A wise investor would like to know the most expensive currencies of the world in 2018. Once the people understand the best options, they get in a better position in determining where their money should be. When I was a novice in the area of currencies, I was somewhat stereotypical. I thought that no other currency would ever beat the British Pound, US Dollar or Euro. Are you a victim of the same? If the answer is a big yes, then you are in for a rude shock.
Neither the size nor the wealth of the nation determines the strength of its currency. The type of trade, as well as the stability, determine that. You must be wondering which ones are the 10 most expensive currencies of the world in 2018. There is only one way to find out. Our list of the top 10 most expensive currencies of the world in 2018 tells it all. Check it out!
Top 10 most Expensive Currencies of the World in 2018
10. U.S. Dollar
At position ten, we have the U.S. Dollar as one of the 10 most expensive currencie of the world in 2018. It is a universal Currency and hence a form of payment in almost every country in the world. Why not when the USA is the leader of the economy internationally? The currency, on the other hand, has earned the title “World Reserve Currency.” Its code is usually USD. Despite being at number 10, the currency is the most traded. The standard conversion is to and from Euro. Regardless of its strength deteriorating, it remains a formidable currency. Throughout our discussion, it will be our point of reference.
1 USD = 1.00 USD
9. Swiss Franc
Thanks to the stability in Switzerland, the country is one of the richest. No wonder they have one of the 10 most expensive currencies of the world in 2018. Besides that, the Bank Secrecy feature of their banking system. The tech goods as well have resulted into great currency. Away from the strength, the Swiss Franc is also unique. Its vertical view makes it makes it stand out. The currency code is CHF.
1 CHF = 0.99 USD.
8. European Euro (Euro Dollar)
There are high chances that this could not have been the position of this currency if we were ranking the top 10 most expensive currencies of the world at a time like this last year. However, this is not the case as it now clinches the seventh position. Nevertheless, it is still one of the strongest for two reasons. One, it is the currency used in European countries including some of the world’s most developed counties economically. Two, 22.2% of the reserve world currency is in Euros. It comes second in that after the US dollar. The currency code is EUR.
1 EUR = 1.09 USD
7. Cayman Island
When it comes to taxes, Cayman Islands leads and the rest follow. That is because they head some banks, insurance companies as well as hedge funds. The tax haven mentioned above and USD come close to each other. In the Cayman Islands, the most common exchange rate is from USD to Cayman Island. The currency code is KYD.
1 KYD = 1.22 USD
6. Gibraltar Pound
Gibraltar’s one is also among the 10 most expensive currencies of the world in 2018. The currency relates with the British pound sterling. It is obvious because Gibraltar is a European country as well. It is a popular country. Nevertheless, few people are aware of their currency which is stronger than not only USD but also EUR. That is the truth of the matter, and its strength gets many as a surprise. The currency code is GIP.
1 GIP = 1.36 USD.
5. British Pound
The next of the 10 most expensive currencies of the world in 2018 is the British pound. It ranks position four in the list of the most traded currency in the foreign exchange market. It comes after Japanese yen, Euro as well as the US dollar. Several countries take pride in it. They include the United Kingdom, Guernsey, South Georgia and the South Sandwich Islands, Tristan da Cunha, Jersey, the Isle of Man and the British Antarctic Territory. The currency code is GBP.
1 GBP = 1.41 USD.
4. Jordan Dinar
It ranks position four, but it is good to note that they have the same equivalence regarding US dollars compared with the British pound. How it has become one of the 10 most expensive currencies of the world in 2018 remains a mystery. Jordan is neither a country with oil and other resources nor is it developed economically. The common rate is usually from Jordan Dinar to Euro. The current code is JOD.
1 JOD = 1.41 USD.
3. Oman Rial
This Oman Rial takes position three is our list of the top 10 most expensive currencies in the world in 2018. It is apparent given the fact that its location is strategic. Omar has one of the strongest currencies globally. However, that was not the case before 1940. Things were different with the country using INR as the official currency. The Arabic nation is wealthy because of the oil reserves in the country. In addition to that, it exports several minerals. They include limestone and copper. The currency code is OMR.
1 OMR = 2.59 USD.
2. Bahrain Dinar
This is a country in the Middle East. The large quantities of oil in the country are responsible for the wealth as well as the stability of their monetary value. That explains why their currency is one of the 10 most expensive currencies in the world in 2018. It not only mines oil but also refines it. Consequently, the oil becomes of relatively high value. For 14 years, the exchange rate from Bahrain Dinar to the USD has remained the same. The currency code is BHD.
1 BHD = 2.65 USD.
1. Kuwait Dinar
This is yet another country in the Middle East. This one is the strongest currency in the world when put against the dollar of the United States. Despite being a small country, the state is rich with the high export of oil in the international market. Besides, Kuwait in the biggest supplier of oil in the world. That makes the currency strength neither a surprise nor far-fetched. It is often exchanged with INR. The currency code is KWD.
1 KWD = 3.39 USD.
The fiction or misconception of which are the 10 most expensive currencies of the world in 2018 is no more. Now you have the facts straight. It is evident that oil producers tend to have a stronger currency than that of the countries that do not. In addition to that, even a small country can have one of the most expensive currencies in the world in 2018. Kuwait is a good example. If the information mentioned above is used wisely, your trading could shift to the next level. What then are you waiting for? Ponder on it and make a smart choice.