Wondering what the highest currencies in the world are?
Firstly, it’s important to note that the concept of the “highest currency” can be interpreted in different ways.
For example, a currency could be considered the highest in terms of its exchange rate against other currencies, or it could be considered the highest in terms of the purchasing power of its units.
In this article, we have listed the 50 highest currencies in the world, based on their exchange rate with the US dollar in September 2023.
Therefore, the number one “highest currency” in this list is the currency that gives you the smallest currency return for one US dollar.
50. Colombian Peso (3990.14)
Coming in at number 50 on our list of the world’s highest currencies is the Colombian Peso. While the Colombian Peso may not be the strongest, its significance in South America’s economy is undeniable. The currency plays a vital role in Colombia’s bustling markets, from the energetic street vendors of Bogotá to the thriving coffee export industry.
49. South Korean Won (1325.58)
The South Korean won has endured a turbulent ride in recent years, with its value against the US dollar fluctuating significantly. As with any currency, the value of the won is determined by a range of economic and political factors, including interest rates, trade balances, and government policies. Overall, the won remains a relatively stable currency, but its strength against the dollar can certainly fluctuate.
48. Chilean Peso (891.69)
At 48 on our list of the highest currencies in the world is the Chilean peso. Like the South Korean won, the peso has been dropping significantly, with its value down nearly 20% on the US dollar over the past five years at the time of publication. The Peso is the official currency of Chile, a South American country known for its natural beauty and strong economy. The peso is symbolized by the “$” sign and is divided into 100 smaller units called centavos. Despite its more recent poor performance, the peso has a long history, with its origins dating back to the early 19th century.
47. Kazakhstani Tenge (459.29)
The Kazakhstani tenge is the official currency of Kazakhstan, a country located in central Asia. The tenge is symbolized by the “₸” sign and is divided into 100 smaller units called tiyn. At 47th on our list of highest currencies in the world, the tenge has been struggling against the US dollar in recent times and at the time of publication is down almost 30% over the past five years.
46. Hungarian Forint (357.48)
At the time of publication, the Hungarian forint is down more than 30% on the US dollar over the past five years. The official currency of Hungary, the forint is symbolized by the “Ft” sign and is divided into 100 smaller units called fillér. The forint was introduced in 1946, replacing the pengő as the national currency of Hungary. Since then, the forint has been relatively stable, although its value has fluctuated somewhat against other major currencies.
45. Argentine Peso (349.97)
The Argentine peso has been particularly volatile in recent years and has experienced significant depreciation against the US dollar. At the time of publication it is down 88% over the past five years. This has been due in part to economic and political instability in Argentina, including high levels of inflation and government debt, as well as the impact of external factors such as changes in global market conditions and the performance of other currencies.
44. Sri Lankan Rupee (322.01)
At 45 on our list of the highest currencies in the world is the Sri Lankan rupee, the official currency of Sri Lanka. The rupee is symbolized by the “Rs” sign and is divided into 100 smaller units called cents. The rupee has a long history, with its origins dating back to ancient times. Today, the rupee is a stable and widely-used currency, however at the time of publication it is 22% against the US dollar over the past five years.
43. Pakistani Rupee (301.12)
At the time of publication, the Pakistani rupee is 44th on our list of the highest currencies in the world, having fallen in value against the US dollar by a whopping 50% over the past five years. The official currency of Pakistan, a country located in South Asia, the rupee is symbolized by the “Rs” sign and is divided into 100 smaller units called paise.
42. Japanese Yen (14.74)
Over the past five years, the value of the Japanese yen has decreased by 14% against the US dollar. The yen is the official currency of Japan and is used by over 125 million people worldwide. It is one of the most traded currencies in the world, with a high demand in the foreign exchange market due to Japan’s historically strong and stable economy.
41. Icelandic Krona (133.82)
The Icelandic króna is 41st on our list of highest currencies in the world. At the time of publication, it has fallen 27% against the US dollar over the past five years. Traditionally, it is relatively stable, but can be impacted by the country’s economic and political conditions, as well as global market conditions and the performance of other currencies. The currency is represented by the symbol “kr” and is commonly abbreviated as ISK.
