(Most valuable currencies of the world) What money do you use depends on where are you living or planning to travel. Totally, there are 180 official national currencies circulating around the world. In the world of foreign exchange, currency trading is the name of the game. All the counties have specific types of currency notes. Thus, the current economic condition of the country decides its value. A value of money is always relative with respect to all those countries it trades with. There are currencies that are the most profitable to trade in. Recently, top-10-list.org drew up a list of 10 best currencies of the world. For the record, the Indian rupee does not figure among the top 10 currencies.
Here is the complete list of most valuable currencies of the world!
Number 1 on the list of most valuable currencies of the world is the US Dollar. The official currency of the United States is the dollar. It is the most dominant currency unit today. The world’s most traded currency is the US Dollar. It includes about 48% share of global payments and 87% of the forex market’s daily turnover. Thus, the ‘dollarization’ is the process of using one country currency in a different economy.
On the second place is the Euro. It accounts about 37% of the daily forex transactions and 29% share of the international bank payments. The euro is the official currency of the eurozone. Moreover, this includes 19 countries of Europe.
Peculiarly, Euro has the highest combined value of banknotes and coins in-circulation, even surpassing US dollar. This makes the euro-zone the world’s second largest economy.
Yen derives from the Japanese word Chinese Yuan meaning ‘’round object’’ is the official currency of Japan. After, the World War 2, the Japanese yen suffered a lot of appreciation and depreciation. And now the third most traded currency in the foreign exchange market is Yen. It includes about 20% of the daily forex transactions.
The pound sterling commonly known as British pound is the world’s oldest currency. This is the world’s third most held reserve currency. The Bank Of England is the central bank for the pound sterling, issuing its own coins and banknotes. It forms the basket of currencies to calculate the value of International Monetary Fund.
The Australian Dollar is the currency of Australia. “Aussie dollar” commonly abbreviated with ‘’AU$” is the common form to represent this currency.
Amazingly, the silver $5 coin is 99.9% silver. This currency is the only currency that has gone through several transformations. This includes series of paper to different kinds of polymers. Today, it accounts about 7.8% of the world’s share.
This is the legal tender of Switzerland, Liechtenstein, and the exclave of Italy Campione d’-Italia. The Swiss National Bank issues the banknotes of Swiss Franc. This currency has almost nine series having different color spectrum. This includes about 6 per cent of the daily transactions in the forex market.
This is the official currency of the economic sound, strong sovereign positioned, and legally and politically stable country Canada. This is the reason of popularity of Canadian dollars with central banks. It accounts for about 2% of global reserves.
The word krona meaning crown is the currency belonging to Sweden. Its ISO code is “SEK”. In 2013 this became the 11th most traded currency in the world. Now, improving its position it stands 8th worldwide.
Hong Kong Dollar
In 1841 Hong Kong was a free trading port country. There was no local currency at that time. People used foreign currency those days. It gained its position and now it accounts for almost 2% of the daily transactions in the Forex market.
Norwegian Krone is the trading currency of Norway. It is at the tenth position in the list of world’s top ten most valuable currencies. It contributes about 1.5% of the daily transaction in the forex market.
Here, is the summary of World’s Top 10 most valuable currencies of the world in terms of US $:
|Currency||Country||Compared with US $|
|USD||United States||1 US $|
|Hong Kong Dollar||Hong Kong||0.13|
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