It’s time to look at the most expensive currencies as the dollar’s depreciation has been historic. The most expensive currency is also a valuable currency. The following is a compilation of the most expensive currencies based on their comparative value to the American dollar.
The Swiss Franc
The Swiss Franc is easily the world’s most expensive currency given that it is only Franc that’s being issued in Europe. The Franc is the communicated currency between Switzerland and Liechtenstein. Several countries store large amounts of Swiss Franc as their reserve currency. Considering that the Franc is a valuable currency, the more you reserve of this currency, the better you will do in the financial winter.
US Dollar
The Dollar may be weak as of now, but it is still the most referenced currency in the world. The Dollar still has the purchasing power to beat several other currencies. Businesses around the world still use the Dollar for trade. The U.S. does trade with more countries than any other country. So yet again, the dollar rules here.
Almost every global commodity is priced in Dollar, apart from being priced in the local currency. This indicates that the Dollar classifies as the most expensive currency given its prominence as a universal reference currency and the dominance of U.S. exports.
The Canadian Dollar
The Canadian Dollar has been doing the same as the U.S. Dollar, but is not as strong as the latter. The Canadian Dollar touched shoulder to shoulder with the U.S. Dollar in more than thirty years. This fact has placed the Canadian Dollar in the league of the most expensive currencies.
Given that Canada is also a dominant trade and commerce country in the world, the stature of the Canadian Dollar has further augmented. Traditionally, Canada has been trading in few core exports. But with the global markets now more of a necessity than a reality, Canada has been exporting more. And this means that the Canadian Dollar is being used as a reserve currency by many countries.
The Kuwaiti Dinar
The Kuwaiti Dinar is easily the most expensive currency in the world. The oil-rich country of Kuwait has this distinction from years together. The country has been in talks with other countries over a single uniform currency across all Gulf countries.
Currently you pay over three dollars to get a Kuwaiti Dinar. Although the difference is not much, it is quite a distinctive advantage that Kuwait has over the U.S. Oil, being the single most enabler of this currency divide, is also something that Kuwait does not want to singly ride upon. Unlike the U.S, that has a multitude of exports; Kuwait’s main export is only oil.
The Maltese Lira
The small island country of Malta, packs quite a punch. Just over the size of two Washington D.C cities put together, Malta’s currency, the Lira, was one among the most expensive currencies in the world. In 2008. Malta and Cyprus adopted the Euro.
The Bahraini Dinar
This is another Gulf country in the list. And not surprisingly so. Bahrain is yet another oil-rich country. Bahrain has diversified into financial services from its core activity of petroleum production. To buy a Bahraini Dinar, you pay little over two dollars. This easily makes the Bahraini Dinar one of the most valuable and expensive currencies in the world.
A currency exchange rate indicates the economic strength of a nation. Given this fact, the most expensive currencies are of some of the strongest economies in the world.
