Switzerland is not easy to find on the map, but the country's currency is the strongest in the world. At the beginning of February 2006, 1 Swiss franc cost 21.9 rubles, and ten years later it rose in price to 73.74 rubles, strengthening by 236.7%. This currency is in great demand among wealthy people. It is not for nothing that all Swiss banks are considered the most reliable in the world.
However, market analysts are inclined to believe that the Swiss franc is greatly overvalued. In January 2015, the local Central Bank canceled the peg to the euro - and in 10 minutes the currency rose in price by 20-30%. A strong franc hurts the local economy as goods produced locally have become expensive for foreign consumers. The authorities want to weaken their currency, but so far they have not been very successful.
The Chinese yuan came in second place. Until July 2005, this currency was pegged to the US dollar, but in recent years the local government has embarked on a controlled devaluation of the yuan in order to increase economic growth. Despite all the weakening, the yuan has risen in price against the ruble by 228.1% over ten years. From October 1, 2016, the yuan will become the world's reserve currency. Russian banks already offer deposits in yuan, on which you can earn up to 4.25% per annum.
The Israeli shekel became the third most reliable. This currency has strengthened against the ruble by 215.9% over ten years. The shekel exchange rate is floating, but stable - over ten years it has fallen slightly in price against the dollar.
The American currency was only in seventh place. The dollar/ruble exchange rate has strengthened by 169.6% since 2006. Ahead were the Thai baht (+195.7%), Brunei dollar (205.9%), Singapore dollar (+206.1%), and the Bolivian Boliviano (+211.17%), the existence of which many Russians don’t even know knew.
Top 10 strongest currencies in the world
| № | Currency | Cost as of February 1, 2006, rub. | Cost as of February 1, 2016, rub. | Growth against the ruble over 10 years |
| 1 | Swiss frank |
21,9 | 73,74 | 236,71% |
| 2 | CNY  |
3,48 | 11,42 | 228,16% |
| 3 | Israeli shekel  |
6,02 | 19,02 | 215,95% |
| 4 | Bolivian Boliviano  |
3,49 | 10,86 | 211,17% |
| 5 | Singapore dollar  |
17,3 | 52,97 | 206,18% |
| 6 | Brunei dollar  |
17,3 | 52,92 | 205,90% |
| 7 | Thai baht  |
0,71 | 2,1 | 195,77% |
| 8 | U.S. dollar  |
28,13 | 75,84 | 169,61% |
| 9 | Japanese yen  |
0,23 | 0,62 | 169,57% |
| 10 | UAE dirham  |
7,65 | 20,55 | 168,63% |
The most expensive currency was the Kuwaiti dinar, which on February 1, 2016 was sold on the stock exchange at 247 rubles. 89 kopecks per unit. However, its growth against the Russian currency was 157.5% (18th place). The euro has gained weight over ten years by 140.6% (25th place), and the British pound by 115.72% (32nd place).
Dollar check
If the dollar is used as the initial currency, then among the top ten leaders the Chinese yuan will come out on top, having strengthened against the dollar by 24.8%. The Swiss franc came in second with 20.3%. The third, as in the main study, was the Israeli shekel, which added 14.8%. It is also confirmed that the Thai currency turned out to be stronger than the American one - it grew by 8.7%.
Why does the ruble always weaken?
The national currency is a mirror of the wealth and development of the economy, says Sergei Alin, deputy director of the analytical department of the Okay Broker investment company. According to him, the ruble is highly dependent on the cost of oil. The solution to the problem can only be diversification of the economy and improvement of the investment climate.
“The ruble is mainly weakening against other currencies due to high inflation. It is a consequence of the rapid growth of tariffs of natural monopolies, the expectations of the population and the fall in prices for raw materials, primarily energy resources,” says Natalya Levina, Deputy Chairman of the Board.
Invest wisely
Sergey Alin argues that investing in foreign currency in order to protect savings for the next 10 years will definitely pay off. The expert recalls that after the 1998 crisis, the dollar rose in price from 6 to 21 rubles, and today it is already close to 80 rubles.
If the market situation heats up to the limit, then it is logical to keep part of the funds not in the bank, but in “paper” form, the expert advises.