40. Nepalese Rupee (132.83)
Compared to most the currencies listed above, the Nepalese Rupee has been relatively strong against the US dollar over the past five years, having fallen by only 9% as of the time of publication. The Nepalese rupee is the official currency of Nepal and is used by over 29 million people. It is relatively stable, but can be impacted by the country’s economic and political conditions, as well as global market conditions and the performance of other currencies.
39. Russian Ruble (93.21)
The war in Ukraine saw the Russian Ruble plummet against the US dollar, however it then began quite a strong recovery. Still, at the time of publication, it is down around 18% over the past five years. The currency has a long history, with the first ruble coins being minted in the late 13th century. As mentioned earlier, there are reports both Russia and China may be looking to create new digital currencies which could be pegged to the value of gold.
38. Indian Rupee (82.99)
At 38th on our list of the highest currencies in the world is the Indian Rupee. The Indian rupee has had a tough time of it against the US dollar in recent times. At the time of publication it has fallen 22 per cent over the past five years. Globally, however, the rupee is considered a major currency and is used by more than 1.3 billion people.
37. Philippine Peso (56.70)
At 37th on our list of the highest currencies in the world is the Philippine Peso, the official currency of the Philippines. It is abbreviated as PHP and is often represented by the symbol “₱”. The peso is divided into 100 smaller units called centavos. The value of the peso relative to the United States Dollar can vary, but it is typically around 50 PHP to 1 USD. The Philippines has a strong trading relationship with the United States, and the dollar is widely accepted as a form of payment in the country.
36. Mauritian Rupee (45.15)
The Mauritian rupee is the official currency of Mauritius, a small island nation located in the Indian Ocean. It is abbreviated as MUR and is divided into 100 cents. The rupee is issued and controlled by the Bank of Mauritius, the country’s central bank. It is pegged to the Indian rupee, which means that its value is tied to the value of the Indian rupee.
35. Thai Baht (35.55)
The Thai baht is the official currency of Thailand. It is abbreviated as THB and is divided into 100 satang. The baht is issued and controlled by the Bank of Thailand, the country’s central bank. It is also accepted as a form of payment in neighboring countries such as Cambodia, Laos, and Myanmar. The baht is an important currency in Southeast Asia, and its value is influenced by a number of economic and political factors. It is known for its stability and is generally considered a safe investment. At the time of publication, the baht’s value against the US dollar has only fallen 4% over the past five years.
34. Taiwan New Dollar (32.02)
At 34th on our list of the highest currencies in the world is the Taiwan New Dollar, which is the official currency of Taiwan, a small island nation located in East Asia. It is abbreviated as TWD and is divided into 100 cents. The Taiwan New Dollar is issued and controlled by the Central Bank of the Republic of China (Taiwan), the country’s central bank. The value of the Taiwan New Dollar against the US Dollar fluctuates over time, but it has generally remained stable in recent years.
33. Turkish Lira (26.87)
It’s been a tough five years for the Turkish Lira, falling 80% against the US dollar over the five years to the time of publication. One of the main reasons is high inflation, which has eroded the value of the lira and made it less competitive in global markets. Inflation in Turkey has been fuelled by a number of factors, including high levels of government borrowing, a large current account deficit, and a weak banking sector. In addition, the lira has been impacted by political uncertainty, including tensions with other countries and concerns about the independence of the central bank. Other factors contributing to the lira’s struggles include a reliance on exports and a lack of diversification in the economy.
32. Czech Koruna (22.84)
The Czech Koruna comes in at number 32 on our list of the world’s highest currencies. The Czech krona is the official currency of the Czech Republic, a country located in Central Europe. It is abbreviated as CZK and is divided into 100 haléřů. The krona is issued and controlled by the Czech National Bank, the country’s central bank. It is also accepted as a form of payment in some neighboring countries. The value of the krona fluctuates over time, but it has generally remained stable in recent years.
31. South African Rand (18.90)
At 31st on our list of the highest currencies in the world is the South African Rand, which is the official currency of South Africa. It is abbreviated as ZAR and is divided into 100 cents. The rand is issued and controlled by the South African Reserve Bank, the country’s central bank. The value of the rand against the US Dollar fluctuates over time, but it has generally remained stable in recent years.
30. Mexican Peso (17.30)
The Mexican peso, the official currency of Mexico, has been relatively stable against the US dollar over the past five years. The peso is issued and controlled by the Bank of Mexico, the country’s central bank. It is also accepted as a form of payment in some neighboring countries.
