The world’s most expensive currency is not the dollar. Neither is it the euro. It is from a little-known country near Iraq, with an estimated population of 3 million people.
The following list of world’s 10 most expensive currencies:
10. Australian Dollar (AUD)
One AUD is currently selling at KES 78.60. The Australian dollar is a commodity-based currency and is more valuable when paired with the USD in the forex market.
9. Singapore Dollar (SGD)
One SGD is currently selling at KES 73.87. It was first issued in 1967as a pegged currency, first to the British pound and then to the U.S. dollar. 20 years later, the SGD began free-floating giving it room to run.
8. Bruneian Dollar (BND)
One BND is currently worth KES 73.95. Brunei is a tiny country in Asia and home to approximately 330,000 people. Brunei is the fourth largest exporter of LNG in the region, and this has given strength to its currency.
7. Libyan Dinar (LYD)
One LYD is worth KES 74.10. Despite having a rocky history, Libya has managed to keep its currency steady against world leaders, aided by its bountiful supply of oil.
6. Swiss Franc (CHF)
One CHF is worthy KES 103.77. Switzerland is famous for secretive banking sector that is said to be behind the Franc’s strength.
5. Euro (EUR)
One EUR is worth KES 111.18. Despite its terribly dysfunctional economic and political systems, Euro remains one of the most expensive currencies on the planet.
4. British Pound (GBP)
One GBP is worth KES 128.07. The Euro tumbled last year at the height of the Brexit vote, and is expected to strengthen once UK passes Article 50.
3. Omani Rial (OMR)
One OMR is worth KES 267.53, making it one of the world’s most expensive currencies. Its value is pegged on the country’s oil resources.
2. Bahraini Dinar (BHD)
One BHD is worth KES 273.17. The Bahraini dinar is attributed to its ties to Saudi Arabia, but the U.S. influence in the area is also a factor to consider.
1. Kuwaiti Dinar (KWD)
One KWD is worth KES 338.15, making it the most expensive currency in the world right now. The dinar was released in 1961 but remained a pegged currency until 2007. It has maintained position 1 of world’s most expensive currencies since 2013.