“No one knows what will happen in the world on the horizon in 10 years. For example, not a single specialized analyst predicted a sharp drop in oil prices to $27 per barrel. To protect your savings, you need to diversify your portfolio by investing in US dollars, rubles, highly liquid stocks and gold,” warns Natalya Levina.
The head of the analytical center Sravni.ru Vadim Tikhonov also recommends diversifying risks by investing in several assets. Relying only on dollars is risky, since the US currency has periods of growth and weakening. Each such cycle lasts approximately 15 years, the expert recalls.
Where to buy rare types of currency?
Many exotic currencies can be purchased from Russian banks. For example, this applies to Swiss francs, yuan, Japanese yen, Israeli shekels, etc. “The main thing is to buy currency in a real representative office of a bank, and not in an incomprehensible exchanger at a metro station or in a tent, etc. It is better to spend time and compare, choosing the most advantageous offer. Of course, if you are going to buy currency for the long term, then it is not necessary to chase a difference of several tens of kopecks,” advises Sergey Alin from Okay Broker Investment Company.
The ideal option is to place your savings in 2-3 types of foreign currencies.
For those who need larger sums, it is more profitable to go shopping in a country where the required currency is in circulation. For example, it is more logical to buy Thai baht in Thailand, and dirhams in the UAE. In this case, you will first have to buy American dollars with rubles. If you go somewhere with rubles, the losses on the exchange rate will be significant.
Experts do not recommend buying euros if you are not a frequent visitor to the eurozone - the countries of the European Union are experiencing an economic crisis. It is better to bet on the Singapore dollar, yuan and Swiss franc.
Currency is a product expressed in foreign money (cash, non-cash). The money we hold in our hands every day can buy a lot: food, clothing, tickets, services.
For the common man, happiness does not lie in money, but it does bring stability. It’s the same for the state: the more expensive and stable the currency, the more positive solutions for the economic situation. Let's talk about the impact on the value of money and present the ranking of the most expensive currencies.
Factors influencing the world value of currencies
Economists separate the concept of “currency” from “money”, since the latter term can be applied to goods if they are used for payment.
There are three types of currencies:
- foreign;
- collective;
- national.
A collective currency is one that is used simultaneously by several states as a national one. The best modern example is the euro.
Many citizens follow financial news daily from magazines, newspapers, and exchange rates. The cost of goods imported into Russia increases if foreign currencies rise against the ruble. Today everyone knows about this. But what influences the price increase?
The first system of currency relations was found in ancient times. They are based on:
- issuance of national means of payment;
- convertibility;
- currency control systems;
- size of gold reserves;
- rules of international payments.
The main reason for the exchange rate change is a decline or increase in demand. Supply has an additional impact. These complex mechanisms operate under the influence of the following factors:
- activity or passivity of the balance of payments in the country (passive encourages repaying debts in foreign currency by selling national currency);
- rising inflation (increasing money supply);
- speculation in foreign exchange markets;
- demand for a means of payment in international markets.
Political stability and the economic development of the country play a significant role in changing the course. We present the top 10 most expensive currencies in relation to the dollar and other currencies.
Rating of the most expensive currencies
To find out how stability affects the price of a payment item, let’s find out which currency is the most expensive.
10th place – Singapore dollar
Singapore began issuing its own money in 1967, pegged to the British pound. The country, being one of the poorest and most dependent in Southeast Asia, today ranks first in the ranking of economic freedom. The well-being of citizens is growing, they afford expensive cars and real estate.
Interesting fact: it can replace the Brunei dollar at a ratio of 1 to 1. This agreement has been in effect unchanged for decades.
The inflation rate is 1.2%. The Bank of Russia sets the exchange rate for the Singapore currency on a daily basis.
9th place – Brunei dollar
A 500 Brunei dollar banknote is equivalent to 21,000 rubles
Its official name is ringgit, but this word is almost never used, and the currency symbol is often replaced by the $ symbol. As Singapore's main partner, Brunei has pegged its currency to the Singapore dollar. Today, citizens have the right to exchange 1:1, just like decades ago.
The Brunei ringgit is the most valuable currency in Southeast Asia. It is noteworthy that both Singapore and Brunei are tiny states. The country has a developed economy based on the extraction and processing of expensive natural resources.
