Top 20 Highest Currency In The World 2018 Against Indian Rupee & Dollar, World Strongest / Most Valuable Currency In The World
Contrary to the thinking of many, The United States dollar is not the strongest currency in the world, neither is it the Euro or even the Pound. So you are probably asking what is the strongest is the in the world or what is the highest currency in the world against Indian Rupee, Dollars or your own Currency? That would be discussed alongside the other 9 following it. One thing to note however is, the strongest currencies of the world are the currencies of countries with very strong economy.
Top 10 Highest Currency In The World Against Indian Rupee & Dollar, Most Valuable / Strongest Currency In The World 2018
1. KUWAITI DINAR KWD
- INR 210.37
The Kuwaiti Dinar (currency of Kuwait) is unarguably the strongest currency in the world, it is worth $3.39 & 210.37 INR. Year after year, Kuwaiti Dinar has maintained its consistency as the world’s most valuable currency. This shouldn’t come as a surprise as the country is a major producer and exporter of oil in the world and the presence of this and proper management has boosted their economy. The reasons for this are not far-fetched considering that Kuwait is one of the world’s biggest suppliers of oil. Endowed with abundant oil and through shrewd management of its natural endowments, the government of Kuwait has been able to keep the country’s economy at a steady growth rate. Kuwait is an Arabic country bounded by Saudi Arabia and Iraq. So when next someone asks you for the highest currency in the world, tell him/her it is the Kuwaiti Dinar.
2. BAHRAINI DINAR BHD
- INR 168
Like Kuwait, Bahrain is another Middle Eastern country that has dinar as its basic monetary unit, a small island/country located nearby the western shorelines of the Persian Gulf. Being another influential oil-producing country, Bahrain has taken advantage of its natural endowments to strengthen its economy. Consequently, the Bahraini Dinar fits perfectly into the world’s monetary system as the second most valuable currency in the world. Their currency value to a dollar is $2.65 and Indian rupee is 168.10 INR. The reason why this island country’s currency is priced high is due to the presence of oil in large quantity in the country.
Unlike some oil-rich but poorly managed countries, Bahrain has all the potentials needed to extract and refine its vast oil by itself. With the help of its high-developed refining industry, the country needs no foreign support to refine its vast oil after extraction. Moreover, it is noteworthy to state that the Bahraini Dinar maintains a great stance on the global currency floor while its strong oil sector is obviously the reason for this. Besides, it is often said that Bahrain adopts an excellent foreign exchange policy which has constantly strengthened its currency.
3. OMANI RIAL OMR
- INR 164.67
This currency is the official currency of Oman, an Arabic country located also in the middle east, an affluent Arab nation which adopts Omani Rial as its legal tender. Oman is one of the richest countries in the world due to the presence of oil reserves. Omani Rial is considered the third most valuable currency in the world, Omani Rial has outdone several other strong currencies –including dollar, yen, and euro –on the international exchange floor. This currency is worth $2.60/164.67 INR, making it the third highest currency in the world against Indian rupee and dollar 2018.
As an Arab territory, Oman stretches across the south-eastern coast of the Arab Peninsula and it is very prominent for a diverse number of activities including wide-range exportation of minerals among which are limestone, natural gas, asbestos, and copper. Like Bahrain, Oman has made good use of its effective policy to stabilize its economy and buttress its currency value. Currently, a single Omani Rial is equivalent to 2.60 US dollar.
4. Latvian Lat
- INR 103.38
Latvian Lat is a strong and globally influential currency as well as the legal tender of Latvia –a European country. Like many other currencies, the Latvian Lat is denoted with a unique code which is commonly written as LVL and currently, it is more valuable than popular global currencies like euro, dollar, and yen. Currently the fourth highest currency in the world. In the international exchange market, 1 Latvian Lat is of the same value as 1.61 US dollar. In further exchange rates, 1 Latvian Lat is equivalent to the sums of $1.61 and 103.38 in naira and rupee respectively.
5. Jordanian Dinar
- $ 1.41
- INR 89.26
As officially known, Jordanian Dinar is the basic monetary unit of Jordan and it is more valuable than the US dollar. For easy recognition, the Jordanian Dinar is represented with the code JOD. In view of Jordan’s geographical nearness to the European continent, Jordanian Dinar is often compared with the euro –the basic monetary unit of Europe. On the international exchange floor, 1 Jordanian Dinar commands the same value as 1.41 US dollar. In comparison with other well-known currencies, 1 Jordanian Dinar is equivalent to the sums of 89.26 in naira and rupee respectively, making it the fifth highest currency in the world 2018.
