Top 10 Highest Currencies In The World In 2022
8 Currencies Worth More Than The U.S. Dollar - Check The Complete List
Like the Indian rupee, the value of each country's currency keeps fluctuating up and down. Many factors affect the value of the currency of any country. For example, the value of the currency either decreases or increases depending on the inflation rate of that country, interest rate and monetary policies issued by the central bank as well as the economic and political stability of that country.
In today's article, we will get information about the top 10 highest currencies in the world. Talking about today's foreign exchange rate, at present 1 USD is worth more than 79 INR, but there are some other currencies whose value is higher than the US dollar.
So let's start a list of the top 10 highest currencies in the world.
10. Canadian Dollar (CAD)
The strength of this currency in the market can be gauged from the fact that it is the world's 6th most traded and 5th largest reserve currency. Apart from this, this currency also holds a lot of importance from the point of view of forex trading.
5% of daily trades in the global foreign exchange market are also done with this currency. The question comes to your mind: what is the secret of this Canadian dollar's strength?
So let us tell you that after Saudi Arabia, Canada is the only country that has crude oil reserves. Along with this, the credit of being the second largest supplier of uranium also goes to the country Canada. This is the reason why the market value of the currency of this country is very high. The value of 1 Canadian dollar is equal to 62.30 Indian rupees.
9. United States Dollar (USD)
The strength of the US dollar can be measured by the fact that this currency of America is called "Global Currency". Apart from being popular, the dollar has such dominance in the international market that it is seen as the most powerful currency in the world. Today, more than half of the world's population is fond of earning US dollars and the US dollar is preferred for business all over the world.
The dollar is also put on priority by commercial and central banks for currency reserves. The strength of the US Dollar can be gauged from the fact that today the value of one US Dollar is equal to 79.44 Indian Rupees. The per capita income of this country is much higher than that of India and this is the reason that more than 2 million Indians are settled in America in search of a good living standard.
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8. Swiss Franc (CHF)
The price of 1 Swiss Franc is equal to 1.05 US Dollars. At the same time, 1 Swiss franc in Indian rupees has become worth more than 83 according to today's rate. Switzerland is one of the richest countries in the world.
At the same time, the strict bank policy here is very famous all over the world. According to the report of 2020, (800,000) millionaires live in Switzerland only.
7. European Euro (EUR)
The value of 1 Euro is equal to 1.02 US Dollars, according to today's rate. At the same time, the value of 1 Euro in Indian Rupees has gone up to more than 80.
This currency is prevalent in many powerful and developed countries like Germany, France, Spain and Italy, etc. Being used officially in about 19 countries, it is also seen as the world's strongest currency.
After the US Dollar, the European Euro is most used for trading in the international market. The European Euro is the 2nd largest currency in the world reserved by central and commercial banks.
6. Cayman Island Dollar (KYD)
The Cayman Dollar comes at number 6 from the list of the top 10 highest currencies in the world. This currency is also called KYD in short. The value of 1 Cayman Dollar is equal to 1.20 US Dollar. At the same time, the value of a Cayman dollar in Indian rupees has exceeded 94.
The Cayman Islands are a group of three islands under the British Overseas Territories. This territory is also known as Tax Haven. Where there is no income tax, property tax, corporate tax etc. The population of this region is just 65,720.
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5. British Pound Sterling (GBP)
It is followed by the British Pound Sterling at number 5 which is GBP in short. The value of 1 British Pound is equal to 1.22 US Dollars. At the same time, 1 British pound in Indian rupees has become more than 97 according to today's rate.
The Anglo-Saxon Kingdoms of the UK used silver coins called sterlings which weighed the equivalent of a pound as currency in ancient times. That's why it is called Pound Sterling.
Today, different types of pounds are printed in different British colonies or territories that look different from Bank of England notes, but they are all acceptable.
4. Jordanian Dinar (JOD)
It is followed by the number 4 Jordanian Dinar which is also called JOD in short. The value of one Jordanian dinar is equal to 1.41 US dollars. At the same time, the value of one Jordanian dinar in Indian rupees has been close to 111. This country is neither an economically developed country nor does it have precious resources like oil etc.
Yet the Jordanian dinar currency is stronger because it is pegged to the US dollar which is tied to a fixed exchange rate with the US dollar. Now whatever changes will come in the US currency, will also affect the Jordanian Dinar.
A country can peg its currency to another country's widely accepted currency to maintain its financial stability, and currently, there is no other world reserve currency larger than the US dollar. The currency of about 66 countries of the world is pegged with the US dollar.
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3. Omani Rial (OMR)
After this, the third highest currency in the world is Omani Rial, which is called OMR in short. The value of one Omani Rial is equal to 2.60 US Dollars. At the same time, one Omani rial in Indian rupees has become equal to about 205.79.
Oman is a very developed country and country with a high quality of life. Oman's currency is also pegged to the US dollar.
2. Bahraini Dinar (BHD)
Bahraini Dinar is the 2nd highest currency in the world also known as BHD in short. The value of 1 BHD is equal to 2.65 USD. At the same time, one Bahraini dinar has been equal to about 210.18 Indian rupees.
Bahrain is a Persian Gulf country whose major exports are petroleum and petroleum products, aluminium, textiles, etc. The Bahraini dinar is also pegged with the US dollar.
1. Kuwaiti Dinar (KWD)
The Kuwaiti Dinar at the number (1) which is also called KWD in short. The Kuwaiti Dinar is the strongest currency as well as the highest currency in the world. One Kuwaiti Dinar is equal to 3.26 US Dollars. At the same time, the value of one Kuwaiti Dinar in Indian Rupees has been more than 258.
Kuwait is a very strong and stable economy based on its major petroleum exports. This is a small country which is very rich. The Kuwaiti currency was also pegged to the US dollar from 2003 to 2007 but is now pegged to a weighted currency basket.
Compared to the world's highest currency, the Kuwaiti Dinar, the world's weakest currency, the Iranian Real, one Kuwaiti Dinar is worth more than 1,37,838 Iranian Rials.
So, this is the list of the top 10 highest currencies in the world by value. Hope you get to know something interesting.
About the author
My name is kunal, I am enthusiastic writer from my childhood, and I am passionate about my work, and I love to write articles on different topics, mainly top 10 lists based articles on different topics.