29. Botswana Pula (13.64)
The Botwana Pula has remained relatively stable against the US dollar in recent years, with its value dropping only 10% in the past five years. The pula is the official currency of Botswana, a country located in southern Africa. It is abbreviated as BWP and is divided into 100 thebe. The pula is issued and controlled by the Bank of Botswana, the country’s central bank.
28. Swedish Krona (11.09)
At number 28 on our list of the highest currencies in the world is the Swedish Krona, which is is the official currency of Sweden, a country located in northern Europe. It is abbreviated as SEK and is divided into 100 öre. The krona is issued and controlled by the Riksbank, Sweden’s central bank. The krona is widely used throughout Sweden for purchasing goods and services, as well as for various financial transactions. It is also accepted as a form of payment in some neighboring countries. The value of the krona fluctuates over time, but it has generally remained stable in recent years. The Swedish economy is strong and diversified, which helps to support the value of the krona. The krona is also considered a safe and stable currency, making it an attractive investment for many people.
27. Norwegian Krone (10.66)
The 27th highest currency in the world is the Norweigan krone. The krone has been strong against the US dollar in recent times. Issued and controlled by the Norges Bank, Norway’s central bank, it is widely used throughout Norway for purchasing goods and services, as well as for various financial transactions. It is also accepted as a form of payment in some neighboring countries.
26. Hong Kong Dollar (7.83)
The 26th highest currency in the world is the Hong Kong dollar, which is the official currency of Hong Kong, a special administrative region of China located in East Asia. It is abbreviated as HKD and is divided into 100 cents. The Hong Kong dollar is issued and controlled by the Hong Kong Monetary Authority, the territory’s central bank. The Hong Kong dollar is widely used throughout Hong Kong for purchasing goods and services, as well as for various financial transactions. It is also accepted as a form of payment in some neighboring countries. The value of the Hong Kong dollar is closely tied to the value of the US dollar, as it is pegged to the US dollar at a fixed exchange rate. This means that the value of the Hong Kong dollar fluctuates in line with the value of the US dollar.
25. Chinese Yuan Renminbi (7.28)
The 25th currency on our list of highest currencies in the world is the Chinese Yuan Renminbi, the official currency of China. It is abbreviated as CNY and is often represented by the symbol “¥”. China and the United States have had a strained relationship in recent times, with speculation even mounting that China and Russia could create their own digital currency to compete with the dominance of the U.S. dollar. China and the U.S. had previously enjoyed a strong trading relationship.
24. Danish Krone (6.94)
The Danish economy is strong and diversified, which helps to support the value of the krone. The krone is also considered a safe and stable currency, making it an attractive investment for many people. At the time of publication, the krone’s value is down 10% against the US dollar over the past five years.
23. Trinidadian Dollar (6.77)
The Trinidad and Tobago dollar is the official currency of Trinidad and Tobago, a country located in the Caribbean. It is abbreviated as TTD and is divided into 100 cents. The Trinidad and Tobago dollar is issued and controlled by the Central Bank of Trinidad and Tobago, the country’s central bank. The Trinidadian Dollar is 23rd on our list of the highest currencies in the world.
22. Brazilian Real (4.93)
The 21st highest currency in the world is the Brazilian Real, which is actually down 58% against the US dollar over the past five years at the time of publication. The real is issued and controlled by the Central Bank of Brazil, the country’s central bank.
21. Libyan Dinar (4.85)
The Libyan Dinar is the official currency of Libya. It is abbreviated as LYD and is often represented by the symbol “ل.د”. The LYD is divided into 1000 smaller units called dirhams. The value of the LYD can vary against other currencies, but it is a widely traded and stable currency. The Central Bank of Libya is responsible for managing the LYD and setting monetary policy. The dinar is not pegged to any other currency and its value is determined by market forces.
20. Malaysian Ringgit (4.67)
The 20th most valuable currency in the world is the Malaysian Ringgit, which is the official currency of Malaysia. It is abbreviated as MYR and is often represented by the symbol “RM”. The MYR is divided into 100 smaller units called sen. The value of the MYR can vary against other currencies, but it is a widely traded and stable currency. The Bank Negara Malaysia is responsible for managing the MYR and setting monetary policy. The ringgit is not pegged to any other currency and its value is determined by market forces.