8th place – Australian dollar
Australian dollars printed on thin plastic
Despite Australia's remoteness from major continents, the dollar is one of the world's strongest currencies. They are printed not on paper, but on plastic, which makes them expensive and recognizable. Modern banknotes have the highest degree of security, raised signs for the blind.
It consistently ranks among the top ten most traded monetary units in the world economy. Australia is a stable and wealthy country. In terms of purchasing power parity, citizens are superior to residents of Germany and the UK. The main principle of stability is freedom to do business.
7th place – US dollar
The 10,000 US dollar note is still valid today and is considered legal tender.
It is the monetary unit of states:
- Salvador;
- Zimbabwe;
- Marshall Islands.
Additional function – reserve. According to the largest economic agencies, the share of dollar transactions between banks in the world is 41%. Today, the reserve currency is not backed by anything. The role of the Central Bank is performed by the Federal Reserve System (FRS). It operates not on the basis of the laws of the country, but as an independent agency. Under its roof it unites twelve federal banks. The Fed issues loans to national banks of other countries at 1% (the last rate increase occurred in March 2017).
The largest bill has a face value of 100 dollars. The country produces 35 million banknotes every day.
6th place – Swiss franc
Time passes, the world goes through wars and revolutions, and Swiss francs are still highly valued. They are in circulation in Switzerland and Liechtenstein.
Switzerland adhered to the gold parity until the very end. After the global crisis of 1932 (the Great Depression) occurred, the franc fell by 30%. After the end of World War II, it was tied to the American one, but this measure was canceled in 1973. Since then, the exchange rate of the American currency has fallen against the Swiss currency by more than 4 times.
It is used as a means of payment by banks less often than the Russian ruble, but the stability and stability of the economy allows the franc to be used as an expensive reserve currency. The inflation rate is so insignificant that it is taken as zero.
5th place – Euro
The ECB has stopped issuing 500 euro banknotes, but they will remain a means of payment.
EU countries decided to introduce a single currency in 1999. Since then it has shown stability, the inflation rate is 2%. As a national coin, it is in circulation in 28 countries, only 19 of which are part of the Eurozone.
The European Union is a territory of stable income for citizens and economic growth. The introduction of a single means of payment made it possible to reduce the risks associated with convertibility. Due to the fact that the share of euro transactions between banks in the world exceeds 30%, it is included in the reserve category. However, the euro is not the most expensive currency in Europe.
4th place – British pound
The British pound is the strongest currency in Europe
Despite popular myth, the British pound is not the most valuable currency in the world. He holds the palm in Europe. Used as national banknotes throughout the kingdom and its maritime territories.
The stability of the country's economy and low inflation level (the last time the report was published in the spring of 2018, it was 1.2%) allows it to maintain its significance in the system of international payments.
The pound sterling has been the main reserve currency for several centuries. Its popularity declined sharply after World War II with the advent of the dollar era. The currency pair pound sterling - euro is exchanged in a ratio of 1:1.11.
3rd place – Omani rial
The Omani rial exchange rate is not free. It is pegged to the US currency and fluctuates depending on changes in world markets.
Oman is a wealthy state on the shores of the Arabian Sea. It exports expensive oil, gas, and metals. The population is small, lives stably, and receives benefits. Currently, Oman is focusing on the tourism sector to support the economy. A wealthy Omani can take out a loan to build a hotel at a small interest rate.
2nd place – Bahraini dinar
At the end of the 50s of the last century, the Indian rupee was in circulation in the Persian Gulf countries. She held her position for a long time. Bahrain only issued its own money in 1965.
The monetary policy of most Eastern monarchies is based on a peg to the American dollar, which makes money stable. For them there is no concept of “the most expensive course”. If the US currency rises, the dinar tends to rise.
Interesting fact: the Jordanian dinar is actually pegged not to the dollar, but to a unit of the International Monetary Fund, the Special Drawing Rights. This money circulates only within the IMF; banknotes are not printed.
Bahrain is actively developing its offshore sector as oil reserves are running low.
