Top 10 Most Expensive Currencies In The World 2016
Before discussing about currencies of different world, first we have to know about the what is currency as well how much importance for a country so currency is defined as in the most precise use of the word refers to money in any form when in actual use or movement as a medium of exchange, particularly circulating banknotes and coins so most easy to know that system of money that represents the nation so common currencies are British pound, Kuwaiti Dinar etc but international currency of all countries of the world is U.S Dollar.
so every currency of all countries have different value as well different rate as well some countries have so much of their currency that are known as expensive currency but some countries have so much cheap currency. So international we somebody talks about money then only Dollar came in mind of the people.
So here is the list of Top 10 Most Expensive Currencies in the world 2016.
10: Singapore Dollar
The currency of the Singapore is Dollar which is considered as one of the expensive currencies, this is abbreviated normally by Dollar sign or sometime by S$ to differentiate it from other currencies of the world because there are many countries which have this currency. It is further divided into 100 cents as this country gained independence in 1965 so after this they started introducing their own currency but regular flow of this currency started in 1985 after 20 years of independence. But after starting development in this country, currency of this country also began so much strong because this country has also most income per capita therefore also considered as one of the richest countries so one Singapore dollar nearly equal to 0.73 US Dollars. Interesting to know that currency of Brunei is also accepted in this country.
9: Bruneian Dollar
Bruneian Dollar is almost equal to Singapore therefore their value of in International market is also same so currency of this country known as sultanate of Brunei Since 1967, as this currency is commonly abbreviated as $ sign but to distinguished B$ is used. This country is known as small country in the Southeast Asia but economy of this country is so much healthy because this country is also in richest countries of the world therefore this country is managed to co-operate with Singapore with same ratio therefore their currency rate is same. So currency of both countries is acceptable in both countries so one dollar of this country is equal to 0.73 US dollar.
8: Libyan Dinar
The Currency of this country Libya is Dinar which is further divided into 1000 dirham, this currency was introduced in this country in 1971 because before this pound is used as currency in this country, currency of Libya became strong in the era of Muammar Gaddafi because during this era this country contain more stability. As all of us know that all Arab countries are richer with natural blessing in which oil is more important therefore Libya is also one of Rich Oil country therefore this country has strong currency which this country has continuously maintained instead of many years of wars as well as resignation of Muammar Gaddafi therefore one dinar of Libya is equal to 0.74 US dollars.
7: Swiss Franc
Swiss Franc is the currency of legal tender of Switzerland and Liechtenstein as this currency is equal of United State’s Dollar as sometimes this currency has also dominated US Dollar, Swiss National Bank issue notes of this currency. As all of us know that Switzerland is most beautiful as gorgeous country which is also one of the richest countries because their most of income came from tourism so their currency is also used in many other places such as Campione D’Italia but not officially used there so this money revolves almost in whole Europe but according to statements from international currency that its value is equal or more than that of US Dollar therefore considered in most expensive currencies of the world.
6: U.S Dollar
United States of America is most powerful country in the world not only by their Armies, weapons technology but also Currency, so currency of this country is Dollar which is abbreviated as $ or simply Dollars or American Dollar so it is official currency of this country. This currency is used in international market for transaction, purchasing or buying therefore many countries made this country as their official currency so this is used as sole in British Overseas Territories in the Caribbean: the British Virgin Islands and Turks and Caicos Islands. Interesting to know that some countries used Dollar for their paper money therefore they have made their coins for small use so this currency is most used in the world so considered as expensive currency.
Euro is also most used as well as expensive currency; it is official currency of eurozone which contains 19 states out of 28 states of Europe which are commonly known as member states of European Union which are: Belgium, Cyprus, Austria, Germany, France, Finland, Ireland, Finland, Estonia, Italy, Latvia, Greece, Lithuania, Malta, Netherland, Portugal, Slovakia, Slovenia, Spain, Portugal and Luxembourg. This is not a international currency but used in most countries of the world therefore this is also stronger than that of US Dollar because one Euro is equal to 1.14 US Dollar this is because, Euro is used in that countries which are healthy developed countries therefore this currency is second reserve in the world so Euro is one of most expensive currencies of the world.
4: British Pound
Pound is officially known as Pound Sterling, as that of US Dollar this currency is also official currency of many countries such as Jersey, United Kingdom, South Georgia and the South Sandwich Islands, Isle of Man, Guernsey, the British Antarctic Territory and also Tristan da Cunha. This is also further divided into 100 Pence, some countries not Sterling but Pound name so by healthy finish of Pound last year this currency is still expensive for Americans because one Pound Sterling is equal to 1.44 US dollars in international markets. More interesting to know that this currency is oldest currency in the history of the world so highest note of Pound is of 50 Pound which is almost equal to 73 US dollars so this currency always made its place in the world, Gibraltar Pound is also used which was introduced in 1934 which is almost equal Pound Starling.
3: Omani Rial
Oman is also richest country of the world because it has many sources of oil therefore this country has so much strong currency value so Rial is official currency of this Arab Country which is further divided into 1000 baisa. This country has different currencies by time to time because for time Indian Rupee was also used after that in 1940 Dhofar after that coins used. But in 1970 rial was made official currency of this country, interesting to know that it was about equal to British Pound but it is really praised that this currency has made progress to become stronger. So one Omani Rial is almost equal to 2.60 US Dollars, this strong change in value of rail is due to oil resources, instead of decreasing prices of oil in international for last couple of years, this currency has maintained its position as in international market therefore considered as most expensive currency in the world and its biggest note is of 50 rial.
2: Bahraini Dinar
Bahrain is also one of the richest countries in the world because of oil resources therefore it has greater income per capita so dinar is official currency of Bahrain as this Dinar is further divided into 1000 fils. Before this currency Gulf rupee was currency of this country so Dinar was introduced in 1965 in this country, Bahrain is the home of an American naval base that is crucial to U.S. power in the region that gives more importance to Kingdom Bahrain and according to reports that this is main reason to be more costly of this currency but another factor that is not forgettable which is more and more oil, so one Bahraini Dinar equal to 2.65 US Dollars therefore placed 2nd in this list of most expensive currencies of the world so biggest note of this currency is of 20 dinar.
1: Kuwaiti Dinar
Kuwait is another Arab country which has also many sources of oil therefore oil is exported throughout the world therefore this country has also strong economy as well as greatest income per capita therefore in most expensive currencies of the world this currency is on 1st position in this list. So dinar is also official currency of this country Kuwait which is further divided into 1000 fils. Before this currency Gulf rupee was used which was equal to Indian Rupee but in 1960 Dinar was introduced in this country so at start it was almost equal to one Pound Sterling but as described earlier this country has much sources of oil therefore surpassed pound after some years now one Kuwaiti dinar is equal to 3.32 US dollars so bigger note of this currency is of 20 dinar therefore due to its most value in all currencies in the world known as expensive currency of the world.