The Most Valuable Currencies in the World In October 2021

Have you always wondered what the strongest and most valuable currency in the world is? Out of 180 currencies in the world, the following are the currencies that hold the most value in October 2021.


British Pound Sterling


British Pound Sterling

 

The British Pound Sterling or GBP is the national currency of the United Kingdom. GBP can be considered as the most resilient as far as the history of money is concerned. It remains to be one of the major players in the high finance world. The currency existed during three significant events, including the First and Second World Wars and the 1930s Great Depression, before the big and mighty GBP was forced into giving up its leadership role as the world's reserve currency. However, even if it is no longer in its glory days, the British pound sterling continues to be a force to reckon with, taking on the fifth spot as the most valuable currency in the world right now. 


Jordanian Dinar


jordanian dinar


Jordanian Dinar or JOD is the official currency of Jordan, the Arabic country on the Jordan River. The government of Jordan keeps the exchange rates stable, which explains the high value of the currency. Unlike its neighbours, Jordan doesn't rely that much on oil exports. This is a good thing since its economy remains diverse across different sectors. Introduced as a replacement of the Palestinian pound in 1949, the Jordanian Dinar has been associated with the USD for 20 years. 


Oman Rial  


Oman Rial


Oman Rial or OMR is the national currency of Oman. During the establishment of the Sultanate of Oman by Qaboos bin Said al-Said in 1970, Saudi Riyal was the currency used in the country. In 1973, Oman Rial started to be issued in the country and linked it to USD. Despite being a new currency, OMR still ranks third on the list due to its economic stability. At first, it relied on a diverse economy due to the modest oil reserves. But, oil production was ramped up in 2002 to more than 900,000 barrels daily. 


Bahraini Dinar 


Bahraini Dinar

The Bahraini Dinar grabs the second spot as the world's second most valuable currency as of May 2021. The island nation of Bahrain is located in the Persian Gulf with a population of a little bit over 1 million residents. Petroleum export and global gas are its primary revenue sources. The Bahraini Dinar and the Saudi Riyal are the officially recognized legal currencies in Bahrain. 



Kuwaiti Dinar 


Kuwaiti Dinar


Kuwaiti Dinar, or KWD, is the national currency of Kuwait. It is now named as the world's most valuable currency. It was first issued in 1961 after the country's independence forced Britain into withdrawing its political control over the Middle East. Kuwait linked its national currency in 1975 to the monetary system known as "a weighted currency basket." The Iraqi Dinar replaced this after the Iraqi invasion in 1990. However, following the 1991 liberation, the government of the country put the currency back in circulation and restored its exchange rate value. The Dinar was associated with the USD in 2003 and went back in 2007 to the weighted currency basket, and it still remains a solid and valuable currency in 2021.

Segun Alabi

Segun Alabi is a news reporter at HotNaija. He covers a wide range of topics including news and celebrity showbiz

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