1st place – Kuwaiti dinar
Banknote of 1 Kuwaiti dinar equal to approximately 3.3 US dollars
The most expensive currency in the world for 2020 is the dinar of the State of Kuwait. The average exchange rate to the ruble: 1:220. It is 3 times stronger than the US dollar.
Kuwait has been at war with Iraq for a long time, either issuing new banknotes or declaring them invalid. Currently, the country ranks 7th in the world in terms of GDP. The reason for the rapid recovery is oil exports. Kuwait adopted the US dollar as a peg, but after two devaluations it abandoned this policy.
The dinar is tied to the monetary units of a multicurrency basket. It includes the currencies of Kuwait's partner states. Financial policy allows the dinar to maintain its leadership.
We hold these small pieces of paper in our hands every day. They give us access to any product or service. But the question is: how much or how little can money buy?
A person, as a rule, usually does not talk about the cost of banknotes, but about the price of the product itself. In fact, the value of money becomes known after comparing it with the money of other countries. There are currently about 180 currencies in the world. What is the most expensive currency? Many are ready to assume that the euro, or, in extreme cases, the British pound sterling. Actually this is not true. Experts regularly compile ratings of the most expensive money and, in particular, their value in relation to the ruble. It should be noted that every year the leadership is held by the same ones.
Leading currency
Meanwhile, the top positions in the ranking are occupied by money from oil-producing countries in the Middle East. By the way, they plan to unite and create their own single currency, which will be akin to the euro. But the value of such money remains a mystery, given the fact that, for example, in Kuwait, every fifteenth resident is a millionaire.
The most expensive currency “smells” of oil
So, the most expensive currency in the world is the Kuwaiti dinar (currency code - 414, letter code KWD). For one such money you can get 88.59 rubles (as of April 1, 2008) or 3.75 dollars. By the way, in the relatively distant year 1984, one Kuwaiti dinar cost 2.79 rubles or 3.28 US dollars. That is, the banknotes have held the leadership for more than a dozen years.
The Kuwaiti dinar came into circulation in 1961. Then it replaced the Indian rupee. Kuwait revalued its currency in 2006 by 1 percent against the dollar. Therefore, the exchange rate of the American currency fell to 0.29 dinars per unit. But already in mid-2007, the Kuwaiti dinar exchange rate was not pegged to the dollar, which was replaced by a multicurrency basket.
Bahraini Dinar
Another currency on the list of the most expensive is the Bahraini dinar (currency code BD or BHD). In 1966-1973, this money was the national currency of the United Arab Emirates. They were then replaced by the UAE dirham.
The Bahraini dinar entered the market in 1965 and then replaced the Gulf rupee. This dinar was pegged to the US dollar in 1987. And in relation to other world currencies, in particular the Russian ruble, the Bahraini dinar fluctuates along with the dollar. The cost of the currency is 62.36 rubles.
Omani rial
This is the monetary unit of the state called Oman. The international currency designation is OMR. By the way, on banknotes you can find an inscription in English on one side and in Arabic on the other.
The coins were put into circulation without an English designation. The money of this state will cost Russians 61.08 rubles.
Latvian lats
The Latvian armor circulated on the territory of Latvia from 1922 to 1940. And then it came into circulation only in 1993, after the state gained independence. After the Maltese lira and the Cypriot pound were replaced by the euro, the Latvian lat became what is called the “heaviest” currency of the European Union. At the beginning of 2009, the pound sterling was 15 rubles lower than the lat.
GBP
This is the UK currency. Currency code – UKL or GBP. It is worth noting that banks in individual territories that are part of the country issue banknotes with their own designs. And formally, every banknote is accepted by all UK banks.
Which currency can you trust?
The name pound sterling was finally assigned to the currency in 1694. At that time, the Bank of England had just issued the first money. In the 18th and 19th centuries, the pound sterling was the main reserve currency in almost all countries. But after World War II, the pound lost its status as the most significant currency. This happened after the money of the United States of America began to dominate the world economy. However, in 2006, the pound sterling again became the third most common reserve currency. Banknotes have gained particular popularity in recent years. Their price is 53.21 rubles per unit.
