By James Marsh
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3. Omani Rial (1 OMR = 2.60 USD)
5. UK Pound Sterling (1 GBP = 1.53 USD)
7. European Euro (1 EUR = 1.32 USD)
9. Cayman Islands Dollar (1 KYD = 1.22 USD)
This is the current list dated March'2013 and is ranked per their value against US Dollar. Most valuable currency doesn't necessarily mean that the currency is better investment option or that it represents a better economic health of a nation. Please find below the list of expensive currency in their order of expensiveness:
1. Kuwaiti Dinar (1 KWD= 3.51 USD)
In an area slightly smaller than New Jersey, lies the home of the world’s most valuable currency. Kuwait has been involved in talks this year with five other Gulf Arab monarchies to form a single currency. The Kuwait currency is currently pegged to the dollar.
2. Bahrain Dinar (1 BHD= 2.65 USD)
A small island nation, approximately 3.5 times the size of Washington DC, Bahrain is geographically central in relation to its Persian Gulf neighbors. Its industry relies on petroleum production and refining, as well as financial services and construction. With an exchange rate to the US dollar at around $2.66 for one Bahraini Dinar, it’s the third most valuable currency in the world. It’s also expected to be relatively steady, as it was officially pegged to the dollar in 2001.
3. Omani Rial (1 OMR = 2.60 USD)
Oman, a country on the east coast of Africa, has had its currency exchange rate pegged to the dollar at a rate of 1 OMR = $2.60 US since 1986. With that pegged relationship holding firm, seems as though the Rial’s fate remains tied to the fate of the dollar.
4. Latvian Lats (1 LVL= 1.88 USD)
One Lats is currently worth $2.135 US. The country, about the size of West Virginia, has entered the process to phase out the Lat in favor of the Euro, which is expected to be the official currency around 2012.
5. UK Pound Sterling (1 GBP = 1.53 USD)
This holiday season, it seems now more than ever, citizens of the UK are taking advantage of their favorable exchange rate and coming to the US, where for them everything is half-off.
6. Jordanian Dinar (1 JOD =1.41 USD)
Jordan may lack water and crude oil but the Mideast kingdom has one thing going for it – a strong currency.
7. European Euro (1 EUR = 1.32 USD)
Officially introduced in 1999, the multinational Euro didn’t begin changing hands until January 2001. After a rocky start, the Euro has gained on the dollar for years.
8. Azerbaijan Manat (1 Manat = 1.27421 USD)
After gaining independence in 1991, Azerbaijan became a member of the International Monetary Fund, the World Bank, the European Bank for Reconstruction and Development, the Islamic Development Bank and the Asian Development Bank.[116] The banking system of Azerbaijan consists of the Central Bank of Azerbaijan, commercial banks and non-banking credit organizations.
9. Cayman Islands Dollar (1 KYD = 1.22 USD)
With no direct taxation, the islands thrive as an offshore financial center, with hundreds of banks, insurers and mutual funds. One Cayman Islands Dollar equals $1.21 US.
10. Switzerlandfranc (1 Franc = 1.07 USD)
Switzerland has a stable, prosperous and high-tech economy. In 2011, it was ranked as being the wealthiest country in the world in per capita terms (with 'wealth' being defined to include both financial and non-financial assets).[74][75] It has the world's nineteenth largest economy by nominal GDP and the thirty-sixth largest by purchasing power parity. It is the twentieth largest exporter, despite its size. Switzerland has the highest European rating in the Index of Economic Freedom 2010, while also providing large coverage through public services.