19. Romanian New Leu (4.62)
The Romanian Leu (RON) is the official currency of Romania. It is abbreviated as RON and is often represented by the symbol “lei”. The RON is divided into 100 smaller units called bani. The value of the RON relative to the United States Dollar (USD) can vary, but it is typically around 4 RON to 1 USD. The two countries do not have a strong trading relationship, and the USD is not widely accepted as a form of payment in Romania.
18. Polish Zloty (4.32)
The Polish Zloty (PLN) is the official currency of Poland. It is abbreviated as PLN and is often represented by the symbol “zł”. The PLN is divided into 100 smaller units called groszy. The value of the PLN can vary against other currencies, but it is a widely traded and stable currency. The National Bank of Poland is responsible for managing the PLN and setting monetary policy. The zloty is not pegged to any other currency and its value is determined by market forces.
17. Israeli Shekel (3.80)
The 16th highest value currency in the world is the Israeli New Shekel, the official currency of Israel. It is abbreviated as ILS and is often represented by the symbol “₪”. The ILS is divided into 100 smaller units called agorot. The value of the ILS can vary against other currencies, but it is a widely traded and stable currency. The Bank of Israel is responsible for managing the ILS and setting monetary policy.
16. Saudi Arabian Riyal (3.75)
The Saudi Arabian Riyal is the official currency of Saudi Arabia. It is abbreviated as SAR and is often represented by the symbol “ر.س”. The SAR is divided into 100 smaller units called halalas. The value of the SAR can vary against other currencies, but it is a widely traded and stable currency. The Saudi Arabian Monetary Authority is responsible for managing the SAR and setting monetary policy. The riyal is pegged to the US dollar at a rate of 1 USD to 3.75 SAR.
15. Emirati Dirham (3.67)
The United Arab Emirates Dirham is the official currency of the United Arab Emirates (UAE). It is abbreviated as AED and is often represented by the symbol “د.إ”. The AED is divided into 100 smaller units called fils. The value of the AED can vary against other currencies, but it is a widely traded and stable currency. The Central Bank of the UAE is responsible for managing the AED and setting monetary policy. The dirham is pegged to the US dollar at a rate of 1 USD to 3.67 AED.
14. Qatari Riyal (3.64)
The Qatari Riyal (QAR) is the official currency of Qatar. It is abbreviated as QAR and is often represented by the symbol “ر.ق”. The QAR is divided into 100 smaller units called dirhams. The value of the QAR can vary against other currencies, but it is a widely traded and stable currency. The Qatar Central Bank is responsible for managing the QAR and setting monetary policy.
13. Bulgarian Lev (1.82)
The Bulgarian Lev is the official currency of Bulgaria. It is abbreviated as BGN and is often represented by the symbol “лв”. Bulgaria and the United States do not have a strong trading relationship, and the USD is not widely accepted as a form of payment in Bulgaria.
12. New Zealand Dollar (1.70)
Coming in at number 12 on our list of the world’s highest currencies is the New Zealand Dollar (NZD), which is the official currency of New Zealand. It is abbreviated as NZD and is often represented by the symbol “$”. The NZD is divided into 100 smaller units called cents. The value of the NZD can vary against other currencies, but it is a widely traded and stable currency. The Reserve Bank of New Zealand is responsible for managing the NZD and setting monetary policy.
11. Australian Dollar (1.56)
The Australian Dollar (AUD) is the official currency of Australia. It is abbreviated as AUD and is often represented by the symbol “A$”. The value of the AUD relative to the United States Dollar (USD) can vary, but at the moment it is typically around 1.47 AUD to 1 USD. The two countries have a strong trading relationship and the USD is widely accepted as a form of payment in Australia.
10. Singapore Dollar (1.36)
The Singapore dollar is the national currency of Singapore. it is abbreviated as “SGD” and is pegged to the U.S. dollar at a rate of 1 SGD to 0.75 USD. This means that the value of the Singapore dollar is fixed relative to the U.S dollar and will always be worth approximately 75 cents. The Singapore dollar is widely used in the region and is accepted as legal tender in Brunei, where it is interchangeable with the Bruneian dollar. The Singapore dollar is considered to be a stable and reliable currency and is often used as regional benchmark against which other currencies are valued.