But further down in price are the so-called Special Drawing Rights (code - XDR). This is an artificial reserve and payment instrument that is issued by the IMF. It has only a non-cash form - entries in bank accounts. No banknotes were issued. In addition, the SDR has a limited scope of use; it circulates only within the IMF and is used to repay IMF loans, replenish reserves, regulate balances and cover balance of payments deficits. Special drawing rights appeared in 1696. Now the cost is 38.69 rubles. The XDR rate is now published daily. It is determined based on the dollar price of a basket of 4 leading world currencies: the yen, pound sterling, euro and US dollar. But the weight of currencies in the basket is reviewed every five years.
Euro
The official currency of the European Union countries is the euro. It operates on the territory of 17 EU countries. In 2006, about 610 billion euros were in cash circulation. This helped the currency become the owner of the highest total price of cash that circulated around the world.
The euro has outperformed the US dollar. The euro appeared in non-cash payments in 1999, and in cash in 2002. Cash euros have replaced national currencies in 17 EU countries out of 27. One euro is equal to approximately 40 rubles.
Jordanian Dina
The Jordanian Dina (code JD or JOD) is the currency of Jordan. Each banknote and coin depicts a royal dynasty. The money is signed in Arabic and English. In 1949, the currency replaced the Palestinian pound. The cost today is more than 30 rubles per unit.
Azerbaijani manat
This is the official currency of Azerbaijan. He was subject to denomination twice - first in 1992, then in 2006. The design of the banknotes was developed by the Austrian Roberto Calino, who also worked on the modern design of the euro. The coins therefore resemble EU currency. The price of a monetary unit is less than 30 rubles.
Ghanaian cedi
This currency was introduced in 1965 in Ghana. Its international designation is GHC, C. By the way, for quite a long time Ghana did not have its own currency. The country circulated money that was brought from neighboring countries.
After the influx of foreigners into the country and the beginning of tourism development, they needed their own money. The Ghanaian pound was introduced in 1958, after which it was changed to the cedi in 1965. This currency went through reforms in 1972 and 2007. The last time the reason was inflation. The denomination removed the four zeros from the cedi.
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Every year the world economy changes, and the economies of individual countries also change, so the rating of currencies in 2015 differs from this year. We present to you a list of the eight most expensive currencies in the world in 2016.
In the top, the US dollar is given the last eighth position in terms of value. But from the point of view of demand and its use as a world reserve currency, the US dollar occupies the most significant role.
The rating uses the conversion of each currency into dollars.
As a result of the deal between Saudi Arabia and the United States in 1973, the concept of “petrodollars” was born in the world. And in 1975, the Organization of Petroleum Exporting Countries adopted the US dollar as the only currency for purchasing oil, which created a strong demand for USD.
7. Swiss franc
1 CHF = 1.02795 USD
Switzerland is a banking haven country and has a very strong economy. The Swiss franc is very popular as a primary savings currency. The average monthly salary in Switzerland is $9,374.
6. Euro
1 EUR = 1.12940 USD
The well-known currency of the Eurozone, the euro has recently been experiencing many different economic and political problems.
5. Jordanian dinar
1 JOD = 1.41283 USD
The average monthly salary in Jordan is about $2,700.
4. British pound
1 GBP = 1.44754 USD
The British pound as a currency gained its strength during the colonial era and is still one of the main units of account for savings accounts. The average monthly salary in England is $6,785.
3. Omani rial
1 OMR = 2.59963 USD
The average monthly salary of $4,100 can convince many to work in Oman.
2. Bahraini dinar
1 BHD = 2.65625 USD
Bahrain occupies a strategic position in the world that facilitates the development of international trade. With the development of the economy and industry, the economy of Bahrain has become perhaps the strongest and most stable in the region. The average monthly salary in the country is about $3,500.
1 KWD = 3.35086 USD
Kuwait's currency is the most valuable in the world, and the country benefits from a booming oil-based economy. The average salary in the country is $3,650 per month.
Below is a summary table:
Top most expensive currencies in the world
| Rating | Code | Currency | Price, $ |
|---|---|---|---|
| 1 | KWD | 3.351 | |
| 2 | BHD | Bahraini Dinar | 2.656 |
| 3 | OMR | Omani rial | 2.599 |
| 4 | GBP | British pound | 1.448 |
| 5 | JOD | Jordanian dinar | 1.412 |
| 6 | EUR | Euro | 1.129 |
| 7 | CHF | Swiss frank | 1.028 |
| 8 | USD | U.S | 1.000 |
What do you think is the most valuable currency in the world today?
