is not only one of the richest countries in
the world, but it is also one of the most stable. Its
banking system had long been known for its formerly
resolute bank secrecy.
Besides, its high-tech goods are very well known all
around the globe, like watches and so on.
10 – US Dollar
Currency code – USD
1 USD = 1.00 USD
1 USD = 0.77 GBP
1 USD = 362.50 Naira
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 the world.
11.
Canadian dollar
Currency code – CAD
1 CAD = 0.75 USD
1 CAD = 0.58 GBP
1 CAD = 272.87 Naira
The Canadian Dollar is the fifth largest reserve world
currency. Canadian dollar is often called the “loonie”
in honor of the bird depicted on the coin worth 1
dollar.
12.
Australian dollar
Currency code – AUD
1 AUD = 0.73 USD
1 AUD = 0.53 GBP
1 AUD = 246.03 Naira
Australia is a country as well as a continent. The new
series of Australia banknotes have a tactile feature
(Braille) to help the visually impaired community to
tell the value of the banknote.
Also in Australia, the fight against cash is conducted
by reducing the share of cash payments when
making small retail purchases.
13.
Bruneian Dollar
Currency Code – BND
1 BND – 0.73 USD
1 BND – 0.57 GBP
1 BND – 265.80 Naira
Brunei is a country ruled by the Sultan of Brunei. Just
like Saudi Arabia, they are a Muslim country that is
rich in Oil. The Sultan of Brunei commands immense
wealth and one of his sons is a friend to American
Singer Usher Raymond and at a time Bought him gifts
worth millions of US dollars.
14. Singaporean Dollar
Currency Code – SGD
1 SGD = 0.73 USD
1 SGD = 0.57 GBP
1 SGD = 265.80
Singapore is a city-state in Asia. One of the Asian
Tigers, it is the only country in Asia with an AAA
sovereign rating from all major rating agencies, and
one of 11 worldwide. Singapore is a highly developed
country and is ranked 9th on the UN Human
Development Index, the highest in Asia for a
sovereign state , with the 7th highest GDP per capita
in the world. It was ranked the most expensive city
to live in from 2013 to 2019 by the Economist . It is
identified as a tax haven. Singapore is placed highly
in key social indicators: education , healthcare ,
quality of life, personal safety and housing, with a
home-ownership rate of 90%.
15.
Libyan Dinar
Currency code – LYD
1 LYD = 0.72 USD
1 LYD = 0.55 GBP
1 LYD = 258.01 NGN
The Libyan Dinar has token money called Dirham. It is
interesting that one Dinar is equal to 1,000 Dirham,
and not 100, as we all used to think. Their population
is about 6.6million (2008 est.) and crude oil export
accounts for 95% of their economy.
1

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25 Most Expensive World Currencies In 2019 Empty Re: 25 Most Expensive World Currencies In 2019

