Rupiah’s Position in the World’s Highest Currency Rankings
Every year, the world’s highest currency rankings are updated by changes in exchange rates that occur in the global market.
This currency ranking reflects a country’s economic condition and is an important indicator in determining its position in the global market.
It is important to understand that currency exchange rates tend to fluctuate. Therefore, the rankings of the highest and lowest currencies in the world can change every year.
Some of the factors that affect the strength of a country’s currency include inflation rates, monetary policy, political issues, and uncertainty in the global market.
Now, to find out the list of the highest currencies in the world to the countries with the largest order of crypto assets, check out the full review below!
List of 15 Highest Currencies in the World 2024
Quoting sahabat.pegadaian.co.id and other sources, here are the fifteen (15) currencies with the highest value in the world today that should be of concern to business people involved in export-import and investors, among others:
1. Kuwaiti Dinar (KWD)
In 2024, the highest currency in the world will be the Kuwaiti dinar (KWD), with an exchange rate of 3.26 US dollars.
It is known that 1 American dollar is equivalent to 0.31 Kuwaiti dinars. Kuwait, located between Saudi Arabia and Iraq, is known as a large oil-producing country and the main pillar of its wealth.
Despite its dependence on rich oil resources, the Kuwaiti government continues striving to develop the country’s economy by diversifying it.
2. Bahrain Dinar (BHD)
The second highest-ranked currency in the world is currently held by the Bahrain dinar (BHD). The exchange rate of 1 Bahraini dinar is equivalent to 2.65 American dollars, while 1 American dollar is equivalent to 0.38 Bahraini dinars.
Bahrain, an island nation located in the Persian Gulf, off the coast of Saudi Arabia, relies on wealth from the oil and gas export business, like other Middle Eastern countries.
In addition, Bahrain also strengthens the value of its currency by optimizing banking and financial sector services.
3. Omani Rial (OMR)
The Omani rial is ranked third on the list of the highest currencies in the world. One rial equals 2.60 American dollars, while 1 American dollar is worth 0.38 rials.
Oman, located between the United Arab Emirates and Yemen at the tip of the Arabian peninsula, strengthens its economy as one of the major exporters of oil and gas in the Middle East.
Apart from relying on the oil and gas export sector, Oman has also directed its attention to the development of the tourism sector, introducing its alluring charm to tourists from various countries.
4. Jordanian Dinar (JOD)
The Jordanian dinar is ranked fourth on the world’s top currencies list, replacing the Palestinian pound since 1950. One Jordanian dinar equals 1.41 American dollars, with 1 American dollar worth 0.71 Jordanian dinars.
Unlike its neighbors in the Middle East, Jordan focuses more on developing the tourism sector and historical sites, such as Petra.
In addition to strengthening the tourism sector, Jordan also exports chemicals, chemical products, and clothing to strengthen its position in the global market.
5. Pound Sterling (GBP)
The pound sterling is in fifth place on the list of the world’s highest currencies. As one of the most widely used currencies, 1 pound sterling is 1.28 US dollars, while 1 US dollar is equivalent to 0.78 pounds sterling.
The pound sterling has been the official currency of the United Kingdom and its territories since 1971.
London’s presence as a global financial center and the breadth of British trade have contributed greatly to the strength of the pound sterling.
6. Pound Gibraltar (GIP)
Sixth on the list of the world’s highest currencies is the Gibraltar pound, with 1 Gibraltar pound equivalent to 1.28 American dollars, while 1 American dollar has a value of 0.78 Gibraltar pounds.
Gibraltar is located at the southern tip of Spain and is officially still a territory of the United Kingdom. Gibraltar’s economy is supported by the growth of the financial sector, tourism industry, and online gaming.
The Gibraltar pound currency was first recognized in the 1920s, followed by a peg to the British pound, where 1 GIP equals 1 GBP.
7. Cayman Islands Dollar (KYD)
Ranking seventh on the list of the highest currencies in the world is the Cayman Islands dollar (KYD), where 1 dollar is equivalent to 1.20 American dollars. In contrast, 1 American dollar is worth 0.83 Cayman Islands dollars.
The Cayman Islands, which are in the British territory of the Caribbean, are known as an offshore international financial center. An island nation, Cayman relies on its financial sector and tourism industry to bolster its economy.
8. Swiss Franc (CHF)
Ranking eighth on the list of the world’s highest currencies, the Cayman Islands dollar (KYD) has a value of 1 dollar, equivalent to 1.20 American dollars. In comparison, 1 American dollar is valued at 0.83 Cayman Islands dollars.
The Cayman Islands, located in the British territory of the Caribbean, are known as an offshore international financial center. As an island nation, Cayman relies on its financial sector and tourism industry to power its economy.
9. Euro (EUR)
The euro, as the official currency of 20 of the 27 countries in the European Union, has a value of 1 euro, equivalent to 1.10 US dollars, while 1 US dollar is worth 0.91 euros.
As the second most traded currency in the world, the Euro is one of the strongest currencies globally.
10. United States Dollar (USD)
Ranked 10th on the list of the world’s top currencies, the US dollar comes in last. As a standard, 1 US dollar is used as a benchmark to measure the strength of other countries’ currencies.
