2020 updates on the top 10 highest currencies in the world against Indian rupees and US Dollars. We all like to get the most out of our money when exchanging, even if it’s just a few extra cents, but several factors influence the valuation of a currency, such as the number of country-specific variables needed in determining a currency’s strength and benchmarks (other currencies, commodities, etc.) against which a currency’s strength can be measured.
At times, one economy may be stronger but note that this doesn’t necessarily indicate a stronger currency e.g Japan’s economy is regarded as one of the strongest in the World yet a single Japanese yen exchanges for considerably less than a US dollar. Therefore, the high value of currency only says that inflation processes in such a country is under control and can hardly be used by investors to make any investment decisions. In this case, it is better to consider the most stable currencies.
Top 10 Highest Currencies In The World Against Indian Rupee/Dollars 2020Kuwaiti Dinar
1. Kuwaiti Dinar
(1 KWD = 3.29 USD and 238.91 Indian Rupee)
Currency Code -KWD
It is the world’s strongest currency and the highest valued currency against the United States Dollar.
Kuwait is a small country located on the tip of the Persian Gulf, whose enormous wealth can be attributed to its heavy exports of oil to a global market. Due to the stable petroleum-based economy, highly developed oil production and export, Kuwait is considered one of the richest countries in the world. More than 80% of the country’s revenue is derived from the oil industry as petroleum production here is the easiest and the cheapest among other countries. It has a very stable economy, a tax-free country with a very low unemployment rate.
KWD was introduced in 1961 after gaining its independence from the United Kingdom. Over the years, it has been pegged to a number of different currencies, most recently to the U.S. dollar and an unnamed basket, valued at 1 KWD to 3.29 USD.Bahraini Dinar
2. Bahraini Dinar
(1 BHD = 2.65 USD and 238.65 Indian Rupee)
Currency Code – BHD
The second most valuable currency in the world, the official currency of Bahrain, first introduced in 1965. Bahrain is a PersianGulf Island State, with the majority of its wealth coming from exporting petroleum products.
Bahraini Dinar is only used in Bahrain and is pegged by the U.S. dollar, with its rate against the US Dollar remaining stable since 2005.
3. Omani Rial
(1 OMR = 2.60 USD and 195.79 Indian Rupee)
Currency Code – OMR
Omani rial is an Arabian currency that was first introduced in the year 1973. It is the official currency of the Sultanate of Oman and the third-highest status currency in the world which has seen a significant rise in value due to the success of the country’s oil supply, a developed economy, high quality of life and being pegged to the U.S Dollar.
The purchasing power of this currency is so high that their government had to introduce 1/4 and 1/2 Rial banknotes.
4. Jordanian Dinar
(1 JOD = 1.41 USD and 192.02 Indian Rupee)
Currency Code – JOD
The official currency of Jordan, an Arabic nation on the bank of river Jordan, introduced in 1949. It is one of the strongest currencies in the World, though This country is not economically developed, and it lacks essential resources, such as oil.
However, the currency is still only used in Jordan and nowhere else in the World.
5. British Pound Sterling
(1 GBP = 1.26 USD and 104.27 Indian Rupees)
Currency Code – GBP
It is the official currency of the United Kingdom. The pound sterling is often perceived as being the highest currency in the world, however, that’s not the case.
GBP is one of the most widely used currencies and the oldest independent currency in the world. It was first used in the United Kingdom in 1489.
6. Gibraltar Pound
(1 GIP= 1.23 USD and 88.90 Indian Rupee)
Currency Code – GBP
GBP is the official currency of Gibraltar of which its notes and coins are printed by the Government. Its currently the sixth world most valuable currency.
7. Cayman Islands Dollar
(1KYD = 1.20 USD and 88.61 Indian Rupee)
Currency Code – KYD
The Cayman Islands is a British territory located in the Caribbean well known for being one of the world’s best tax havens providing banking licenses for a number of the world’s biggest banks, hedge funds, and insurance companies.
KYD was introduced in 1972 as a replacement for Jamaican Dollars and has gone on to become one of the world’s best currencies.
8. European Euro
(1 EUR = 1.10 USD and 81.87 Indian Rupee)
Currency Code – EUR
EURO is the primary currency of the European Union and was adopted on January 1, 1999. It has strengthened over the past few years holding the title of the second world reserve currency, enveloping 22.2% of all world savings.
The currency began virtually, in the form of traveller cheques and electronic bank transfers but later appeared as physical notes and coins in 2002.
9. Swiss Franc
(1CHF = 1.01USD and 77.53 Indian Rupee)
Currency Code – CHF
Swiss Franc is the official currency of Switzerland and Liechtenstein! Switzerland is one of the wealthiest countries with its high-tech goods very well known around the globe. It is one of the most stable with a solid track record in banking and finance. Switzerland has some of the world’s strictest monetary policies and lowest debt levels which have drawn many investors to view the Swiss Franc as a “Safe Bet”, to store some of their wealth in the official currency of Switzerland.its high-tech goods are very well known all around the globe.
The Swiss franc is known for being the sixth most traded currency in the world. It is expected to retain its value in the foreseeable future!
10. US Dollar
(1 USD = 73.92 Indian Rupee)
Currency Code – USD
Tenth on the list of highest currencies in the world is the US dollar. It is the currency of the United States of America and the most traded and used currency in the World.
Owing to the USA’s world economic leadership, US dollar holds the title of the world’s primary reserve currency, held by both central and commercial banks all over the world. You can make dollar payments everywhere in any country.
I believe with this list, we have been able to compare the top highest currencies and their countries accurately for making any financial or investment decisions because your money will go a lot further.
You can also use this to knowledge to start a business or career which will be profitable in countries with the strongest currencies.
That’s all about the strongest currencies in the world 2020.
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