2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16
Most of us, when planning or making purchases in physical stores or on the Internet, see the price of goods indicated in national currency. The cost of production is a certain indicator that indicates our capabilities, the ability of a person's income to satisfy his vital needs. This article will focus on the most expensive currencies.
Purchasing power and value of monetary units
Each currency in the world is characterized by such an indicator as purchasing power. In other words, any monetary unit also has its price. In some cases, the cost of a product or service may be indicated in different currencies. And the difference in price characterizes the exchange rate ratio of these monetary units. What is the most expensive currency?
Today there are about one hundred and eighty varieties of monetary units in the world. What is the most expensive currency in the world, and what money is valued more than others, we will consider further. A visual representation of the price of banknotes will give a comparative analysis of their value as of November 2014.
The most expensive currency in the world isKuwaiti dinar. It is followed by the Bahraini dinar, followed by the Omani rial and the Latvian lats. And only in fifth place do we see one of the world's main reserve currencies - the British pound sterling. Next, you will find out what are the objective reasons for the existence of such a "table of ranks", and also get acquainted with a detailed description of the most expensive currencies in the world.
Kuwaiti and Bahraini dinars
For a long time, the undisputed leader among currencies in terms of value is the Kuwaiti dinar. What is his course? The most expensive currency against the ruble is quoted at the level of 194 Russian rubles per dinar. This situation is not surprising and is standard for the value of monetary units of oil-producing countries, a significant part of whose income is the export of "black gold". It is the currencies of these states that occupy a leading position in the ranking of the value of banknotes.
The Kuwaiti dinar was introduced in 1961 and replaced the Indian rupee. For almost its entire history, this currency has been pegged to the US dollar. But in 2007, the leadership of Kuwait decided to stop this practice. And for more than a decade, the dinar has been pegged to a multicurrency basket. Nevertheless, such measures did not greatly affect the exchange rate of the dinar, and it still confidently leads the list of the most expensive monetary units. What are the most expensive currencies against the ruble?
From among them, the dinar of Bahrain should be singled out. This country is also rich in oil, so the emergence of its own strong and stable currency was a matter of time. Although still in the middlelast century in Bahrain, the Indian rupee was used. But this currency was not reliable either then or now.
At first there were plans to start making our own rupees, but this idea was quickly abandoned, and in 1965 the local dinar was put into circulation. In addition, until 1973 this currency was also used in the United Arab Emirates. The Bahraini dinar has been pegged to the US dollar since 1987. Since then, the rate of this currency has been steadily growing.
Omani Real
The Omani real is also in the TOP of the most expensive currencies. This monetary unit was put into circulation in 1974 and replaced the Said real. It is curious that in many Arab states the main currency is divided not into 100, but into 1000 shares. In the case of the Omani real, such a unit of exchange is the baiza. Taking into account this feature of Arab money, it is not surprising that banknotes in denominations of 100 or even 200 bize can be found in circulation. It should be noted that the bills of this currency are issued using both Arabic and English languages.
Latvian lats
One of the most expensive currencies is the Latvian lats. It was in circulation already in the 20s - 40s of the XX century. But after joining the USSR, for obvious reasons, it ceased to exist. The issue of returning the lat as the official currency became topical after Latvia gained independence. Since 1993, this currency has become the main one in this B altic country.
Very strange to seethe currency of a state not endowed with special natural resources in the list of the most expensive in the world. Nevertheless, it should be noted that the Latvian lats is one of the "heavyweight" currencies, and until Latvia joined the Eurozone in 2014, it was even more expensive than the British pound sterling.
Pound Sterling
The monetary unit of the United Kingdom has the longest, most interesting and significant history for the whole world. In the 18th and 19th centuries, the pound sterling was used by many states to create their foreign exchange reserves. In that era, the English currency was the leader and clearly dominated other currencies of the world. The pound sterling began to lose its positions only after the end of the Second World War and the collapse of the British Empire.
Then the American dollar entered the world stage, which became the main reserve currency of the world. The pound sterling has lost its leading position, but still remains stable, popular and one of the most expensive currencies. In addition, after the US dollar and the euro, it is the third largest reserve currency in the world.
Euro
The emergence of the euro was the result of a truly ambitious project to create the European Union and the introduction of a common European currency. Not long after the appearance of the currency in circulation, the euro took second place in the list of world reserve currencies. This fact is connected, among other things, with the withdrawal of the French franc from circulation andGerman mark. In other words, it was the euro that took the share of these currencies in reserve portfolios.
At the moment, the total population of countries using the single European currency as a monetary unit is about 320 million people. A significant increase in the geography of the use of the euro is caused, among other things, by the expansion of the European Union, which has been actively carried out over the past 20 years. As you know, in recent years, several countries of Eastern Europe have joined this geopolitical association of states.
In addition, the amount of euro cash in circulation exceeds even that of the US dollar. And despite the fact that the euro is still unable to win the title of the most expensive currency in the world due to the low growth rates of the European economy, it rightfully occupies a worthy place in the top ten of the rating.
Jordanian Dina
The list of the most expensive currencies also includes the currency of Jordan, which appeared in circulation in 1949. At the moment, she occupies an honorable seventh place in the ranking. Dina paper banknotes depict local roy alty. The inscriptions on the banknotes are made in two languages: Arabic and English.
Other high value currencies
The Azerbaijani manat takes its rightful place in the list of the most expensive currencies in the world. Azerbaijan is also one of the major oil exporters. In addition, two national denominations have been held in the country over the past two decades.currencies. A curious circumstance can be called the fact that the design of banknotes was developed by Roberto Kalino. He also participated in the creation of the euro.
Ghana did not have its own national currency for a long time. Banknotes of other states imported into the country were used as a settlement instrument. This practice is not something out of the ordinary and was often used not only in Ghana. But with the development of the tourism business, the issue of launching one's own money into circulation has become urgent.
In 1958, the Ghanaian pound began to be used as the national currency, and already in 1965 it was replaced by the cedi. Meanwhile, it should be emphasized that the high position in the ranking of the most expensive currencies in the world of this monetary unit is primarily due to the denomination carried out in 2007. During this operation, the cedi immediately lost four zeros on his banknotes.
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