Highest Currency Value in the World. Part -1

The highest currency value in the world is a topic that many are interested in. It's fun to learn about and it's even more fun to talk about, especially with those who are interested in learning from your experience. In today's article I share what I believe is the highest currency value in the world using historical data and research.

1. Kuwaiti Dinar

The highest currency value in the world is the Kuwaiti Dinar with a value of 1,000 dinars to the dollar. In order to obtain the highest value, one must have Kuwaiti gold or silver coins.

The Kuwaiti Dinar was introduced on January 1, 1993. The new currency replaced the old dinar at par with a rate of 1 million dinars = 1 US dollar. The new dinar had a value of 1000 dirhams (about US$500), but it was later devalued to 1000 fils or 0.7 US dollars in January 1995 when it was pegged to the U.S. dollar at 0.693 dinars per dollar.

The highest-value banknote available today is the 10 Dirhams banknote, which was introduced in 2004 and is worth about $2,800 at current rates.


2. Bahraini Dinar

The highest-valued currency in the world is the Bahraini Dinar, which was created in 1975. The dolar is the official currency of Bahrain and has been used since 1877. The Bahraini dinar has a nominal value of 1 dinar and an exchange rate of 3.165 Bahraini dinars per U.S. dollar as of October 2018.

The Bahraini Dinar is also one of the oldest currencies in use today, with its first issue dating back to 1791 when it was known as the “Imperial Ottoman Currency” or “Imperial Ottoman Shilling” or “Imperial Ottoman Lira” (depending on which country you are from). In 1877, it became the official currency of Bahrain after being issued by Muhammad Al-Khalifa and his government.

The currency was reissued in 1975 to replace half-dollars issued before World War II by Britain during their occupation of Bahrain under King Abdulaziz Al Saud (who would later become King Ibn Saud Al Saud).


3. Omani Rial

The Omani rial is the highest-valued currency in the world, with a value of 1.22 to the U.S. dollar compared to the Saudi riyal's 1.18. The Omani rial is pegged to the US dollar, so it has no official exchange rate but can be easily converted into dollars at any bank or exchange office in Muscat or Salalah.

The Omani rial was introduced on Nov. 5, 1970 by Sultan Said bin Taimur who was ruling Oman at the time. The primary goal of introducing this currency was to make it easier for expatriates working for oil companies in Gulf Cooperation Council countries to return home with their hard-earned money rather than having to use foreign currencies.

Omani rials can be bought from banks and exchange offices but should not be exchanged at international airports because they are not accepted there.


4. Jordanian Dinar

The Jordanian Dinar is the highest-valued currency in the world. It is pegged to the US Dollar and is used as legal tender in Jordan, which means that it must be accepted as payment for all debts and taxes.

The Dinar was first issued by King Hussein in 1961 and replaced a series of currencies that had been used by Jordan since 1948. It has a fixed exchange rate with the US Dollar, meaning that it does not fluctuate with market forces like other currencies do.

The value of the Jordanian Dinar is set by a committee of experts from Jordan's central bank who meet every three years to decide how much each unit should cost. The last time they met was in August 2015, when they decided to raise it by 0.025 million dinars (about $0.59). This makes it worth approximately $1 USD per Jordanian Dinar at current exchange rates.