Currency is not just only a medium of exchange but also a recognized stores of a value of the respective country. Currencies are defined by government and each has limited acceptance. The power of the currency to buy in the international market depicts its value. Anyway, according to the Life in Saudi Arabia, here is the list of top 5 most valuable currencies in the world:
1. Kuwaiti Dinar
Kuwaiti Dinar is the official currency of Kuwait. It is the world’s highest-valued currency unit. One Dinar has the value of 3.29 US Dollars. the country has the fourth-highest per capita income in the world, according to the World Bank.
2. Bahraini Dinar
Bahraini Dinar is the second highest valued currency in the world. One Bahraini Dinar is equal to 2.65 US Dollars. Bahrain has a high Human Development Index and was recognized by the World Bank as a high-income economy.
3. Omani Riyal
Omani Riyal is an official currency of Oman. One unit of Omani Riyal is equal to 2.60 US Dollars. A large portion of its economy comes from tourism, trade of fish, dates, and certain agricultural produce. It is categorized as the high-income economy.
4. Latvian Lat
Latvian Lat was the currency of Latvia until it was replaced by the euro on 1 January 2014. One unit of Latvian Lat equals 1.61 US Dollars.
5. Falkland Island Pounds
It is the official currency of The Falkland Islands (a British overseas territory). Falkland Island Pounds has the value of 3.29 US Dollars.