With over 150 currencies available in the world today, it is important to know that they are not all valued the same. Although there are mainstream currencies that are quick to come up in mind like the Dollar or Pound, it is important to note that they are not considered the most valuable.
Here are the top 10 most valuable currencies in the world:
The official currency of Canada, its bank notes are issued in 5, 10, 20, 50 and 100 denominations. The exchange rate to the naira is about 275 NGN to 1 CAD. The bank note of this currency is very colorful, featuring the first French-Canadian Prime Minister, Wilfred Laurier, Queen Elizabeth II, William Lyon Mackenzie King and John A. MacDonald. The bank note is older than the US Dollars, being issued first in 1817.
The United States Dollar
Being the most popular currency in the world, one would think it as being the most valuable. At number 9 on our list is The United States Dollar. It was issued first in 1913 and the design on it remained the same for a long time until 1963 and has remained the same ever since. The current exchange rate with the Naira is at about 360 NGN to 1 USD. Countries that use this currency as the official currency include Palau, Zimbabwe, East Timor, El Salvador, Ecuador and the Marshall Islands.
This currency is the official national currency in Switzerland and Liechtenstein. The bank notes come in 10, 20, 50, 50, 100, 200 and 1,000 Franc denominations. The current exchange rate of this currency to the Naira is at 371 NGN to 1 CHF. First issued in 1907 and also makes use of coins for smaller denominations.
The official currency for trade in the European Union is the Euro. The denomination of this currency is 5, 10, 20, 50, 100, 200 and 500 Euro. The current exchange rate of this currency to the Naira is at 406 NGN to 1 EUR. The countries that the Euro circulates includes; Spain, Portugal, Malta, Latvia, Greece, Netherlands, Ireland, Estonia, Austria, Cyprus, France, Italy, Slovenia, Slovakia, Luxembourg, Lithuania, Germany and Finland.
Cayman Islands Dollar
First issued in 1972, the Cayman Dollar replaced the former Jamaican Dollar. Its denomination is 1, 5, 10, 25, 50 and 100 Dollars. The Cayman Islands is the country with highest standard of living in the Caribbean and has a current exchange rate to the Naira at 433 NGN to 1 KYD.
British Pound Sterling
This is another very popular currency you should know and would have thought would be the number 1. At number 5 is the Pound Sterling. It is popular because of its use during international trade transactions. It is the official currency in the United Kingdom and Northern Ireland. Its current exchange rate to the Naira is at 473 NGN to 1 GBP.
First issued in 1949, this currency replaced the former Palestinian Pound. The Dinar is divided into 100 Piasters and 1000 Fulus, The current exchange rate to the Naira is at 510 NGN to 1 JOD. There is an image of the royal family on the bank note and the notes are considered one of the most beautiful ones in the world.
This currency has been in circulation in Oman since 1977 and is divided into 1,000 Baisas. It has a current exchange rate to the Naira at 938 NGN to 1 OMR. The country is prosperous due to the large and rich oil deposit and its affiliation with the World Trade Organization.
At number two is the Bahraini Dinar. First issued in 1965 and replacing the previously existing Indian Rupee as the National currency in Bahrain, a country east of Saudi Arabia. The denominations include 5, 10, 25, 50, 100 and 500 BHD. Its prosperity comes from its oil exports and other oil related exports. The current exchange rate to the Naira is at 960 NGN to 1 BHD.
At number one valuable and the strongest currency in the world is the Kuwaiti Dinar. The currency was first issued in 1961 and its value kept increasing from that point. The current exchange rate to the Naira is at 1,200 NGN to 1 KWD. The country hold 8% of the world oil reserve and this is it major source of prosperity.
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