10 Most Valuable Currencies 2021

If you're a newbie in the forex market or you're just looking to brush up on updates, this article is for you. Due to rapid changes in the economy and fluctuations in global relations, some currencies all around the world lose or gain more value. While the latter rarely occurs, you must keep your mind updated with the values of the world's currencies. This is to ensure you're aware of exactly how much you're trading if you're the kind who likes to trade in other currencies apart from dollars. Before we proceed, it's important to know that the dollar currency is one of the most traded currencies in the world. Its value may not be high among the top 10 currencies but it's been said that there's no currency looking to replace the US Dollar at any moment.

As we go on discussing these currencies, you would realize that most of them are not even from the countries with the highest GDPs. This is to prove that a nation's currency when it comes to forex trading, has nothing to do with the wealth of the nation. With that being said, we shall now discuss the top ten currencies in descending order. Let's get right into it then, shall we?

10 Most Valuable Currencies 2021

Before we get into the description, this table has been provided for a quicker and easier understanding of the currencies

As at this moment when this article is being published, the Kuwaiti Dinar is the highest currency in the world. With its rate tripling that of the US Dollar, the country can be said to be doing well for itself. When you consider the GDP of the country and other factors, it's no surprise that this country is part of the top 10 richest countries in the world. Kuwait is the only country that's among the richest in the world and also has an incredibly strong currency rate in the forex market. Kuwait is a country generally known for its oil exploitation among other factors. Even though it's a small country, it's no surprise that it has, over the years, gathered a lot of wealth for itself.

The code for the Kuwaiti Dinar is KWD. Hence, it can be said that 1 KWD is equal to 3.30 USD. When we consider euros (which we're going to be doing throughout this article, 1 KWD equals 2.73 EUR)

2.  Bahraini Dinar

Like Kuwait, Bahrain is a country that deals a lot in oil exploitation and exportation. Apart from oil, Bahrain also sources its income from date palms, beaches among others. The country is located around the Persian Gulf, its population just a little over a million individuals. The currency first appeared around 1965 with a fixed exchange rate. Unlike Kuwait, however, its fixed exchange rate means the country is not necessarily that rich. In other words, the strong currency of the country can't be said to match its level of wealth and economic growth.

The code for the Bahraini Dinar is BHD. 1 BHD equals 2.66 USD. When it comes to euros, 1 BHD equals 2.20 EUR

3.  Oman Rial

Omar is a tiny country located somewhere on the southeast coast of the Arabian peninsula. The country is generally known for its rampant display of arts and crafts. The country takes its culture seriously. This is why it generates most of its income from tourism. Travelers from all over the world come to this country to have an exquisite experience with arts and culture and also enjoy the atmosphere.

One Oman Rial is divided into a thousand units. One unit is called a Baiza. A Baiza is a coin mostly used by residents of the country

The code for the Omar Rial is OMR. 1 OMR equals 2.60 USD. When considering euros, 1 OMR equals 2.15 EUR

 4.  Jordan Dinar

The Jordan Dinar, like Bahrain Dinar, is a high currency that doesn't quite match the economic situation of the country. As of 2019, the GDP of the country was capped at $44.4bn making it the 89th richest country in the world. It is however lacking natural resources that other "Dinar using" countries have such as oil.

The code for the Jordan Dinar is JOD. 1 JOD is equivalent to 1.41 USD. When we consider euros, on the other hand, 1 JOD equals exactly 1.16 EUR

 5. British Pound Sterling

At this juncture, the first thing to know is that the British colonies give out their currency. This means there are other currencies out there that all bear the pound sterling name but weren't the ones issued at the bank of England. Ultimately, they all bear the same value so a pound sterling is a pound sterling anywhere.

Other British pound sterling currencies include the Scottish pound, north Ireland pound, the jersey pound, Manx pound, and the St. Elena island pound.

The code for the British pound sterling is GBP. 1 GBP equals 1.37 USD. When we decide to convert to euros, 1 GBP, equals 1.13 EUR.

 6. Cayman Islands Dollar

The Cayman Islands is a popular vacation spot and is known for its provision of licenses to hedge funds, insurance banks, and other insurance companies worldwide. The British overseas country is located in the western Caribbean sea. It consists of three islands. They are known as Cayman Brac, Grand Cayman, and Little Cayman. The value of the currency is fixed by the governor and as of now, the currency is still a part of the top 10 currencies in the world. The country has its leadership to thank for that.

The code for the Cayman Islands currency is KYD. 1 KYD equals 1.22 USD. When the euro is taken into consideration, 1 KYD equals 1.01 EUR.

 7.  European Euro

There was a time the value of the European currency wasn't high enough to rank among the top 10 currencies. However, over the years, the currency has risen to earn its place. Apart from the fact that the euro is currently the 7th strongest currency in the world, it's the second most traded currency after the United States Dollars.

A lot of countries under the European continent are doing well for themselves economically. This is not a surprise as most developed countries are located in Europe.

The code for the euro is EUR. 1 EUR equals 1.21 USD.

 8.  Swiss Franc

The Swiss Franc is the official currency of Switzerland. As one of the richest countries in the world, it's no surprise that the currency ranks among the top highest. According to a report in 2016, Switzerland is one of the landlocked countries with high GDPs. The country is famous for its technology, vertically shaped currency, and banking system.

The code of a swiss franc is CHF. 1 CHF equals 1.12 USD. When the euro is taken into consideration, 1 CHF equals 0.93 EUR

 9.  US Dollar

Apart from it being the 9th highest currency in the world, it's also known as the reserve currency which means it is accepted anywhere and can be used by any country to trade.

This is major because the US is seen by all countries as the leading economic country. Even though the country is economically rivaling countries like China, it still has the reserve currency which gives it an edge over all other currencies.

When the euro is taken into consideration, 1 USD equals 0.83 EUR.

10. Canadian Dollar

As of right now, when this article is being published, the Canadian dollar is the fifth most traded currency. The fluke in the world economy has caused a change in the currency rankings. Some countries that were once among the rankings have since fallen off the ladder.

The Canadian dollar is also referred to as the "looner". This is due to the display of birds on the note.

The code for the Canadian dollar is CAD. 1 CAD equals 0.79 USD. When Euro is taken into consideration, 1 CAD equals 0.65 EUR

What Is The Most Valuable Currency In The World?

As of now, the most valuable currency in the world is the Kuwait Dinar. Due to the vibrant economic stability and the success of the oil exploration factor of the country, the currency has been the most valuable currency in the world for a while now. The fact that the country doesn't have a wide number of inhabitants can also be taken into consideration when determining the reason as to why the currency is the most valuable. Another thing to consider about this currency is its exchange rate. The most popular exchange rate is from Kuwaiti Dinar to Indian Rupees (KWD to INR). This is majorly due to the fact that the indian expat community is very visible and popular in the country. This makes them both a unique currency pair. The absence of taxes for those working in Kuwait is also an added advantage. All these factors combined do not only make Kuwait one of the richest countries in the world, they also make it's currency the strongest and most valuable. It's no surprise it triples that of the US Dollar.

7 Currencies Worth More Than The US Dollar

1. European Euro (EUR)

2. The Kuwaiti Dinar (KWD)

3. Bahraini Dinar (BHD)

4. Swiss Franc (CHF)

5. Cayman Islands Dollar (KYD)

6. British Pound Sterling (GBP)

7. Oman Rial (OMR)