In this article we will cover top 10 expensive currencies in the world. In today’s world, every government tries to strengthen the economy of its state, with efforts of making the local currency powerful and competitive. When it comes to speak the word ‘currency’, we start believing that only euro and American dollars are dominating. To some extent it is true but the absolute truth is that there are other currencies as well that enjoy worldwide recognition and are said to be equally or more popular than euro and dollar.In the barter exchange system, individuals and businesses are round the clock involved in exchanging goods and services, and as a return they get similar quality goods and services. Gone are those days because the present era is all about selling goods or services and getting money in return.Today we will discuss 10 strongest currencies in the world.
10. Hong Kong Dollar
The Hong Kong dollar is commonly used in Hong Kong. As per 2014, it is one of the most traded currencies of the era. It is usually divided into 100 cents. In formal Cantonese, character used to represent it is 圓. The currency has seen fluctuations in its value in last few years, but now has gotten a stable and much better position in the list of expensive currencies.
9. Canadian Dollar
According to sources, the Canadian dollar holds more than five percent shares in the total transactions being done the world over on a daily basis. Until 19th century, different currencies like British pound, currency of France, and other ones tried to defeat Canadian dollar. As per April 2014, the Canadian dollar has gained excellent strength just because government of Canada has succeeded in creating various jobs for the worldwide job hunters.
8. Swiss Franc
Swiss Franc is the currency used both in Switzerland and Liechtenstein. It is also the unofficial currency of Italy, and is able to replace Italian Campioned’Italia and German Busingen. The currency comes in single version and is widespread all over Europe. The value of this money has become stable as compared to American dollar. Nowadays 1 CHF is around the $1.10 mark.
7. The Australian Dollar
The Australian dollar is the powerful currency of the Commonwealth of Australia, which consists of Christmas Island, Cocos (Keeling) Island, Norfolk Island, and the independent Pacific Island states of Kiribati, Nauru and Tuvalu. This currency has been strengthened since the time Australian government has provided world’s job hunters with suitable jobs. Also the tourist attractions of Australia have made it the hub of international visitors, thus strengthening the economy of this country. World’s seven percent shares to date are of Australian dollar. The currency is often called the “Aussie”.
6. Cayman Islands Dollar
Cayman Islands Dollar has one of the widely known currency codes, which is KYD. This has been one of prominent official monetary units of the Cayman Islands. The abbreviation includes $ or C/$ and this is what distinguishes it from the other currencies of the world which are presented in the form of dollars; for example, the US dollar and the Canadian dollar. This currency is one of most popular and powerful since the time when 1 KYD equaled $1.20 U.S. dollars.
5. UK Pound Sterling
The Pound Sterling of the United Kingdom is commonly called as Pound. It has been known to be the official currency of most parts of Europe. This is usually divided into one hundred pence. In order to have this currency, you really need to visit UK, and there you will realize how strong, prominent, and expensive currency of the world it is. When converted 1 GBP to U.S. dollar, it actually equals 1.5 American dollars to one UK Pound Sterling.
4. The Japanese Yen
The Japanese Yen has landed itself among the most highest currency in the world. As per the sources and stats, about twenty percent of the transactions in forex markets have involvement of Japanese Yen. The word‘Yen’is standing for ’round object’ in Japan.
3. Bahraini Dinar
Now comes the turn of Bahraini Dinar. It is the currency of Bahrain, and has one of the greatest values in terms of money. This currency is given high value because when we convert it, 1 BHD equals to several U.S. dollars. This is because overseas workers choose Bahrain as their destination for job opportunities. Also this land of the world, as per the 2011 Index of Economic Freedom, has free economy of the Middle East and North Africa.
.2 Kuwaiti Dinar
In Kuwait, the currency used is Kuwaiti Dinar. It is one of the highest value currencies of the world, and even giving tough competition to currencies of Europe and America. This is because Kuwait has been a giant producer of oil and coal which are sold to the worldwide countries at very high costs. The exchange rate of Kuwaiti Dinar is often fluctuating, but it usually remains higher than other currencies.
1. The U.S. Dollars
As per estimates, around ninety percent of the transactions in Forex market are done in American dollar, making it the best currency of the world. Till 1913, when the Federal Reserve System was established, multiple currencies were being used in America, but now the trend has been changed by the whole. After the financial panic of 19th century and early 20th century, America has invested heavy amount in worldwide establishment projects, thus strengthening its currency to much extent. These are the list of most expensive currencies in the world.please share your experience in our comment section.