Highest Currency in the World in 2024

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It is a common knowledge that value of currencies around the world change on a regular basis. Some currencies are considered stronger than many others. There are countries where the Highest Currency is not more than 20 while there are many others where the currency’s lowest value starts from 10000 and beyond.  

One must know the values of the highest currencies in the world as this proves very helpful in multiple scenarios. When it comes to travel and tourism to any other country, it sounds simpler and easier to convert the local currency to the one that has the highest global value and then convert it to the local currency of the country where you are travelling. This assures profitable exchange rate compared to when you do so with your own country’s currency. Most of the travellers visiting Thailand, Singapore, Malaysia and similar countries from India follow this rule where they convert INR to Dollar and then get it exchanged with local currency of that particular country.  

Many people believe that Dollar and Pound are the strongest currencies in the world and have great influence over the other currencies. This is not true though as there are several currencies whose conversion rates are way higher than Dollar and Pound. 

List of Highest Currencies in the World in 2024

The below list will give you an idea about the top highest currency value in the world and which exchange rate will be the most profitable.

Sr.No.	Highest Currency in the World	Value of	In INR (in May 2024)
1	The United States Dollar	1 USD	84 INR
2	Swiss Franc	1 CHF	93.04 INR
3	Cayman Island Dollar	1 KYD	101.40 INR
4	Euro	1 EUR	89.90 INR
5	Gibraltar Pound	1 GIP	104.74 INR
6	British Pound	1 GBP	104.74 INR
7	Jordanian Dinar	1 JOD	117.77 INR
8	Omani Rial	1 OMR	216.93 INR
9	Bahraini Dinar	1 BHD	222.07 INR
10	Kuwaiti Dinar	1 KWD	271.60 INR

10. The United States Dollar

Despite being in high demand when it comes to conversion, US Dollar stands far behind in the list of strongest currencies in the world. Right now, value of 1 Dollar is equal to 84 INR and the rate keeps oscillating regularly. The US Dollar is one of the most popular form of currency across the globe but ranks at the 10^th position when it comes to the highest currency in the world. Dollar is a common standard currency among international businesses especially those who don’t belong to the gulf countries.

9. Swiss Franc

Swiss Franc or CHF is the national currency of Switzerland and Liechtenstein. Being one of the strongest currencies in the world, Swiss Franc is commonly used in the bank deposits where the money is transferred to offshore accounts. This is the only currency in the world that is unaffected by inflation.

8. Cayman Island Dollar

Cayman Island Dollar is indicated by KYD symbol and is included in the highest currency in the world list. The value of one KYD is equal to 101.40 INR. A lot of people may not be aware but the Cayman Island Dollar is one of the strongest Caribbean currency. Cayman Island Dollar is also one of the newest currencies in the world and is in circulation from 1972.

7. Euro

Another new currency in the world, Euro is the primary currency of European Union. Since a number of countries are a part of this union, it works in a majority of countries of Europe. The value of 1 Euro is equal to 89.90 INR.

6. Gibraltar Pound

Gibraltar Pound is always mentioned on the same level with British pounds. Being in circulation since 1934, it is one of the strongest currencies in the world with trade value similar to USD. The value of 1 GIP is equal to 104.74 INR.

5. British Pound

Just like Gibraltar Pound, The British Pound holds a strong value among most of the currencies in the world. The GBP may not be termed as the highest currency in the world but is one of the oldest currencies. Pound is regularly used in International trade operations. Apart from United Kingdom, British Pound is also the local currency of Ireland. Its value is equal to Gibraltar Pound but is more commonly used in trade and international business.

4. Jordanian Dinar

Commonly mentioned as JOD, Jordanian Dinar has been ranked as the 4th strongest currencies in the world. 1 JOD is equal to 117.77 INR and very common among the traders who are working in the oil industry. Compared to many other currencies, JOD came in circulation in 1949 and soon outperformed many other strong currencies.

3. Omani Rial

Another strong currency from the Middle East, the Omani Rial is the third. 1 OMR value is equal to 216.93 INR which makes the exchange rate very profitable among the expats living and working there. Before 1940, Oman used to have INR as its local currency which was soon replaced by a better stronger currency.

