FX.co ★ World’s 8 most valuable currencies in 2021

Kuwaiti dinar (KWD)

The Kuwaiti dinar is the most expensive currency in the world in 2021. Kuwait is a country seated on the shores of the Persian Gulf. It boasts extensive crude oil and natural gas resources. Some 80% of Kuwait’s GDP comes from selling these raw materials. Rich hydrocarbon deposits, good production conditions, and cheap processing of raw materials have made this Western Asian state one of the world’s leading countries with the highest standard of living. The high cost of its national currency is one of the reasons behind Kuwait’s influential position in the world. Thus, 1 KWD equals 3.31 USD. Statistics show that every 15th Kuwaiti resident is a millionaire.

Bahraini dinar (BHD)

The Bahraini dinar is the second most valuable currency in the world. The Kingdom of Bahrain is a country in the Persian Gulf. The nation with a population of just 1 million inhabitants boasts a high quality of living. The lion’s share of revenue in Bahrain comes from exports of hydrocarbons. The Bahraini dinar has been pegged to the US dollar for 14 years. Since then, the Bahraini dinar’s value has not changed. So, 1 BHD costs 2.65 USD.

Oman rial (OMR)

The Oman rial is the world’s third expensive currency. The Sultanate of Oman owes its strong common currency to its geographical position. The country is located on the coast of the Arabian Peninsula, at the crossroads of trade routes of the Middle East. The Oman rial has a relatively high purchasing power: 1 OMR = 2.60 USD. For that reason, the governments decided to issue banknotes in denominations of 1/2 and 1/4 rial.

Jordan dinar (JOD)

JOD is the world’s fourth most valuable currency on our list. It has been in circulation since 1950. This means of payment replaced the Palestinian pound that was in circulation between 1927 and 1950. The Jordanian Dinar is issued by the country's central bank that shares regulatory functions with the Jordan Securities Commission (JSC). Experts find it hard to explain why JOD has such a high value. Thus, 1 Jordan dinar equals 1.41 US dollars, making it one of the top 8 most expensive currencies in the world.

Pound sterling (GBP)

The pound sterling is the fifth most valuable currency in the world in 2021. Many experts link the sterling’s expensiveness with its rich history. Indeed, the British pound’s history dates back to the 12th century. Analysts say that every time GBP comes under enormous pressure, the greenback and the euro, which are used for international transactions more often than other currencies, tend to get weaker. The pound is now less susceptible to the negative impact of the global economy and is better protected during financial crises. This enables the British currency to stay strong against USD and EUR. Despite Brexit and pandemic-related issues, the sterling holds steady: 1 GBP = 1.37 USD.

Cayman Islands Dollar (KYD)

The Cayman Islands dollar is the world’s sixth most expensive currency. The Cayman Islands are an overseas territory of the United Kingdom. The currency enjoys a rather high value: 1 KYD equals 1.20 USD. The fact that the Cayman Islands are in the offshore zone and are recognized as one of the best tax havens adds to the value of its national currency. The opportunity to avoid paying taxes attracts world banks, leading hedge funds, and other large organizations.

Euro (EUR)

The euro takes seventh place in the ranking. It is the common currency of 17 eurozone countries. Solid government support ensures the euro’s stability. The German economy, the eurozone’s locomotive, plays a central role here. The euro takes up as much as 22.2% of world savings, following the greenback (62.3%). Nowadays, 1 EUR costs 1.19 USD. Above all else, EUR is the world’s second reserve currency.

Swiss franc (CHF)

The Swiss franc is the eighth currency with a high value on our list. Switzerland is recognized as the most stable and richest nation in the world. Its time-tested banking system has been operating efficiently for centuries. Although the Swiss franc is considered the most reliable means of payment, it is almost never used in the global payments system. The Swiss currency is also Liechtenstein’s legal tender. Today, 1 CHF equals 1.08 USD.