9. Bruneian Dollar (1.36)
The 9th highest currency in the world is the Bruneian dollar, the national currency of Brunei. It is abbreviated as “BND” and is pegged to the Singapore dollar at a rate of 1 BND to 1.3 SGD. This means that the value of the Bruneian dollar is fixed relative to the Singapore dollar and will always be worth approximately the same amount. As the Bruneian dollar is pegged to the Singapore dollar, its value is also indirectly tied to the U.S dollar.
8. Canadian Dollar (1.36)
The Canadian dollar is the national currency of Canada. It is abbreviated as “CAD” and is closely tied to the value of the U.S. dollar, as Canada is a major trading partner of the United States. The value of the Canadian dollar relative to the U.S. dollar can vary over time, depending on a number of factors such as economic conditions and interest rates. At the time of writing, the Canadian dollar is worth slightly less than the US dollar, with one US dollar buying about 1.37 Canadian dollars.
7. United States Dollar (1.00)
It doesn’t take a rocket scientist to work out that one United States Dollar buys one United States Dollar. Therefore, the USD sits at number seven on our list of largest currencies in the world. The U.S. dollar is the national currency of the United States and is widely used around the world. It’s the world’s primary reserve currency, meaning that it is held in significant quantities by governments and institutions as part of their foreign exchange reserves. The dollar is also the most traded currency in the world, with a large share of global transactions involving the U.S. currency. The value of the dollar is influenced by a range of factors, including interest rates, inflation and the state of the U.S. economy. The dollar is considered to be a stable and reliable currency and (as this post attests) is often used as a benchmark against which other currencies are valued.
6. Euro (0.93)
The sixth most valuable currency in the world is the Euro, which is the official currency of the European Union and its member countries. It is typically abbreviated as “EUR” and is the second-most traded currency in the world after the U.S. dollar. The value of the euro relative to the dollar can vary over time, depending on a number of factors such as economic conditions and interest rates.
5. Swiss Franc (0.89)
The fifth largest currency in the world is the Swiss franc, the national currency of Switzerland. It is typically abbreviated as “CHF” and is pegged to the U.S. dollar at a rate of 1 CHF to 0.89 USD. This means that the value of the franc is fixed relative to the U.S. dollar and will always be worth approximately 89 cents. The Swiss franc is a safe-have currency, meaning that it is often sought after by investors during times of economic uncertainty. In addition, the Swiss National Bank plays a significant role in the foreign exchange market, and has been known to intervene in order to maintain the value of the franc. The franc is used not only in Switzerland, but also in the neighbouring countries of Liechtenstein, Italy and Germany.
4. British Pound (0.80)
The British pound and the U.S. dollar are two of the most widely traded currencies in the world and their values are frequently compared to each other. The value of the pound relative to the dollar can vary over time, depending on a number of factors.At the time of writing, the pound is worth more than the dollar and can be converted into more dollars at the current exchange rate. It comes in our list of highest currencies in the world at number four.
3. Omani Rial (0.39)
The Omani rial is third on our list of highest currencies in the world. The national currency of Oman, it is typically abbreviated as “OMR” and is pegged to the U.S. dollar at a rate of 1 OMR to 2.60 USD. This means that the value of the rial is fixed relative to the U.S. dollar and will always be worth approximately two-third of a U.S. dollar.
2. Bahraini Dinar (0.38)
The second highest currency in the world is the Bahraini dinar, the national currency of Bahrain. It is typically abbreviated as “BHD” and is pegged to the U.S. dollar at a rate of 1 BHD to 2.65 USD. This means that the value of the dinar is fixed relative to the U.S. dollar and will always be worth approximately two-thirds of a U.S. As such, the value of the dinar compared to the U.S. dollar will remain stable over time.
1. Kuwaiti Dinar (0.31)
The Kuwaiti dinar is the highest valued currency in the world due to Kuwait’s strong economy and significant oil reserves. Kuwait is a small country with a population of just over four million people, but it has a GDP of more than $160 billion and is one of the world’s largest exporters of oil. This has allowed the country to maintain a strong economy and a high value for its currency. The dinar is also a highly sought-after currency among collectors because of its rarity and unique design. Additionally, the Kuwaiti government has implemented strict currency controls to maintain the dinar’s value and prevent inflation. These factors all contribute to the dinar being the highest currency in the world.
It is important to remember that the value of a currency can change over time, and the above information may not be accurate at the time of reading. Additionally, the concept of the “highest currency” is subjective and can be interpreted differently by different people.