The United States has the largest Gross Domestic Product (GDP) in the world. The US dollar is the most widely used currency in global trade.
In addition, the US dollar also has a role as the world’s largest reserve currency, the most widely held asset by central banks.
Therefore, the US dollar is used as a benchmark in determining the prices of various commodities, including gold, oil, and copper.
11. Brunei Dollar (BND)
The Brunei Dollar currently has an exchange rate of approximately 0.74 USD per 1 Brunei Dollar. This currency represents a relatively high value, considering Brunei’s relatively small size and population.
One of the main factors influencing the strength of the Brunei Dollar is the country’s wealth of natural resources, particularly oil and natural gas.
Brunei manages its natural resources effectively, contributing significantly to its economic stability and currency value.
12. Canadian Dollar (CAD)
The Canadian Dollar is the official currency of Canada. As Canada is connected to the United States through trade, the value of the Canadian Dollar fluctuates significantly based on the continual value of the United States Dollar.
The Canadian Dollar is considered strong because Canada is the world’s second-largest source of uranium and crude oil. Therefore, the Canadian Dollar is highly dependent on fluctuations in global oil prices.
Due to the country’s political stability, the Canadian Dollar accounts for about 5% of daily trading in the Forex market. With the currency code CAD, the exchange rate is 1 CAD = 0.74 USD.
13. Australian Dollar (AUD)
The Australian Dollar is the official currency in Australia, Kiribati, Nauru, Tuvalu, and several other territories. The current Australian Dollar rate is 1 AUD = 0.72 USD or around Rp 10,210.
The Australian Dollar is also heavily influenced by the prices of commodities such as coal, iron, gold, and wheat, as Australia is a major exporter of these commodities.
14. New Zealand Dollar (NZD)
The New Zealand dollar (ISO 4217: NZD, often called NZ$ or NZ dollar, and unofficially known as the Kiwi dollar) is the official currency used in New Zealand, the Cook Islands (Cook Islands dollar), Niue, Tokelau, and the Pitcairn Islands.
It is printed, and the Reserve Bank of New Zealand regulates its use. The New Zealand Dollar was introduced in 1967 to replace the New Zealand Pound when the country decimalized its currency.
The NZD consists of 100 cents. On June 14, 2013, the exchange rate of 1 US dollar was 1.242661 NZ dollars, 1 Euro was worth 1.658130 NZ dollars, 1 Australian dollar was equivalent to 1.189164 NZ dollars, and 1 pound sterling was worth 1.951785 NZ dollars.
15. Azerbaijan Manat (AZN)
You may not be familiar with this type of currency. However, the manat has a fairly strong exchange rate compared to other European currencies. Two countries that use this currency as legal tender are Azerbaijan and Turkmenistan.
The manat has the international code AZN, commonly written with the symbol 
. Currently, the exchange rate of 1 AZN is equivalent to USD 0.59. If converted into IDR (Indonesian rupiah), this value is approximately IDR 9,322.
Where Does the Rupiah Rank in the World?
Referring to information from Bizhare recorded on December 7, 2023, although Indonesia’s economic growth is considered relatively stable, the rupiah (IDR) still ranks as one of the lowest currencies in the world. Currently, the exchange rate of one US dollar is around IDR 15,517.
Meanwhile, the Index Mundi page regularly updates currency exchange rates against the US dollar worldwide with data from the International Monetary Fund (IMF) and International Financial Statistics.
Since 2018, the Indonesian rupiah has ranked 5th with the lowest value globally.
10 Countries with the Largest Percentage of Crypto Assets Owned
Quoting databoks.katadata.co.id, cryptocurrency is becoming an increasingly attractive financial investment instrument for investors worldwide, including Indonesia.
According to a report from We Are Social and Hootsuite, Indonesia is ranked sixth with the highest number of crypto asset owners worldwide.
In January 2023, around 20.1% of internet users between the ages of 16 and 24 in Indonesia were known to own crypto assets. Turkey is the country with the largest crypto asset ownership in the world, reaching 27.1%.
Meanwhile, Argentina and the Philippines occupy the next position with a level of crypto asset ownership of 23.5% and 23.4%, respectively. Here’s a list of the 10 countries with the largest percentage of internet users who own crypto assets in January 2023:
- Turkey: 27.1%
- Argentina: 23,5%
- Philippines: 23,4%
- Thailand: 21,9%
- Brazil: 20,6%
- Indonesia: 20,1%
- United Arab Emirates: 19.6%
- South Africa: 19%
- Vietnam: 18,5%
- Netherlands: 17,6%
Conclusion
In conclusion, currency fluctuations are inseparable from the impact of inflation and global economic instability. These factors significantly affect currency exchange rates in the global market.
In addition, it is also important to note that the trend of using cryptocurrencies has been growing in recent times. In this regard, several countries, including Turkey, Argentina, and the Philippines, share the largest crypto asset holdings globally.
This phenomenon also reflects a shift in how digital financial instruments are used and perceived in different parts of the world.
With this growth, an in-depth understanding of currency fluctuations and the evolution of cryptocurrencies is essential in making wise investment decisions amidst the changing dynamics of the global economy.
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