What are the Five Most Valuable Currencies in Asia
The value of currencies is an indicator of the economic strength of any nation. Asia is home to some of the most valuable currencies in the globe. The Kuwait dinar is the highest valued currency in Asia as well as the most valuable currency in the globe. Read on to get a glimpse at some of Asia’s most valuable currencies compared to the US dollar.
The Azerbaijani Manat
The Manat is the official Azerbaijan currency, and it is sub-divided into Qapik units of 100 Qapiks per one Manat. The Manat is denoted by the currency code AZN. The Manat has a value that is approximately 25% more valuable than the USD. Currently, the Manat exchanges at 1 Manat per $1.28 US dollars. The local Manat economy is very strong and the rate of unemployment is low.
The Kuwaiti dinar is denoted by the KWD currency code and it is the official currency of Kuwait. The small country of Kuwait has rich oil and gas deposits, which make its currency one of the most valuable currencies on a global scale. One dinar of Kuwait has 1000 sub-divisions of Fils. Up to date, there are six series of the Kuwaiti dinar, which has undergone printing. The last series was made official on 19th May 2014. The fixed exchange rate of the nation and plenty of oil and gas resources make this nation one of the richest nations in the world. At the moment, 1 Kuwaiti dinar exchanges for the USD at approximately $3.46.
The Jordanian dinar
The Jordanian dinar denoted as JOD, and it is the official currency of the Jordanian Kingdom. The Jordanian dinar has sub-divisions of 10 Dirham, which are further divided into 100 Qirsh, which was also further sub-divided into 1000 Fils. Jordan’s dinar is officially tied to the special drawing rights (SDR) of the IMF organization since 1995. Jordan lacks rich natural resources such as gas and oil, and its economy is also not strong. Nevertheless, its currency is highly valued and one Jordanian dinar can be exchanged for $1.41USD. This makes the JOD one of the strongest global currencies.
The Bahraini dinar was officiated as the official currency of Bahrain in 1965. One unit of the dinar has 1000 sub-divisions of Fils. The dinar is denoted by the BHD currency code. The monetary authority that issues the currency’s denominations is the Central Bank of Bahraini. The small country exports many commodities, which make its economy and currency very strong. The currency exchanges at a rate of 1 Bahraini dinar for $2.65 USD.
The Omani Rial
The Rial is the official Omani currency, and its currency code is denoted by OMR. One Omani Rial has 1000 baisa sub-divisions. The currency units are issued by the Central Bank of Oman. This central monetary body that issues banknotes in 20, 50, 10, 5, 1, and 1/2 Rial units as well as 100 Baisa. The strategic location of Oman has enabled it to create a solid economy and significant human development, which has propelled greater growth. At the moment, one Rial unit is equal to $2.6 units.