Almost everybody believes that the U.S. dollar or Euro is still the most expensive currency in the world. But did you know that the world’s most expensive currency does not always belong to the wealthiest countries? Here is the list of the world’s most expensive currencies as of 2016. You might be surprised that there are a handful of currencies that beat the USD when it comes to value.
World’s Most Expensive Currencies
Kuwaiti Dinar (KWD) is currently the most expensive currency in the world. Kuwait is rich in natural oil deposits, which makes its economy booming. In the past, Kuwait has adopted the Iraqi dinar throughout the Gulf War.
Bahraini Dinar (BHD) is also one of the most expensive currencies in the world because of its ties with Saudi Arabia, as well as in the oil market. Also, the Kingdom of Bahrain has a strategic importance among its neighboring countries. Trades and foreign affairs are easier.
Omani Rial (OMR) remains strong even after the oil price downfall of 2014. In fact, it has capitalized in many dealings, making it one of the most expensive currencies.
Even after several economic and financial turmoil, the British Pound (GBP) is still strong. In 2015, the GBP has ended in a positive streak. Even Americans find the pound sterling to be significantly expensive.
Euro (EUR) still manages to hold on, despite Europe’s dysfunctional political and economic systems. It is still one of the most expensive currencies in the world, so tourists who would like to visit Rome or Paris must reconsider if they want to save on trips.
Swiss Franc (CHF) is still strong, despite the recent economic meltdown. Switzerland has become a safe haven for people who like to hide their wealth, as the country has a secretive banking sector.
Libyan Dinar (LYD) is able to recuperate, even amidst the crisis in Libya. Libya’s oil reserves keeps the country’s economy and currency value strong.
Bruneian Dollar (BND) has no problem being one of the most expensive currencies in the plant. Brunei is a small country in Asia, but don’t let its size fool you. BND still has a significance in the global forex markets.