You might think of the US dollar, Great Britain Pound, or the Euro as the strongest currencies but there are a few more currencies that have much higher conversion rates than them.
Read on further to know which currency is ranked the highest in the world
1. Kuwaiti Dinar: (KWD)
1 KWD=3.32 USD
1 KWD= 246.7 INR
The highest currency in the world is the Kuwaiti Dinar. The country of Kuwait is located at the tip of the Persian Gulf between Iraq and Saudi Arabia.
The economy of Kuwait is mainly dependent on oil exports as the country has one of the largest oil reserves in the world. Moreover, the public working in Kuwait is not taxed and that increases the value of the country’s currency.
The currency was introduced in 1960 to replace the Gulf Rupee after the country gained independence from the UK. To ease transactions, 1 dinar is divided into 1000 fils.
2. Bahrain Dinar: (BHD)
1 BHD= 2.65 USD
1BHD= 196.9 INR
Bahrain is a small archipelago located in the Persian Gulf, located between the Qatari Peninsula and the North-Eastern border of Saudi Arabia with over 1 million populations. Bahrain’s wealth is also heavily dependent on its oil reserves. Just like KWD, BHD is also divided into 1000 fils.
The Bahraini Dinar was introduced in 1965 to replace the Gulf Rupee. Today, even Saudi Riyal is officially a legal tender in Bahrain with an exchange rate of 1 BHD= 10 Saudi Riyals.
3. Omani Rial: (OMR)
1 OMR=2.60 USD
1 OMR= 192.85 INR
Oman is located on the southeastern coast of the Arabian Peninsula, sharing its border with Saudi, Yemen, and UAE. The Omani Rial is the third-highest currency in the world. It is nearly double the value of the Great Britain Pound.
In 1970, the country adopted the currency of Saidi Rial which was replaced by Omani Rial in 1972. Just like other currencies in the gulf, the Omani Rial is also divided into 1000 Baisa.
4. Jordanian Dinar: (JOD)
1 JOD= 1.41 USD
1 JOD= 104.74 INR
Jordan is a country in western Asia situated at the crossroad between Asia, Africa, and Europe. The main reason behind the high value of the currency is the stable exchange rate that the government maintains. Unlike other countries with high currency value, Jordan does not depend heavily on oil exports which makes its economy diverse.
The Jordanian Dinar, which was introduced in 1949 to replace the Palestinian pound, has been tied to the US Dollar for the past two decades.
5. Pound Sterling: (GBP)
1 GBP=1.37 USD
1 GBP= 101.82 INR
The national currency of Britain is the fifth-highest valued currency in the world. The currency is also the fourth highest traded currency in the international market behind the US dollar, Euro, and Japanese Yen, accounting for more than 12% of the trade in the foreign exchange market.
The pound sterling is the national currency of Guernsey, Jersey, and the Isle of Man as well in addition to Great Britain. It is also the oldest currency that is still in use although Brexit has had a negative impact on the currency.