CURRENCIES OF WORLD- MOST EXPENSIVE & INEXPENSIVE

The foreign exchange market is an ever-changing and fluid market. The value of a particular currency can go up and down. This totally depends on the economy and political stability of the country it originates from. Each currency holds a different value compared to other currencies, and this value can change within a matter of minutes.

Below are listed the top 5 most expensive currencies and the top 5 cheapest currencies in the world.

You might be thinking that the list of most expensive currencies will start with the US Dollar. But to your surprise, this is not the case, Dollar is not the most valued currency in the world. Still, all currencies are valued against the US Dollar, or it is the standard by which the value of all other currencies is measured. This is due to the fact that the US Dollar is the most widely used currency in the world and, consequently, the most traded currency. It is the benchmark for all other currencies in the world. As a result, people consider it a dependable currency with a relatively stable value, and it finds use in the majority of international trade and financial transactions.

TOP 5 EXPENSIVE CURRENCIES 

1. Kuwaiti Dinar (KWD): Kuwaiti Dinar is the official currency of Kuwait. Since 1997 it has been the most expensive currency in the world owing to the country’s large oil reserves. It is well known for its stability and low inflation rate.
2. Bahraini Dinar (BHD): The Bahraini Dinar is the second-most expensive currency in the world. Currency traders and speculators frequently employ it in international transactions, and it enjoys high demand.
3. Omani Rial (OMR): The Omani Rial is the official currency of Oman. It is currently the 3rd most expensive currency in the world. Oil exports back the currency, which is conventionally utilized in the Arabian Gulf region for international transactions.
4. Jordanian Dinar (JOD): The Jordanian Dinar is the 4th most expensive currency in the world. It is regularly used by tourists in Jordan and is known for its stability and low inflation rate.
5. British Pound (GBP): The British Pound is the official currency of the United Kingdom. It is currently the 5th most expensive currency in the world. It has an exchange rate of 1 GBP = 1.25 USD. Currency traders and speculators widely accept it in international trade, considering it a favorite.

TOP 5 INEXPENSIVE CURRENCIES

1. Iranian Rial – The Iranian Rial is the cheapest currency in the world. Iran’s currency has been in decline since its reintroduction in 1932, with skyrocketing inflation causing its value to plummet. This is primarily due to years of international sanctions as well as Iran’s dependence on its oil exports. In 1979, the Islamic Revolution triggered numerous businesses to depart due to the uncertain nature of the situation, making the situation worse. 
2. Vietnamese Dong – The Vietnamese Dong is the second-most inexpensive currency in the world. Limited international investment opportunities hindered the Socialist government in Vietnam, leading to decades of stunted growth for the Dong.
3. Sierra Leonean Leone – The Sierra Leonean Leone is the third-most inexpensive currency in the world. The Leone is a weak currency due to Sierra Leone’s economic instability due to years of civil war, social unrest, and corruption.
4. Laotian Kip (LAK): Laotian Kip is the fourth-cheapest currency in the world. The swift decline of the Kip is due to the country’s lack of any significant international investments from outside its borders as well as its reliance on exports from other nations.
5. Indonesian Rupiah – The fifth-cheapest currency in the world is the Indonesian Rupiah. Despite Indonesia being an economically stable and quite developed country, its currency, the rupiah, has suffered from depreciation in previous years. Although the rupiah has been showing some strength so far in 2023 compared to other Asian currencies, this does not protect it from further weakening.