Post by Adminkunlex on Sat Nov 23, 2019 9:23 pm

16. New Zealand Dollar
Currency Code – NZD
1 NZD =0.64 USD
1 NZD = 0.50 GBP
1 NZD = 231.86 Naira
New Zealand is a country in the Pacific ocean. It is
dependent on international trade which accounts for
24%. Tourism contributes $12.9 billion (or 5.6%) to
New Zealand’s total GDP and supporting 7.5% of the
total workforce in 2016. International visitor arrivals
are expected to increase at a rate of 5.4% annually
up to 2022.
17.
Azerbaijani manat
Currency code – AZN
1 AZN = 0.59 USD
1 AZN = 0.46 GBP
1 AZN = 213.24 Naira
You would be surprised to see Azerbaijani manat in
this list. However, the currency of this Central Asian
country is a little bit weaker than US Dollar.
The economy of this country is surprisingly strong,
and its unemployment rate is low.
18.
Bosnian – Herzegovina Convertible Marks
Currency Code - BAM
1 BAM -0.57 USD
1 BAM – 0.44 GBP
1 BAM – 205.05 Naira
Bosnian Convertible Marka is the currency of Bosnia
and Herzegovina an European country.
19.
Arubian Florin
Currency Code – AWG
1 AWG = 0.56 USD
1 AWG = 0.43 GBP
1 AWG = 201.40 Naira
Aruba is a small Dutch (Netherlands) Colony. The
Dutch Guilder or Arubian Florian is their official
currency.
20.
Fijian Dollar
Currency Code – FJD
1 FJD = 0.46 USD
1 FJD = 0.35 GBP
1 FJD = 165.51 Naira
Fiji, a country in the South Pacific, is an archipelago of
more than 300 islands, but not all are inhabited. It is
famed for rugged landscapes, palm-lined beaches and
coral reefs with clear lagoons.
Endowed with forest, mineral, and fish resources, Fiji
is one of the most developed of the Pacific island
economies, though still with a large subsistence
sector . Tourism is also contributes significantly to
their economy too.
21.
Chinese Yuan Renminbi
Currency Code – CNY
1 CNY – 0.14 USD
1 CNY – 0.11 GBP
1 CNY = 51.52 Naira
China is the most populous country in the world, with
about 1.4 billion inhabitants (2018 est) occupying the
4th largest nation by landmass. According to official
data, China’s GDP in 2018 was 90 trillion Yuan ($13.28
trillion). Since 2010, China has been the world’s
second-largest economy by nominal GDP and since
2014, the largest economy in the world by purchasing
power parity (PPP). China is also the world’s largest
exporter and second-largest importer of goods.
22. Danish Krone
Currency Code – DRK
1 DRK = 0.15 USD
1 DRK = 0.11 GBP
1 DRK = 53.69 Naira
Denmark is one of the Scandinavian countries
(Denmark, Sweden and Norway, Finland, Iceland with
archipelagos).Denmark is considered to be one of the
most economically and socially developed countries in
the world. Danes enjoy a high standard of living.
prosperity, and human development. The country
ranks as having the world’s highest social mobility , a
high level of income equality, has the lowest
perceived level of corruption in the world , the
eleventh-most developed in the world , has one of
the world’s highest per capita incomes , and one of
the world’s highest personal income tax rates.
According to the International Monetary Fund,
Denmark has the world’s highest minimum wage,
more than double of that of USA.
23.
Malaysian Ringgit
Currency Code – MYR
1 MYR = 0.24 USD
1 MYR = 0.19 GBP
1 MYR = 53.69 Naira
Malaysia is an Asian Country with a palm oil based
economy. The palm oil seeding they used to launch
their economy was gotten from Nigeria many years
ago. It is noteworthy to note that a barrel of palm oil
is more expensive that a barrel of crude oil (Nigeria’s
major income).
24. South African Rand
Currency Code – ZAR
1 ZAR = 0.053 USD
1 ZAR = 0.068 GBP
1 ZAR = 24.70 Naira
Its economy is the second-largest in Africa, after
Nigeria and the 33rd-largest in the world . In terms of
purchasing power parity , South Africa has the
seventh-highest per capita income in Africa. However,
poverty and inequality, and corruption remain
widespread, with about a quarter of the population
unemployed and living on less than US$1.25 a day.
Agriculture, manufacturing, tourism are some of their
revenue generating sectors.
25.
Swedish Krona
Currency Code –
1 SEK = 0.10 USD
1 SEK= 0.081 GBP
1 SEK = 37.70 Naira
Sweden is also one of the Scandinavian countries. It
has a population of 10.3million
Sweden’s engineering sector accounts for 50% of
output and exports, while telecommunications, the
automotive industry and the pharmaceutical
industries are also of great importance. Sweden is the
ninth-largest arms exporter in the world .
Agriculture accounts for 2% of GDP and employment.
The country ranks among the highest for telephone
and Internet access penetration.
Sweden is home to Volvo Cars and heavy
equipment.
Please note that Naijadriva learnt that it is not
allowed to use banknotes without the “SPECIMEN”
title.
Source:


https://naijadriva.wordpress.com/2019/11/22/top-25-most-expensive-world-currencies-in-2019/

Adminkunlex
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