Most of us, when planning or making purchases in ordinary stores or on the Internet, see the price of goods indicated in national currency units. 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 unit value
Each currency in the world is characterized by such an indicator as purchasing power. In other words, any monetary unit also has a price. In some cases, the value 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 in the world there are about one hundred eighty varieties of monetary units. What is the most expensive currency in the world, and what money is valued more than others, we will consider further. A clear idea of the price of banknotes will give a comparative analysis of their value as of November 2014.
The most expensive currency in the world is the Kuwaiti dinar. The dinar of Bahrain follows, then the Omani rial and the Latvian lat. And only in fifth place do we see one of the world's major reserve currencies - the British pound. Next, you will find out what are the objective reasons for the existence of such a “ranking table”, 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 Kuwaiti dinar is the undisputed leader among currencies in value. What is his course? The most expensive currency against the ruble is quoted at 194 Russian rubles per dinar. This situation is not surprising and is standard for the value of the monetary units of oil-producing countries, a significant part of the income of which is the export of “black gold”. It is the currencies of these states that occupy leading positions in the rating of the value of banknotes.
Dinar of Kuwait was introduced in 1961 and replaced the Indian rupee. Throughout 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 ten years, the dinar has been tied to a multicurrency basket. Nevertheless, such measures did not greatly affect the dinar exchange rate, and it still confidently leads the list of the most expensive monetary units. What are the most expensive currencies against the ruble?
Of these, the Bahrain dinar should be distinguished. This country is also rich in oil, so the emergence of its own strong and stable currency was a matter of time. Although in the middle of the last century, Bahrain used Indian rupee. But this currency was not reliable either then or now.
Initially, there were plans to start making their own rupees, but they quickly abandoned this idea, and in 1965 a local dinar was put into circulation. In addition, until 1973, this currency was used in the United Arab Emirates. Since 1987, the Bahraini dinar has been pegged to the US dollar. Since then, the rate of this monetary unit has been growing steadily.
Omani Real
The Omani real is also included in the TOP of the most expensive currencies. This currency was put into circulation in 1974 and replaced the Said real. Curious is the fact that in many Arab states the main currency is not divided into 100, but into 1000 shares. In the case of the Omani real, such a bargaining unit is bayza. Given this feature of Arab money, it is not surprising that in circulation you can find banknotes in denominations of 100 or even 200 buy-in. It should be noted that banknotes of this currency are issued using both Arabic and English.
Latvian lat
One of the most expensive currencies is the Latvian lat. It was in circulation already in the 1920s and 1940s. But after joining the USSR, for obvious reasons, it ceased to exist. The issue of the return of the lats as the official currency became relevant after Latvia gained independence. Since 1993, this currency has become the main currency in this Baltic country.
It is very strange to see the 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 refers to the “heavyweights” monetary units, and until the entry of Latvia into the Eurozone in 2014 was even more expensive than the British pound.
GBP
The monetary unit of the United Kingdom has the longest, most interesting and significant history for the whole world. In the eighteenth and nineteenth centuries, the pound was used by many states to create their foreign exchange reserves. In that era, the British currency was the leader and clearly dominated other currencies in the world. The pound began to lose its position only after the end of World War II and the collapse of the British Empire.
Then the American dollar entered the world stage, which became the world's main reserve currency. The pound 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 and most important reserve monetary unit in the world.
Euro
The emergence of the euro was the result of a truly grandiose project to create the European Union and the introduction of a pan-European currency. It was not long after the appearance of the currency in circulation, as the euro took second place in the list of world reserve currencies. This fact is associated, among other things, with the withdrawal from circulation of the French franc and the German mark. In other words, the euro took the share of these currencies in the reserve portfolios.
Currently, the total population of countries using a 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 implemented over the past 20 years. As you know, in recent years, several countries of Eastern Europe joined this geopolitical association of states.
In addition, the amount of cash in circulation in Euro even exceeds that of the US dollar. And despite the fact that while the euro cannot be won 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.
Jordan dyne
The list of the most expensive currencies also contains the currency of Jordan, which appeared in circulation in 1949. At the moment, she takes an honorable seventh place in the ranking. Dina's paper notes depict local royalty. The inscriptions on the banknotes are made in two languages: Arabic and English.
Other high value currencies
The Azerbaijani manat occupies its worthy place in the list of the most expensive currencies in the world. Azerbaijan is also one of the largest oil exporters. In addition, two denominations of the national currency have been held in the country over the past two decades. A curious circumstance is the fact that the design of banknotes was developed by Roberto Kalino. He participated in the creation of the euro.
In Ghana, for a long time there was no national currency. As a settlement instrument, the banknotes of other states imported into the country were used. This practice is not out of the ordinary and has often been applied not only in Ghana. But with the development of the tourism business, the issue of launching your own money into circulation has become urgent.
In 1958, the Ghanaian pound began to be used as the national currency, and already in 1965, his sister replaced him. Meanwhile, it should be emphasized that the high position in the ranking of the most expensive currencies in the world of this currency is primarily due to the 2007 denomination. During this operation, the cedi immediately lost four zeros on her banknotes.