You want to know the economic condition of a country? The country’s currency in terms of how it stands in exchange rate compared to other currencies in the world might give you a clue. One of the world’s currency is the Indian Rupee. In this article, we want to see the top 10 highest currencies in the world stronger than it. the top 10 most expensive currencies in Indian rupees in 2019 will be discussed.
The Indian Rupee (INR) is the official currency of India. Aside from India, it is unofficially used in Bhutan, Zimbabwe, and Nepal. The rupee is subdivided into 100 paise. However, the lowest denomination used is a half rupee or the 50 paise. This currency is issued and controlled by the Reserve Bank of India (RBI), which is India’s central banking institution, saddled with the task of controlling, the issuance and supply of the Indian rupee. As at 2017 – 2018, it was reported by the RBI – Annual Inflation Report that the Indian Rupee’s inflation rate is pegged at 4.4 percent.
Needless to say, the Indian Rupee is not the world’s most valued currency in terms of exchange rate neither is it the weakest. While it is stronger than some currencies, others are stronger than it. we will take a look at the top 10 highest currencies in the world against Indian rupee 2019.
Top 10 Most Expensive Currencies in Indian Rupees 2019
1. Kuwaiti Dinar (KWD) | 1 KWD = 227.40942 INR
One of the top 10 most expensive currencies Indian rupees is the Kuwaiti Dinar, the official currency of Kuwait. As at today, the Kuwaiti Dinar is the world’s highest-valued currency in terms of exchange rate. To the rupee, one dinar equals about 227.40942 Indian rupees. When compared to the United States Dollar, one United States dollar equals 0.29963 KWD.
There is nothing to be surprised about here. Kuwait is the fourth richest country in the world per capita. The country is a small one with its economy based on petroleum. Aside from being the 4th richest in the world based on per capita income, it is the second GCC country per capital directly behind Qatar. Gulf Cooperation Council (GCC), is a regional intergovernmental political and economic union consisting of all Arab states of the Persian Gulf except Iraq.
The Kuwaiti Dinar is subdivided into 1,000 fils. The Central Bank of Kuwait is the Kuwaiti Government body saddled with the responsibility of issuing and controlling the Kuwaiti Dinar. The Kuwaiti currency is available both in coin and in bank notes. All the coins are available in fils – 1, 5, 10, 20, 50, 100 fils. On the other hand, the banknotes are available in Dinar. These include 1⁄4 dinar, 1⁄2 dinar, 1 dinar, 5 dinars, 10 dinars, and 20 dinars.
The inflation rate of this currency is 4.7 percent according to The World Factbook, 2011. No doubt
2. Bahraini Dinar (BHD) | 1 BHD = 183.50992 INR
The Bahraini dinar is the official currency of Bahrain. Just like the Kuwaiti dinar, it is one of the most valuable currencies in the world. Currently, the Bahraini dinar is the second most valued currency in the world in terms of exchange rate. To the Indian rupee, one Bahraini dinar equals 183.50992 Indian rupees. When paired with the United States dollar, $1 USD = 0.376 BD.
Bahrain as a country is a small island country. The country has a high Human Development Index (HDI) and had been recognized by the World Bank as a high-income economy. Among other bodies, it is a member of the Gulf Cooperation Council, United Nations, Organization of Islamic Cooperation, Arab League and the Non-Aligned Movement. Petroleum production and processing accounts for 70 percent of Bahrain’s Government revenue. Directly followed by Aluminum production, finance, and construction material.
The Bahraini Dinar is subdivided into 1,000 fils. The monetary body saddled with the responsibility of issuing of controlling this currency is the Central Bank of Bahrain. The currency is available both in coins and bank notes.
3. Omani Rial (OMR) | 1 OMR = 179.45453 INR
The third most expensive currencies into the Indian rupees is the Omani rial which is the official currency of Oman. The Omani rial is the world’s third highest-valued currency directly behind the Kuwait dinar and the Bahraini dinar. To the Indian rupee, One Omani rial equals 197.45453 Indian rupees. The Omani rial exchange rate against the United States dollars is $1 USD = 0.384497 OMR.
Oman, officially known as the Sultanate of Oman is an Arab country on the southeastern coast of the Arabian Peninsula in Western Asia. The Omani currency though has tried in it economic diversification is still a petroleum-based economy. Omani petroleum total reserve is said to be 5.5 billion barrels making it the 25th largest in the world. Currently, tourism is the fastest growing sector in the country.
The Omani rial is divided into 1000 baisa. The currency is available both in coins and banknotes and its issuance and control are done by the Central Bank of Oman. According to The World Factbook, the inflation rate of the Omani rial is put at 4.1 percent.
