2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16
Each country has its own national currency in circulation. The list of currencies of the countries of the world is very wide. However, it can be divided into several main groups. So, for example, there is a currency of European countries, African, countries of North and South America, as well as Asian countries, Australia and Oceania. In addition, the list of world currencies can be divided into two categories: the most expensive and the cheapest monetary units.
What affects the value of a currency
One of the most important indicators that affect the value of a currency is the presence of a strong and well-developed economy. It should inspire confidence among partners and investors who will invest in government securities. In addition, the presence of minerals and their export by the country has a great influence.
If you carefully study the rating list of world currencies, you can see that the strongest and most expensive arebanknotes of the Arab peninsula. But, despite this, this currency is of little interest to other countries. This is due to the fact that it is directly dependent on oil. And this natural resource can run out at a certain time. Accordingly, the income of the exporting country will also fall.
Why is the price of the currency falling
The list of currencies of different countries of the world includes not only the most expensive monetary units, but also the cheapest ones. Often, the worse the state's economy develops, the lower the value of its currency is estimated. However, the price of money is not always a negative indicator for the state.
So, for example, the banknotes of the tourist countries of Vietnam, Cambodia and Indonesia are very low. But this does not prevent them from engaging in economic development. On the contrary, these states attract tourists with their low prices.
Sometimes the price of a currency can be affected by wars or coup d'état. Such countries at this point in time are not up to raising the economy. Do not forget about the possible imposition of sanctions by other states.
The most expensive world currencies: list
The Kuwaiti dinar is recognized as the most expensive currency in the world. This is a country that occupies a very small land area in the Persian Gulf. But at the same time, it is rich in oil and gas reserves. The country's currency has been in circulation since April 1996.
Second place should be given to the state of Bahrain with its dinar. During the last fifteen years, there has been an instability in the currency, whichlinked to the dollar peg.
The third position in this list of world currencies is occupied by the Omani rial. The state of the Sultan of Oman is one of the oldest. In addition to rial banknotes, the state uses coins in circulation. They are called bays. So, a thousand baizes make up one riyal. It is worth considering that this currency is pegged to the dollar.
The Jordanian dinar has no less value. It is used in the circulation of the Arab kingdom, which has a strong and stable economy. It is called the Hashemite Kingdom of Jordan and is located in the Middle East.
In addition to the above currencies, the top five includes the pound sterling. It is the official currency of Great Britain. Previously, this name was borne by a silver coin. The pound sterling banknote appeared in 1694. It is worth considering that, despite the common name, such banks in the UK as the Bank of England, the Bank of Wales, Scotland and the Bank of Northern Ireland issue their own personal banknotes, which are somewhat different from each other in their design. However, currency issued by the Bank of England is accepted everywhere.
Cheapest money
The national currency of Iran - the rial, which began its existence in 1798, tops the list of the world's lowest-priced currencies. At money changers, for one hundred dollars you will receive several large piles of Iranian rial at once.
The currency of Vietnam is dong. Name of thismonetary unit is translated as "copper" or "bronze". But, despite this name, the banknotes themselves are made of special water-repellent paper. This makes them more durable.
The third place in this list of currencies of the world should be placed good. Dobra is the currency used in circulation in the Democratic Republic of Sao Tome and Principe. The economy of this state rests on the tourism business and the cultivation of coffee and cocoa.
The fourth position is the well-known Belarusian ruble. Often referred to as "bunny".
The fifth position in the list of the world's cheapest currencies is the rupiah, which is used in Indonesia. In the local dialect, the currency is called "perak". But its official name was taken from the Indian rupee.
Freely convertible currencies
One of the most popular currencies that are accepted for circulation around the world are the dollar and the euro. But, despite all their popularity, these monetary units are approximately in the middle of the list of the most expensive banknotes in the world. At the same time, the euro is slightly ahead of its counterpart in terms of conversion.
These currencies are reserve for the whole world, thanks to the most stable and developed economies of their countries.
The full list of the names of the currencies of the world can be found on the official websites of companies that are engaged in the purchase/sale, as well as currency exchange.
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