Feb 13 2020

Top 10 Most Valuable Currencies in the World #currency #conversion #chart

#money currency in the world


Top 10 Most Valuable Currencies in the World

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Whenever the word currency is spoken, a euro or dollar sign floats in front of our eyes. A currency is nothing but the money, also known as medium of exchange, which is commonly used in a particular nation for transaction between an individual and business. Earlier when medium of exchange was not their or was in unstable mode, trading among people or countries was done through a Barter system. In the barter exchange system, an individual or business was supposed to directly exchange their goods and services by other goods and services without using medium of exchange or currency. Consider a farmer and milk man in a village do the trading, where farmer give grains and pulses to milk man and in return milk man gives milk to the farmer. So trading through this barter system was done on basis of faith and mutual understanding in presence of any third party agent or broker. Things have changed since the and today we’ll be discussing the top 10 most valuable currencies in the world.

10. Swiss Franc

Swiss Franc is the currency and legal tender of Switzerland and Liechtenstein. It is also legal tender in the Intalian exclave Campione d’Italia and Germa exclave Busingen but not formally. This is the only version of franc that is still issued in Europe. The value of this money is actually greater than the U.S. dollar since 1 CHF is more or less $1.10, thus it depends on the economy of the country.

9. Cayman Islands Dollar

Cayman Islands Dollar, which has a currency code of KYD, is the currency of Cayman Islands. It is abbreviated with a $ or C/$ in order to distinguish it from other dollar-denominated currencies. There is no direct taxation and the islands thrive as an offshore financial center. This currency is actually one of the most valuable currencies since 1 KYD is more or less $1.20 U.S. dollars.

8. Hong Kong Dollar

The Hong Kong dollar is the currency used in Hong Kong. It is the eighth most traded currency of 2014. The Hong Kong dollar is subdivided into 100 cents. In formal Cantonese, the 圓 character is used. In spoken Cantonese, 蚊 is used, perhaps because the first syllable symbolizes “money”, although some suggest that the character is a corruption of 緡. 元 is also used to some degree.

7. Canadian Dollar

At No.7, the Canadian dollar has a 5.3% share in daily currency transactions in the world. Until the early 19th century, a number of different currencies, British, French, and local currencies, were used throughout Canada. In the years leading up to the Confederation, most of the country was organized as small rural settlements spread over a large area, which made branch banking the best approach to banking. Just recently in April 2014, the Canadian dollar gained to the strongest level in more than six weeks after the government created more jobs than forecast in March, rebounding from a decline the previous month, and the unemployment rate unexpectedly fell. Canada also now holds the 11th largest economy in the world.

6. The Japanese Yen

The Japanese Yen lands itself on the 6th spot among the most stable currencies in the world. About 20 per cent of the daily transactions in the forex market involve the Japanese Yen. The word yen stands for ’round object’ in Japanese. The spelling and pronunciation “yen” is standard in English. This is because mainly English speakers who visited Japan at the end of the Edo period to the early Meiji period spelled words this way. ゑん/wen/ in historical kana orthography.

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