Top 10 Highest Currency in the World 2022

Some use instruments like cross-currency swaps to hedge exposure to interest rate and exchange rate risk. Interest rates, inflation and foreign currency rates are all interconnected. When a central bank raises interest rates, borrowing becomes more expensive, typically increasing the value of the currency.

Cayman Islands Dollar (KYD)

The British pound sterling (or quid as it’s colloquially known) is the United Kingdom’s official legal tender but is used by many other nations as well. GBP is considered the oldest legal tender in recorded history and was once the world’s reserve currency until roughly the first half of the 20th century. Rising inflation rates generally weaken a currency’s value, because purchasing power declines. Low inflation rates tend to strengthen a currency as goods and services become relatively more demark symbolik tool affordable. The Singapore dollar is expensive on the foreign exchange market, accounting for around 1.8% of daily forex trades.

Jordanian dinar (JOD)

• Singapore’s central bank actively manages the currency to maintain competitiveness while keeping inflation low.
• It holds the top spot in trading and remains the largest reserve currency globally, even after the end of the Bretton Woods system.
• Trading CFDs involve a high degree of risk and investors should be prepared for the risk of losing their entire investment and further amounts.
• Whether you’re vacationing or studying, exchange rates shape your real costs in ways most people overlook.
• The Swiss franc or CHF is used throughout both Switzerland and Liechtenstein.

The main reason for its high value lies in Kuwait’s economic structure, which relies heavily on oil exports. Kuwait has some of the largest and most accessible oil reserves in the world, which provides the country with a stable and high income. This income keeps the currency stable and ensures its high purchasing power. The United Nations recognises around 180 as legal tender, but which one holds the most value? Read ahead to discover the 16 strongest currencies traded daily on the global markets.

It is considered an upper middle-income, with a sizable chunk of its population living below the poverty line. Bahrain shares commonalities with Kuwaiti’s currency, making it the second highest-valued currency unit. Like Kuwait, Bahrain is a small Arab nation (even lower population, all in a tiny archipelago) with a valuable economy thanks to massive oil and petroleum exports. A country’s terms of trade measures the ratio of export prices to import prices.

– Jordanian Dinar ($1.

• While Kuwait only has a population below 5 million, it’s technically one of the wealthiest nations in the world if accounting for gross national income per capita.
• It was introduced into Kuwait’s legal system in 1960, replacing the Gulf rupee.
• Read ahead to discover the 16 strongest legal tenders that are used on a daily basis in 2022 and exchanged in currency trading.
• This practice also aims to attract foreign investment and control inflation.
• The Bahraini dinar is the second-strongest currency in the world, with 1 dinar buying 2.65 dollars (or $1 equals 0.38 Bahraini dinar).

As well, New Zealand’s clean energy initiatives and advances in technology have helped to maintain confidence in the dollar from an investor’s standpoint. The NZD might not be as strong as the AUD; however, it is still among the stronger currencies when compared to the Indian Rupee. It may again seem weird to find the Bulgarian Lev among the top 20 highest currencies, but it also maintains strength because it is pegged to the Euro. Bulgaria is even working towards joining the Eurozone, so it may become even more stable. We are dedicated to demystify the world of forex trading for you – no matter what level you are on.

The Omani Rial closes the top three of most expensivecurrencies in the world with the conversion rate of 2.60 USD to one Rial –nearly double the value of the British Pound. Before Bahrain became one of the leading oil-producingcountries, the major profit-gaining industry here was pearl mining. However, inthe 1930th the production ceased due to pearl cultivation in Japan. Bahrain is a Persian Gulf Island state with a population ofjust over 1 million people.

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The economies of these countries ensure high demand and value of their currencies in the international market. Since then, it has demonstrated resilience and steady growth, making it one of the most sought-after currencies in the region and the world. Rather than petroleum-based exports like the top 3 countries, Jordan’s economy is small and well-diversified. Ranging from trade and finance to manufacturing and mining, there are plenty of reasons why the Jordanian Dinar is one of the strongest currencies in the world. This continues to make the Kuwaiti dinar the top strongest currency in the world. In countries with strong currencies, the focus is usually on stability and low inflation, not necessarily high income.

