Saturday, 19 January 2013

Costly currency in the world

Medium of exchange which is frequently used in a particular nation for transaction between an individual and trade. Earlier In barter system an individual or business was suppose to directly exchange their goods and services by other goods and services without using medium of exchange or currency.  
Standard currency such as united state dollar (USD), Pound sterling (GBP) and euro (EUR) are commonly used in foreign exchange market and mostly exchange rates calculation are made with respect to this currency. There are many more currency which is more valuable than US dollar, pound and euro. But it doesn’t mean that doing investment in high value currency will give you good return or country with higher value currency is having good economic health of that country. We are listing down 10 most expensive currencies whose values are calculated against dollar..

 Kuwaiti Dinar (KWD).
1 KWD = $3.55303

Country            :: Kuwait
Currency          :: Kuwait Dinar
Capital              :: Kuwait city
Location           ::  Western Asia
Main Income    ::  Oil

 Bahraini Dinar (BHD).
1 BHD = $2.66951.

Country            :: Bahrain
Currency          :: Bahraini Dinar 
Capital              :: Manama
Location           ::  Middle East
Main Income    ::  Oil

 Omani Rial (OMR).
1 OMR = $2.60552.

Country            :: Sultanate of Oman
Currency          :: Rial 
Capital              :: Muscat
Location           :: Southwest Asia
Main Income    :: Oil

Currency of Oman is Rial. Oman is officially called as sultanate of Oman and is Arab state located in southwest Asia. Capital of Oman is Muscat. In 1970, the currency of Oman was made by Rial Saidi. Major business of Oman is export of crude oil.

Latvian Lats (LVL).
1 LVL = $ 1.89286.

 Country            :: Latvia 
Currency          :: Lats 
Capital              :: Riga
Location           :: Baltic region of Northern Europe 

Currency of Latvia is Latvian Lats and Latvia is located at Baltic region of Northern Europe. Riga is the capital of Latvia. Currency code of Latvian lats is LVL and abbreviated as Ls.In 1922 Lats was first introduced, replaced Latvian rubils.

UK Pound Sterling (GBP).
1 GBP = $1.61685

Country            :: United Kingdom
Currency          :: Great Britain Pound
Capital              :: London
Location           :: Europe 

Currency of United Kingdom is pound. Further pound is subdivided into 100 pence. The United Kingdom of Great Britain and Northern Ireland is commonly known to be United Kingdom (UK).London is capital of UK.

Jordanian Dinar (JOD).
1 JOD = $1.41044

Country            :: Jordan
Currency          :: Jordanian dinar
Capital              :: Amman
Location           :: Asia

Currency of Jordan is Jordanian dinar. Subdivision of Jordanian dinar is 10 dirham. Jordan is officially known as Hashemite Kingdom of Jordan. Amman is the capital of Jordan. Currency code of Jordan is JOD. 

 European Union Euro (EUR).
1 EUR = $1.31622

Countries          :: 25 members state in European union 
Currency          :: Euro
Location           :: Europe 
Euro is the currency of eurozone that includes 25 members state in European union which are located in Europe. In 1999 Euro was officially introduced and currency sign of euro is denoted by €. Currency code of Europe region is euro.

 Azerbaijani Manat (AZN).
1 Manat = $1.27405

Country            :: Azerbaijan
Currency          :: Azerbaijani Manat
Capital              :: Baku
Location           :: western Asia

 Cayman Islands Dollar (KYD).
1 KYD = $1.22838
Currency of Cayman Island is Cayman Islands dollar. Currency code of Cayman Island is KYD and currency sign is denoted by $ or CI$. In 1972 Cayman Islands dollar was introduced and replace by Jamaican dollar. Cayman Islands and Jamaican currency then both exist till legal agreement till 1 August 1972.
 Swiss Franc (CHF).
 CHF = $1.08927

Currency and legal tender of Switzerland and Liechtenstein is franc. Both countries are located in Western Europe. Currency code of Swiss Franc is CHF and currency symbol is denoted by Fr or Sfr. For German there is no formal tender defined so it commonly use there. It is the tenth highest value currency in the world unit.