6. BRITISH POUND GBP – £
- INR 85.93
Pounds is the official monetary unit of Britain, this currency is officially known as Pound Sterling, As far back as 780 years, it has maintained its stance as one of the most significant global currencies, particularly in trading relationships. The Pounds sterling is the 6th highest currency in the world worth $1.36/INR 85.93. It is used in countries such as Jersey, United Kingdom, South Georgia and the South Sandwich Islands, Isle of Man, Guernsey, the British Antarctic Territory and also Tristan da Cunha.
7. Gibraltar Pound
- INR 85.67
Gibraltar Pound is the legal tender of Gibraltar –a less prominent European country. For the fact that Gibraltar isn’t a famous country, only a few people know Gibraltar Pound. In spite of that, Gibraltar Pound commands great monetary value even more than both US dollar and European euro. Since Gibraltar is a European country, it is often believable that the Gibraltar Pound is best compared with the European euro. In the global exchange system, Gibraltar Pound is the seventh highest currency in the world with an equivalent of 1.36 US dollar and 85.67 Indian rupees.
8. EURO EUR – €
- INR 76.53
This currency is worth $1.07/76.53 INR and the 5th most expensive currency of the world. Euro is a powerful currency not only for its influence in world trade but also for being the currency of numerous Eurozone countries which consists of 19 out of the 28 countries of Europe. These countries include Belgium, Cyprus, Austria, Germany, France, Finland, Ireland, Finland, Estonia, Italy, Latvia, Greece, Lithuania, Malta, Netherland, Portugal, Slovakia, Slovenia, Spain, Portugal, and Luxembourg.
9. Cayman Island Dollar
- INR 76.06
Officially issued by Cayman Islands Monetary Authority, Cayman Island Dollar is another strong currency and it serves as the basic monetary unit of Cayman Islands. Despite not being a well-known currency, Cayman Island Dollar commands great influence as one of the most valuable global currencies. Meanwhile, Cayman Islands maintain its strong currency as a result of vibrant and large-scale trade in cargo ships, passenger ships and petroleum gas. As it stands, a single Cayman Island Dollar is equivalent to 1.20 US dollar and 76.06 INR in the international exchange market.
10. SWISS FRANC CHF
- INR 64.95
Although it is not as valuable as the European euro, Swiss Franc is undoubtedly one of the strongest global currencies usually compared with the US dollar and the widely-used European euro. Notably, Swiss Franc is the basic monetary unit of Switzerland and in view of Switzerland’s stance as one of the best economies in the world, the country has been able to strengthen its currency. Meanwhile, some observers claim the Swiss Franc has experienced rapid growth over the years due to the secretive banking system adopted by the Swiss government. At the moment, the Swiss Franc is fairly better than the US dollar in the exchange rate of 1 Swiss Franc equals 1.02 US dollar. This makes it the 7th most expensive currency of the world.
11. UNITED STATES DOLLAR USD – $
This currency is the most used in international transactions and most known by people around the world.
Being the basic monetary unit of the United States of America –arguably the world’s most powerful country –the US dollar commands popularity. It has always remained a globally recognized basis for estimating the values of all other currencies in the world. Despite the fact that the US dollar doesn’t fit into the top ten most powerful global currencies, it maintains its strong value and many forex traders are fond of comparing it with the European euro. In view of America’s global influence and its advancement in technology, the US dollar remains one of the most dominant currencies in the international market. In exchange rates, a single US dollar is equivalent to the sums of 360.01 and 63.38 in Nigerian naira and Indian rupee respectively.
12. Canadian Dollar CAD
- INR 50.62
Canadian Dollar is the widely recognized monetary unit of Canada. It is usually represented with the code CAD and under the influence of Canada’s huge immigration base, the Canadian dollar has always been in high demand. Like the US, Canada is another prominent and fast-growing country. Over the years, Canada has made good use of its mineral endowments to steer its economy into continuous growth. Besides, Canada is occupied by many immigrants who value its collegiate education system as well as its vibrant employment scheme. At the moment, 1 Canadian Dollar bears the same value as 0.80 US dollar and 50.62 Indian rupee.