4. Jordanian Dinar (JOD) | 1 JOD = 97.31979 INR
The Jordanian dinar is also one of the most expensive currencies in Indian rupees. It is the official currency of Jordan since 1950. The currency is unofficially used in West Bank (Palestinian territories). The Jordanian dinar is said to also be one of the world’s most valued currency in terms of exchange rate. The currency, when compared with the United States dollar, stands at $1 USD = 0.7 JOD. To the rupee, one Jordanian dinar equals 97.31979 INR.
Jordan is an Arab country in Western Asia. The country is said to have a high Human Development Index (HDI) and has an upper middle-income economy. The country attracts a lot of investors because of the skilled labour force it possesses. Jordan is said to be the second world’s poorest country in terms of water resources per capita.
The Central Bank of Jordan issues and control the circulation of the Jordanian dinar. The country’s currency is available in both coins and banknotes.
5. Pound Sterling (GBP) | 1 GBP = 91.21730 INR
The Pound Sterling is the official currency of the United Kingdom, Isle of Man, Jersey, South Georgia and the South Sandwich Islands, Guernsey, British Antarctic Territory, and Tristan da Cunha. It is the third most traded currency in the forex market. The first and second being United States dollar and Euro respectively. This currency is one of the most expensive currencies into the Indian rupees. The exchange of the Pound Sterling to Indian rupee is 1 GBP = 91.21730 INR.
The Bank of England is the official body responsible for the issuance of the pound sterling. The currency is available in coins as well as a banknote. The inflation rate of this currency is 2.1 percent.
6. Euro (EUR) | 1 EUR = 77.69364 INR
The Euro is also one of the most expensive currencies in Indian rupees. The currency is used in 19 of the 28-member states of the European Union. The zones in which this currency is used is known as the eurozone. The euro is the second largest and second most traded currency in the forex market after the United States dollar.
The currency is not only used in Europe, but other special territories of EU members also make use of the currency. Some of the unofficial users of the currency include Kosovo, Montenegro, and Zimbabwe. The exchange rate of the euro against the Indian rupee is 1 EUR = 77.69364 INR.
European Central Bank is saddled with the responsibility of issuing the Euro. The currency just like the Pound Sterling, have numerous mints and printers. The currency is available in bank notes as well as coins. It is subdivided into 100 cents.
7. Swiss Franc (CHF) | 1 CHF = 69.30012 INR
The Swiss Franc is also one of the currencies stronger than the Indian rupee. It is the official currency of Switzerland, Liechtenstein and Campione d’Italia. Due to the numerous languages in Switzerland, the currency has its inscription in Latin to denote language neutrality. The currency, when paired against the Indian rupee, is 1 CHF = 69.30012 INR.
The issuer of the bank notes is the Swiss National Bank while its coins are issued by the Swissmint.
8. US Dollar (USD) | 1 USD = 68.94439 INR
The United States dollar is the currency of the United States and its territory. Several other countries use it as their official currency. The US dollars is the most used currency in an international transaction. The U.S. dollar is the world’s primary reserve currency. This United States dollar is one of the top 10 most expensive currencies into the Indian rupees. 1 USD = 68.94439 INR. The issuer of the currency is the Federal Reserve System.
9. Bermudian Dollar (BMD) | 1 BMD = 68.94439 INR
The Bermudian dollar is the official currency of the British Overseas Territory of Bermuda. This dollar is not usually traded outside Bermuda and it is pegged at a one to one ratio with the United States dollar. This now means along with the Bermudian dollar, the United States dollar is also used in this region. Just like the forex of the US dollar against the Indian rupee, the forex of the Bermudian dollar to the rupee is 1 BMD = 68.94439 INR.
10. Bahamian Dollar (BSD) | 1 BSD = 68.94439 INR
The Bahamian dollar is the official currency of Bahamas and Turks and Caicos Islands. These two regions also make use of the United States Dollar in addition to the Bahamian Dollar. The currency is pegged at a ratio of one to one (1:1) with the US dollar. The exchange rate of the Bahamian dollar against the Indian rupee is 1 BMD = 68.94439 INR., just like that of the US dollars.
Looking at the top 10 most expensive currencies into the Indian rupees, the top 4 are Arabian countries in the Middle East, while the remaining are found in the American and Europe zone. These zones are seen as zones doing well economically. This goes with the earlier assertion the currency of a given country can give an idea of how the country is doing economically.
Tag: Highest Currencies In The World Against Indian Rupees