Visit our forex trading page for more details on the 300+ currency pairs you can trade with us. We’ve determined the strongest currencies, based on the amount of dollars needed to buy one unit of each currency. The exchange rates are sourced from our currency converter, based on data from Open Exchange at the time of writing. The Australian dollar is also the 5th most traded on the forex market and accounts for around 6.8% of daily trades. Some reasons for why the AU dollar is so popular include its stability, high-interest rates, and the view that it holds diversification benefits. Financial and economic indicators include GDP, inflation, employment rates, and interest rates set by central banks.

Moving Averages (MAs) are often the first indicator introduced to a newbie in any financial market. While Kuwait only has a population below 5 million, it’s technically one of the wealthiest nations in the world if accounting for gross national income per capita. While their inclusion is for trivial purposes, these are not currencies you’ll find with the vast majority of forex brokers. OTC leveraged products, including CFDs, are complex instruments and come with a high risk of losing money rapidly due to leverage. 61% of retail investor accounts lose money when trading CFDs with this provider.

In exchange for 1 US dollar, you will receive around 1.44 New Zealand dollars. Even though the NZD is the 15th strongest currency in the world, it beats many of the stronger ones and lands a top 10 place in the most traded currencies​. In 2022, it accounted for 5.2% of the daily volume in the global foreign exchange market, up from 4.9% in 2019. However, by 2022, it had slipped to the 6th position, representing 6.4% of the daily volume in the global foreign exchange market.

As long as the USD remains such a widely used currency, we believe it will continue to remain on the list of the highest-valued currencies in the world for years to come. It owes much of its strength to the country’s robust oil and gas exports, which bring in significant foreign reserves. The macroeconomic policies providing stability and the very low public debt are also contributing to the Lev holding its value.

Pound sterling

Of similar value to the Omani rial, when trading 1 US dollar, you will receive 0.38 Bahraini dinar. 1 US dollar will exchange for around 1.36 Brunei dollars, giving the BND the same value as the Singaporean dollar.. To see whether you could make money from trading CFDs, you could try out our risk-free demo account, which allows you to practice first using $10,000 of virtual funds. Once you feel confident enough to enter the live markets using real funds, you can then switch to a live account. The value of a currency is determined by a complex interplay of various financial, economic, and geopolitical factors. The Omani Rial was first introduced as the nation’s legal currency in 1973, replacing the rial Saidi (not Saudi riyal) after a change in regime.

Although it is not the most expensive tender in the world, it is extremely valuable and one of the most stable on this list. The Jordanian dinar became the official legal tender of The Hashemite Kingdom of Jordan in 1950, four years after Jordan gained independence. This currency is also informally used in the West Bank, part of the Palestinian territories. In 2016, the Swiss franc constituted 0.2% of the total foreign exchange reserves, slightly down from 2015. According to a 2016 survey conducted by the Bank of International Settlements, the Singapore dollar came out as the 12th highest traded currency in the world. The currency is subdivided into 100 cents with a total of 10 denominations (5 banknotes and 5 coins), the smallest being 10 cent coins.

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I am a happy customer of Bookmyforex, who joined in June 2016 and had never faced any difficulty in getting money transferred. I would recommend Bookmyforex to every student, professional, and tourist who want a stress-free service in this competitive world. With over 600 banks and trust companies operating within its jurisdiction, the Cayman Islands enjoys a wealthy influx of foreign capital.

The Swiss franc was introduced in 1850 and was later briefly pegged to the euro before moving to a free-float. When measuring the value of one currency against another, you are simultaneously buying one tender and selling another​. All of the currencies in our list are quoted in exchange for a single US dollar. See our trading fees​​ for more information and view our spreads and margin rates below for major, minor, and exotic pairs.