2. Bahraini Dinar

Bahraini Dinar or BHD is the local currency of Bahrain. Being the second strongest currency in the world, it offers a lot of advantages to the Indians living here as expats. The value of 1 BHD is equal to 222.07 INR. Just like Oman, INR used to be the official currency of this country which was replaced with local banknote in 1959.

1. Kuwaiti Dinar, Highest Currency in the World

Kuwaiti Dinar holds the reputation of being the strongest currency in the world. Abbreviated to KWD, Kuwaiti Dinar is commonly used in oil based transactions in Middle East. KWD has the highest currency in the world against Indian rupee as 1 Kuwaiti Dinar is equal to 271.60 INR. No wonder KWD has been so strong and been labelled as ‘the world’s strongest currency’.

Find the best exchange rates with Thomas Cook

We, at Thomas Cook offer easy currency exchange solutions. Irrespective of the country you are visiting, we will help you find the best currency exchange rates. You can also keep an eye on the current value of the exchange rate through our state of the art portal where currency rates are updated in real time.

Also Read : 1 USD to INR from 1947 to 2024

Frequently Asked Questions about highest currency in the world:

1. Is the US Dollar the strongest currency in the world?

Yes, the US Dollar has proven to be the strongest currency in the world because the relative strength of the US economy supports the value of the dollar.

2. Which is the most stable currency in the world?

Switzerland is the richest country in the world and has the most stable currency – the Swiss Franc. CHF is derived from its Latin name “Confoederatio Helvetica” and the F in CHF stands for Franc. 1 CHF is equivalent to 1.03 USD and 0.93 Euros. Swiss Franc is a considered to be a safe haven currency since it functions as a backup for investors during geopolitical tension or instability.

3. Where can I exchange foreign currency?

Also known as Forex, there are several portals and centres for foreign currency exchange. Most banks also have foreign currency exchange services. Thomas Cook offers easy currency exchange services, no matter the country you are traveling to or the currency you desire to exchange. Visit https://www.thomascook.in/ to know more.

4. How often does the exchange rate fluctuate?

Exchange rates float freely against one another, so they are never steady. The rates are determined depending on the flow of the currency in and out of the country. The higher the demand for a particular currency, the more its value will increase.

5. What are the top 10 highest currencies?

The Kuwaiti Dinar (KWD) is the highest currency in the world. 1 KWD is equal to 274.51 INR. The second-highest currency in the world is the Bahraini Dinar (Code: BHD), where 1 BHD equals 224.60 INR. The third-largest currency in the world is the Omani Rial (Code: OMR), where 1 OMR is valued equal to 219.36 INR. The world’s fourth-highest currency rate in Indian Rupees is taken by the Jordanian Dinar (Code: JOD) and the fifth-highest currency rate in Indian Rupees is claimed by the British Pound (Code: GBP). As of now, 1 JOD is equal to 119.12 INR and 1 GBP is equal to 106.89 INR. The sixth-highest currency in the world is the Gibraltar Pound (Code: GIP), equalling 1 GIP to 106.87 INR. The world’s seventh-highest currency rate in Indian Rupees is the Cayman Islands Dollar (1 KYD = 102.27 INR). The eighth-highest currency in the world is the Swiss Franc (1 CHF = 94.96 INR) and the ninth is the Euro (1 EUR = 88.93 INR). Lastly, the tenth-largest currency in the world is the US Dollar (1 USD = 84.45 INR). [Rates as of 14th Nov, 2024]

6. What factors contribute to a country achieving the highest currency value in the world?

The value at which one country’s currency is converted to another one is called the exchange rate. Not all currencies have the same value internationally and various factors influence it. One of the main factors by which a country attains a spot on the largest currency in the world list is its economic growth. A country with good domestic economic growth will have a better GDP and a higher purchasing power parity (PPP) and attract more investments, which in turn will increase demand for local currency. This is why the currency value of countries like the USA, the UK, the EU nations, etc., is significantly higher than countries with low or negative domestic economic growth. Other factors by which a nation attains a spot on the highest currency in the world are countries with low inflation rates, abundance of natural resources (like mineral and fossil fuels), good political and economic stability, low government debt, etc., have higher currency value.

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