10 Highest Currencies in the World in 2023, Fantastic Exchange Rates!

10 Highest Currencies in the World – Each country has a different currency. The value of the currency is also influenced by how strong the economy in that country is. To date, there are about 180 currencies recognized by the United Nations.

The US dollar (USD) is the most widely used currency in global trade. Thus, USD is used as a reference to measure the highs and lows of a currency.

Even so, USD is not the highest currency in the world, you know! Precisely countries that have abundant resources such as oil and gas rank first.

10 Highest Currencies in the World in 2023

Then, which country has the highest currency? Check out the following information!

1. Kuwait Dinar (KWD)

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The first position of the highest currency is held by the Kuwaiti Dinar (KWD). Nominal 1 KWD is equivalent to 49.093 (Indonesian Rupiah). Apparently, this is supported by Kuwait’s strong economy in the world’s oil sector.

In fact, Kuwait is the country with the largest petroleum reserves and obtains 80% of global revenue from the oil industry. In addition, Kuwait will not be affected by classification or inflation due to the assets it owns.

2. Dinar Bahrain (BHD)

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Similar to Kuwait, the country of Bahrain also has a high currency due to its strong economy in the oil and gas sector. The nominal 1 Bahrain Dinar (BHD) is equivalent to IDR 40.411. The high value of Bahrain’s oil exports also contributed to the strength of the BHD currency.

3. Rial Oman (OMR)

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The Omani Rial or OMR is the currency of the country of Oman, which relies on most of its global income from its world oil reserves. Nominal 1 OMR is equivalent to IDR 39.589.

The country’s strength lies in its low debt-to-GDP ratio. So Oman becomes an attractive country for investors to keep the currency strong. In fact, Oman has managed to maintain the value of its money for more than 50 years, you know!

4. Jordan Dinar (JOD)

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Jordan is a country with a relatively worse economy than its neighbors in the Middle East. Even so, the Jordanian Dinar (JOD) is the most stable and high.

This is influenced by Jordanian government regulations that limit the value of the currency. Nominal 1 JOD is equivalent to Rp. 21.499.

5. Cayman Islands Dollar (KYD)

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The Cayman Islands Dollar or KYD is the currency of the United Kingdom which has economic strength in the financial sector, especially taxation. Nominal 1 KYD is equivalent to IDR 18.526. In addition, the United Kingdom is also an ideal place for international companies because it is considered a paradise paper or ‘tax haven‘.

6. Pound Sterling (GBP)

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Shifted to continental Europe, Pound Sterling became the most vital currency among its neighbors. The nominal 1 GBP is equivalent to IDR 16.423, only slightly different from the KYD eye.

The strength of the GBP currency lies in its high-interest rates. Because the higher the interest rate of a country, the more attractive the currency is to investors.

7. Franc Swiss (CHF)

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The Swiss franc or CHF is the currency of Switzerland and Liechtenstein. The CHF currency can be strong because the country relies on a closed banking sector so that it becomes a safe haven for international capital. Nominal 1 CHF is equivalent to IDR 15.540.

8. US Dollar (USD)

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The United States Dollar or USD is the most widely used currency globally. In addition, the USD is also a benchmark to measure the strength of the value of other currencies.

The nominal value of 1 USD is equivalent to IDR 15.241. As long as the USD continues to be the currency used in global trade, this currency will always occupy the highest currency position for several years.

9. Euro (EUR)

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The euro or EUR is the currency of a group of countries known as the European Area (Euro Zone), which includes 19 of the 27 European countries in the European Union. No wonder the Euro continues to have a stable currency from year to year. The nominal 1 EUR is equivalent to IDR 14.744.

10. Canadian Dollar (CAD)

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The tenth place is the Canadian Dollar or CAD, a nominal 1 CAD is equivalent to IDR 11.145. The strength of the Canadian currency lies in its abundant natural resources, one of which is uranium. In fact, Canada is the second largest uranium supplier in the world.

*The above currency values ​​are as of September 29, 2023. The order and currency values ​​are subject to change.*