Economy
Top 10 Most Valuable Currencies in the World
The United States dollar is seen by many as the most popular currency due to its wide usage across the continent.
Most products are valued against the dollar when considering the exchange rate against other countries’ denominations.
Below is the list of the most valuable/strongest currencies in the world;
10. United States dollar ($)
The US dollar (USD) is the most widely used currency. It is a legal tender in the United States and several other countries.
Over 65 countries peg their currency to the US dollar. Five US territories and eleven foreign countries use it as their official exchange currency.
You can find it in use in countries like Zimbabwe, Ecuador, and Panama, among others.
According to reports, as of December 31, 2020 approximately 50 billion notes of USD valued at $2 billion are circulating outside of the US.
9. Swiss Franc (?)
The Swiss Franc (CHF) is Switzerland and Liechtenstein’s official currency and legal tender. It was introduced in 1850.
Its primary strength is derived from the fact that Switzerland, aside from its economy, has political stability.
8. Euro (€)
The Euro (EUR) is the official currency of 20 of the 27 member states of the European Union (EU).
These countries include Germany, France, Italy, Belgium, Finland, Spain, and Portugal, among others.
The currency is also used officially by the institutions of the European Union, by four European microstates that are not EU members, the British Overseas Territory of Akrotiri and Dhekelia, as well as unilaterally by Montenegro and Kosovo. Outside Europe, a number of special territories of EU members also use the euro as their currency. Additionally, over 200 million people worldwide use currencies pegged to the euro.
The euro is the second-largest reserve currency as well as the second-most traded currency in the world after the United States dollar.
7. Gibraltar Pound (£)
The Gibraltar Pound (GIP) is the official currency of Gibraltar. The nation is a British Overseas Territory.
Gibraltar started issuing its bank note, GIP, since 1927. It started issuing its coins in 1988.
6. Cayman Islands Dollar (CI$)
The Cayman Islands Dollar (KYD) is the official currency of Cayman Islands. The KYD comes in in denominations of 1, 5, 10, 25, 50, and 100 dollars as well as coins.
The Cayman Islands dollar was introduced in 1972 (10 years after separation from the Colony of Jamaica), replacing the Jamaican dollar at par. Jamaican currency and Cayman Islands dollars both remained legal tender until 1 August 1972, when Jamaican currency ceased to be legal tender.
5. British pound (£)
The British pound (GBP) is the official currency of the United Kingdom and its territories. The British pound is the oldest currency in the world that is still used as legal tender.
It also has one of the highest trading volumes in the world.
4. Jordanian dinar (?.?)
The Jordanian dinar (JOD) is the currency of Jordan since 1950.
The Central Bank of Jordan commenced operations in 1964 and became the sole issuer of Jordanian currency, in place of the Jordan Currency Board.
The Jordanian dinar and the Israeli shekel are also widely used in the West Bank.
3. Omani rial (?.?.)
The Omani rial (OMR) is the official currency of Oman.
2. Bahraini dinar (?.?)
The Bahraini dinar (BD) is the official currency of Bahrain.
Bahrain is an island country in Western Asia.
1. Kuwaiti dinar (????? ?????,)
The Kuwaiti dinar (KWD) is the official currency of Kuwaiti.
Kuwait is a small, oil-rich constitutional emirate in Western Asia. It gained independence in 1961.
Disclaimer
The information in this article was curated from online sources. NewsWireNGR or its editorial team cannot independently verify all details.
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