Top 10 Most Expensive Currencies in the World

This list is ranked as per their value against Dollar. Most valuable currency doesn’t necessarily mean that the currency is better investment option or that it represents a better economic health of a nation. Some of the currencies listed here have been replaced by Euro. Have a look at the top 10 most expensive currencies in the world.

 

 

10. Cayman Islands Dollar

1 KYD = 1.21 USD

With no direct taxation, the islands thrive as an offshore financial center, with hundreds of banks, insurers and mutual funds. One Cayman Islands Dollar equals $1.21 US.

 

 

9. Jordanian Dinar

1 JOD = 1.4118 USD

Jordan may lack water and crude oil but the Mid-east kingdom has one thing going for it – a strong currency.

 

 

8. Euro

1 Euro = 1.482 USD

Officially introduced in 1999, the multinational Euro didn’t begin changing hands until January 2001. After a rocky start, the Euro has gained on the dollar for years.

 

 

7. UK Pound Sterling

1 GBP = 2.068 USD

This holiday season, it seems now more than ever, citizens of the UK are taking advantage of their favourable exchange rate and coming to the US, where for them everything is half-off.

 

 

6. Latvian Lats

1 LVL = 2.135 USD

One Lats is currently worth $2.135 US. The country, about the size of West Virginia, has entered the process to phase out the Lat in favor of the Euro, which is expected to be the official currency around 2012.

 

 

5. Cypriot Pound (discontinued)

1 CYP = 2.53 USD

With the small island nation relying heavily on tourism, one wonders whether people would more willingly loosen their wallets if it wasn’t the home of the world’s fifth most valuable currency. Cypriot pound was replaced by Euro in 1, January, 2008.

 

 

4. Omani Rial

1 OMR = 2.60 USD

Oman, a country on the east coast of Africa, has had its currency exchange rate pegged to the dollar at a rate of 1 OMR = $2.60 US since 1986. With that pegged relationship holding firm, seems as though the Rial’s fate remains tied to the fate of the dollar.

 

 

3. Bahraini Dinar

1 BHD= 2.66 USD

A small island nation, approximately 3.5 times the size of Washington DC, Bahrain is geographically central in relation to its Persian Gulf neighbours. Its industry relies on petroleum production and refining, as well as financial services and construction. With an exchange rate to the US dollar at around $2.66 for one Bahraini Dinar, it’s the third most valuable currency in the world. It’s also expected to be relatively steady, as it was officially pegged to the dollar in 2001.

 

 

2. Maltese Lira (discontinued)

1 MTL = 3.50 USD

The Maltese pound or lira was the currency of Malta until 31 December 2007. The lira was abbreviated as Lm, although the traditional ₤ sign was often used locally. In English, the Maltese currency was referred to as the pound originally and for many locals this usage continued.

The euro replaced the Maltese lira as the official currency of Malta on 1 January 2008 at the irrevocable fixed exchange rate of 0.429300 MTL per 1 euro.

 

 

1. Kuwaiti Dinar

1 KWD = 3.65 USD

In an area slightly smaller than New Jersey, lies the home of the world’s most valuable currency. Kuwait has been involved in talks this year with five other Gulf Arab monarchies to form a single currency. The Kuwait currency is currently pegged to the dollar.

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