Most believe that the British pound is the most expensive currency, however, as it turns out, this is not the case.
Especially for blog readers, we have compiled a list of the most powerful currencies in the world (as of January 20, 2020).
So, the most expensive currency in the world...
#1 – Kuwait Dinar ($3.29)
Currency code - KWD.
Kuwaiti dinar exchange rate:
1 KWD = 3.29 USD(Kuwaiti dinar to dollar).
1 KWD = 202.94 RUB(Kuwaiti dinar to ruble).
The most expensive currency in the world is the Kuwaiti dinar.(relative to the dollar and Russian ruble).
Kuwait is a small country with enormous wealth. The high value of its currency is explained by the significant export of petroleum products to the world market.
Thanks to its stable economy, highly developed oil production and export industry, Kuwait is considered one of the richest countries in the world.
More than 80% of the country's income comes from the oil industry, since the extraction of black gold here is the easiest and, accordingly, the cheapest in comparison with other countries.
Until 2003, the Kuwaiti dinar was pegged to the dollar, but in 2007 the government decided to peg it to a multicurrency basket.
In addition to a very stable economy, Kuwait is a country with almost no taxes and a very low unemployment rate.
#2 – Bahrain Dinar ($2.66)
Currency code - BHD.
Bahraini dinar exchange rate:
1 BHD = 2.66 USD(Bahraini dinar to dollar).
1 BHD = 163.78 RUB(Bahraini dinar to ruble).
The Bahraini dinar is the second most valuable currency in the world.
Bahrain is an island state in the Persian Gulf with a population of just over 1 million people. As in the first case, the main source of income for this country is the export of black gold.
Interestingly, the Bahraini dinar is pegged to the dollar, and for 14 years its value relative to the dollar has not changed.
#3 – Oman Rial ($2.60)
Currency code - OMR.
Omani rial exchange rate:
1 OMR = 2.60 USD(Omani rial to dollar).
1 OMR = 160.17 RUB(Omani rial to ruble).
Oman is a country on the Arabian Peninsula. Thanks to its strategic location, it has a developed economy and a high standard of living.
The Omani rial, like the Bahraini dinar, is pegged to the dollar.
Interestingly, the purchasing power of this currency is so high that the government has to issue paper notes in denominations of 1/2 and 1/4 rials. In the picture above you can see 1/2 rial.
#4 – Jordan Dinar ($1.41)
Currency code - JOD.
Jordanian dinar exchange rate:
1 JOD = 1.41 USD(Jordanian dinar to dollar).
1 JOD = 86.86 RUB(Jordanian dinar to ruble).
It is quite difficult to explain the high value of the Jordanian dinar, since the country is not particularly developed economically and lacks important resources such as oil. However, 1 Jordanian dinar is worth about $1.41, making it one of the 10 most expensive currencies in the world.
#5 – British Pound ($1.32)
Currency code - GBP.
British pound exchange rate:
1 GBP = 1.32 USD(British pound to dollar).
1 GBP = 80.18 RUB(British pound to ruble).
It is the British pound that everyone considers the most expensive currency in the world, but, as it turns out, it is only in 5th place.
By the way, the British colonies issue their own banknotes, which are visually different from the banknotes issued by the Bank of England, but are quoted 1 to 1.
So, there are also: Scottish, Northern Irish, Manx, Jersey, Guernsey, Gibraltar pounds, as well as the St. Helena pound and the Falkland Islands pound.
It's funny, but native Brits don't always want to accept "other" pounds as payment.
#6 – Cayman Islands Dollar ($1.22)
Currency code - KYD.
Cayman Islands dollar exchange rate.
1 KYD = 1.22 USD(Cayman Islands dollar to US dollar).
1 KYD = 75.01 RUB(Cayman Islands dollar to ruble).
The Cayman Islands are one of the world's top tax havens. These islands have given power to hundreds of banks, hedge funds and insurance companies.