13. Australian Dollar
- INR 49.79
Since it replaced Australian pound, Australian Dollar –represented with the code AUD –has long remained the currency of Australia. Situated along the eastern and southern coast, Australia is very prominent for its mineral endowments which comprise zinc and iron ore. Through effective use of its mineral endowments, Australia has succeeded in giving global influence to its currency as well as strengthening the phase of its economy. In the foreign exchange market, 1 Australian dollar is equivalent to 0.79 US dollar and as regards further exchange rates, it is equal to the sums of 282.74 and 49.79 in Nigerian naira and Indian rupee respectively.
14. BRUNEI DOLLAR BND
- INR 47.72
Since it was introduced in 1967, Brunei Dollar has stood its ground as the basic monetary unit of the Sultanate of Brunei, a southeast Asian country. This country is a small country that is one of the richest countries in the world. Although Brunei is a less prominent Asian country, it boasts of substantial natural resources including timber and natural gas. Through favorable economic standards and significant domestic activities, Brunei has succeeded in keeping the value of its currency at a steady rate in the international market. This currency is also used in Singapore as it has almost the same value. 1.34 Brunei dollars is exchanged for a US Dollar. Meanwhile, current exchange rates to indian rupee is 47.72 INR.
15. LIBYAN DINAR LYD
- INR 46.62
The Libyan Dinar is the only currency from the African continent that made it to the list of top 10 strongest currencies of the world. Like several other Arab nations, Libya has dinar as its basic monetary unit. Significantly, Libyan Dinar –represented with the code LYD –has grown stronger and is widely regarded as the most valuable currency in Africa. Libya is situated in the Northern region of Africa and the strong influence of its currency is a direct result of the vast deposit of crude oil in its land. Alongside Nigeria, Venezuela, UAE and several others, Libya is a leading member of OPEC (Organization of Petroleum Exporting Countries). Due to the increased demand for its sufficient oil, Libya has succeeded in consolidating its currency in the world market. At the moment, 1 Libyan Dinar is equivalent to 0.74 US dollar and 46.62 INR.
16. SINGAPORE DOLLAR SGD
- INR 47.75
As stated above, the value of the Singapore Dollar was at a point equal to that of Brunei dollar. The currency is used both in Brunei and Singapore, making it among the highest currency in the world.
With years of constant economic growth and immense development in its education sector, Singapore has carved out a niche for itself among the world’s most visited countries. Many travelers/explorers admire serene environments with high-developed education systems and this is probably why there is increased demand for Singaporean Dollar. Denoted with the code SGD, Singaporean Dollar has given Singapore a significant edge in the international market. Currently, 1 Singaporean Dollar is worth 0.75 US dollar and 47.55 INR.
17. New Zealand Dollar NZD
- INR 45.29
New Zealand is a naturally endowed country situated in the south-western part of the Pacific Ocean. Under the influence of its substantial mineral base –comprising limestone, gold, coal, sand, iron ore and natural gas –New Zealand has derived benefits from the global exchange market. Represented with the code NZD, New Zealand Dollar has stood its ground among the world’s most valuable currencies and currently, it is equivalent to 0.71 US dollar and 45.29 INR.
18. Brazillian Real BRL
- INR 19.64
Real is the basic monetary unit of Brazil –one of the prominent countries on the continent of South America. Year after year, Brazilian Real surfaces among the highly demanded currencies in South America. Besides Brazil’s global influence in the field of football, the country boasts of a large deposit of iron ore and many foreigners admire its beautiful tourist attractions. Current statistics in the foreign exchange market show that 1 Brazilian Real is equal in value to 0.31 US dollar and 19.64 INR.
19. Isreal New Shekel ILS
- INR 18.38
The shekel is the basic monetary unit of Israel and it is commonly denoted with the code ILS. For the fact that long-existing Israel is one of the best countries to visit for tourist attractions, thousands of people are always demanding for its currency. Considered one of the Middle Eastern countries, Israel relies heavily on its oil and raw material potentials but it is widely recognized for its vast deposit of potash and copper ore. Fitting into this list as the twentieth highest currency in the world, a single Israeli Shekel commands the same value as 0.29 US dollar and 18.38 INR.
20. Turkish Lira TRY
- INR 16.90
Lira is the basic monetary unit of Turkey –a prominent country on the European continent. Significantly, Turkey has taken advantage of its constant exportation and enormous production of minerals (such as copper and coal) to attain standard economic development and strengthen the international stance of its currency. Denoted with the code TRY, 1 Turkish Lira is currently equivalent to 0.27 US dollar and 16.90 INR.
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