Money is perhaps the most powerful medium that speaks even through its inanimate essence. The determiner of economic growth and also the definer of a strong currency is the exchange rate which it commands in respect to currencies of other countries of the world. The greater the exchange rate, the more powerful and expensive the currency. Here are the 18 most expensive currency in Indian rupees that command the highest exchange rates right now-
While it may indeed come as a surprise that the US dollars is not the most expensive currency when it comes to conversion in Indian rupees, it however should be no surprise that the distinction goes to the legal tender of what is the world’s richest country. The country of Kuwait has the strongest currency among all currencies of the world. With a conversion rate of a whopping 242 Indian rupees for a single dinar, the Kuwaiti Dinar far outranks all to be the most expensive currency ever.
At 198.15 Indian rupees per dinar as the prevailing rate of conversion, this time it is the dinar that operates as legal tender in the country of Bahrain that is among the most expensive currencies of the world. Interestingly however, the island nation made the switch to dinar as its official currency only in the late 1950s. Prior to the dinar it had been the Indian rupee that was the prevailing money of Bahrain. Needless to say things would have been diametrically different if the past state of monetary affairs would have continued to rule businesses in and of the Persian Gulf state.
At a few units behind the Bahrain dinar is the Omani Rial that makes its presence as being the third most expensive currency in Indian rupees. Similar to Bahrain however, even Oman had the Indian rupee as its prevailing currency during one point of time in its economic history. But Oman had also made use of other moneys like the Maria Teresa Thaler, the Gulf rupee and the Saudi Rial as its official currency before the Rial was introduced in 1973. At present each Omani Rial commands some 194.10 Indian rupees to be a currency with really high exchange rate.
In circulation since 1950 in the Arabian country of Jordan, the Jordanian dinar boasts of an exchange rate of a hundred and five Indian rupees. Also used extensively in Palestine and alongside the Israeli shekel in the landlocked territory of West Bank, the strength of the Jordanian dinar however does not impact much in Jordan still being one of the cheapest ever countries to visit from India on your next vacation.
Great Britain Pound
The oldest currency in the world- one that has been use continuously for some 1200 years- is the Great Britain pound that still retains its strength as an expensive currency. This one unit of the most expensive currency would fetch you some 93 Indian rupees which is way more than what you would extract out of a dollar. The British pound or pound sterling is also used for monetary purposes in some territories occupied by Britain outside its geographical markings.
A British overseas territory located at the southern tip of the Iberian peninsula, Gibraltar has its transactions run through the medium of the Gibraltar pound which also is quite an expensive currency with its rate of exchange in terms of Indian rupees. In use as the medium of exchange since 1927, one Gibraltar pound would exchange for 93 Indian rupees at the prevailing rate of conversion.
Yet another British Overseas Territory that boasts of possessing also one of the most expensive of currencies is the Cayman Islands where the Caymani Islands Dollar is the legal tender. In fact at close to 89.68 Indian rupees offered per Caymanian dollar, it offers stiff competition to the Gibraltar pound after having persisted in circulation as the sole official currency of the autonomous territory since 1972.
The primary currency of the European Union, being the legal tender in 19 out of its 28 constituent nations, as well as the currency of some other regions outside the EU, Euro is another of the most expensive currency in terms of conversion to Indian rupees. With one of the highest combined values of banknotes and coins in circulation in the world, a single Euro commands some 83.87 Indian rupees in the exchange market.
Swiss franc is the legal tender in Switzerland and one that would get you 78.94 Indian rupees in exchange for a single unit of the currency. With its high resistance to inflation and also its global reputation as a currency ruling transactions in one of the wealthiest nations, the Swiss franc is a far more stable world currency than most others which has boded well for its growing demand as an investment asset.
One of the two official currencies in operation in the sovereign state of Cuba is the Cuban peso that has an exchange rate of 74.78 in Indian rupees per unit of it. Together with the less prominent other currency the convertible peso, Cuban peso is definitely a strong currency in the present day world.
At 74.71 Indian rupees earned in exchange of every Bahamian dollar, this archipelagic country in the West Indies comes tantalisingly close to the Cuban peso in being a more expensive currency when interpreted in terms of Indian rupees.
Almost at par with both the peso and the Bahamain dollar is the Bermudian dollar which also at an exchange rate of 74.70 something decimal is quite an expensive currency in consideration to the Indian legal tender of rupees.
The name that is most heard in the bastion of global currencies and also obviously the one that we would expect to be the most expensive currency at least in Indian rupees is the US dollar which however makes its way at only outside 10th in the list. The most traded currency in the world which has made it the world’s primary reserve currency, the US dollar exchanges for 74.68 Indian rupees and continues to be the most powerful of international currencies even with a conversion rate that is jaw droppingly low as compared to its lesser popular counterparts. Though the difference is only marginal when compared to its preceding two to three counterparts, it indeed is substantial enough to push the much touted American dollar much below among the most expensive currencies.
The eponymous currency of American country of Canada, the value of the Canadian dollar is some 55.04 Indian rupees that makes it one of the more expensive currency. Also called the loonie or the huard in representation of the bird making its appearance on the coins, the Canadian dollar is considered a benchmark currency. However besides the dollar, financial transactions in Canada are allowed to be settled through other mediums of transaction as well, provided they are mutually agreed on by the contending parties.
The currency of the Sultanate of Brunei since 1967, a single Bruneian dollar converts to some 53.58 Indian rupees approx to emerge as the more expensive currency in regard to exchange rates.
The official currency of the country of Singapore, the Singaporean dollar exchanges for well over 53.56 rupees in Indian currency thereby emerging as a relatively strong currency. Interestingly both the Singapore dollar and the Brunenian dollar with almost similar exchange rates when interpreted in terms of Indian currency is also accepted customarily in each of the two countries.
The Libyan Dinar is the official currency of the African nation of Libya and commands 53.38 Indian rupees with its every unit. In operation since 1971, the Libyan dinar is another expensive currency in terms of its superiority to Indian rupees.
At 51.84 Indian rupees per dollar, the Australian legal tender of dollar is another expensive currency that has been in operation in the continental country since 1966. The Australian dollar also happens to be one of the more stable of popular currencies preferred worldwide.