In particular, due to its leadership among tax havens, the Cayman Islands dollar is worth about US$1.22.
#7 – European Euro ($1.11)
Currency code - EUR.
Euro rate:
1 EUR = 1.11 USD(euro to dollar).
1 EUR = 68.31 RUB(euro to ruble).
Even though the Euro currency has lost about 20% of its value over the past year, it is still one of the strongest in the world.
Part of its strength comes from the fact that it is the official currency of 17 European countries, including several economic heavyweights.
In addition, the Euro is the world's second reserve currency, covering 22.2% of all world savings (for the dollar - 62.3%).
#8 – Swiss Franc ($1.01)
Currency code - CHF.
Swiss franc rate:
1 CHF = 1.01 USD(Swiss franc to dollar).
1 CHF = 63.61 RUB(Swiss franc to ruble).
Switzerland is not only one of the richest countries in the world, but also one of the most stable. Its banking system is famous for its unshakable “Banking Secrecy”.
Moreover, their high-tech products are appreciated all over the world.
Pay attention to the original appearance of this bill. This is the only currency that I have seen that “looks” vertical.
#9 – US Dollar
Currency code - USD.
Dollar rate:
1 USD = 0.90 EUR(dollar to euro).
1 USD = 61.58 RUB(dollar to ruble).
Due to America's leadership on the world stage, its currency has achieved the title of “world reserve currency.” In other words, you can pay with dollars anywhere in the world.
#10 – Canadian dollar ($0.75)
Currency code - CAD.
Canadian dollar exchange rate:
1 CAD = 0.75 USD(Canadian dollar to US dollar).
1 CAD = 47.14 RUB(Canadian dollar to ruble).
The Canadian dollar is the world's fifth-largest reserve currency. It is often called the “loonie” after the bird featured on the $1 coin.
Dropped out of the top ten
Due to the dynamically changing economic and political situation in the world, it is difficult for a currency to remain in this ranking, so here is a list of currencies that left the top ten in previous periods.
Australian dollar($0.68)
Currency code - AUD.
Australian dollar exchange rate:
1 AUD = 0.68 USD(Australian dollar to US dollar).
1 AUD = 42.35 RUB(Australian dollar to ruble).
Interestingly, the new range of Australian banknotes, as pictured above, will have a tactile feature (Braille) to help the visually impaired community identify the denomination of the note.
Azerbaijani manat($0.59)
Currency code - AZN.
Azerbaijani manat exchange rate:
1 AZN = 0.59 USD(Azerbaijani manat to dollar).
1 AZN = 36.30 RUB(Azerbaijani manat to ruble).
It is, of course, surprising to see the Azerbaijani manat on this list, but the currency of this Middle Eastern country is only slightly cheaper than the US dollar.
It should be noted that the local economy is actually quite strong, and the unemployment rate in the country is low.
Luigino of Seborg?
Have you ever heard of a currency called Seborg Luigino?
This currency belongs to the virtual state of the Principality of Seborga, which is located on the border of Italy and France. Luigino circulates primarily locally and is not considered legal tender in any other country.
But what’s interesting is that the local Luigino rate is 1 SPL = 6 USD, which could make this currency the most valuable in the world if it were officially recognized outside the principality.
Thus, despite the huge value of SPL, Luigino cannot yet take the first place in our list of the most expensive currencies in the world.
Is a high currency value a sign of a strong economy?
It is known that the currencies of not particularly successful countries tend to decrease in value. However, when the economy is doing well, we are unlikely to see the opposite effect.
Indeed, in practice there have been very few cases where the value of a currency has continually increased. The reasons may be different, but basically, the state itself does not benefit from the constant strengthening of the currency, because the population begins to actively save money instead of spending it.
Thus, the high value of the currency only indicates that inflationary processes in the country are under control.
In the context of this article, mention should also be made of Japan and its one of the strongest economies in the world. At the same time, the value of the Japanese yen is very small, $1 = ¥108.74.
Information about the highest value currencies is unlikely to be used by investors to make any investment decisions. In this case, it is better to consider the most stable currencies.
By the way, did you know that you cannot use images of banknotes without the inscription “SPECIMEN”? Let’s learn to obey the laws, comrades!
