Highest valued currency unit
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The highest valued currency unit is the currency in which a single unit buys the highest number of any given other currency or the largest amount of a given good. Most commonly the calculation is made against a major reserve currency such as the euro (EUR), the pound sterling (GBP) or the United States dollar (USD).
A high-valued currency is distinct from a hard currency, which is a currency with a good buying power and which is widely accepted as a reliable store of value. For example, a Kuwaiti dinar is not of very much use outside Kuwait, and is bound to the economy of that country. In contrast, the U.S. dollar is a hard currency, because it is backed by the US Federal Reserve's implicit promise not to inflate it, which is widely considered credible on account of the Federal Reserve's past history and the strength of the US economy.
[edit] List of highest valued currency units
As of May 24, 2008, the 15 highest valued currencies are:[1][2]
| No. | State | Currency | Code | United States dollars USD−1 |
Euros EUR−1 |
Kuwaiti dinars KWD−1 |
Highest valued coin |
Highest valued banknote |
|---|---|---|---|---|---|---|---|---|
| 1. |  Kuwait |
dinar | KWD | 3.7707 0.2652 |
2.3890 0.4186 |
1 | .100 | 20 |
| 2. |  Bahrain |
dinar | BHD | 2.6596 0.3760 [3] |
1.6850 0.5935 |
0.7053 1.4178 |
.500 | 20 |
| 3. |  Oman |
rial | OMR | 2.6008 [3] 0.3845 |
1.6478 0.6069 |
0.6897 1.4498 |
.500 | 50 |
| 4. |  Latvia |
lats [4] | LVL | 2.2457 0.4453 |
1.4229 0.7028 [3] |
0.5956 1.6790 |
2 | 500 |
| 5. |  United Kingdom |
pound [5] | GBP | 1.9882 0.5029 |
1.2557 0.7963 |
0.5256 1.9026 |
5 (commem.) 2 (common) |
50 (Eng & Wal) 100 (Sco & NI) |
 Falkland Islands |
pound [3] | FKP | 2 | 50 | ||||
 Gibraltar |
pound [3] | GIP | 2 | 50 | ||||
 Saint Helena |
pound [3] | SHP | 2 | 20 | ||||
| IMF | Special Drawing Rights |
XDR | 1.6440 0.6097 |
1.0390 0.9624 |
0.4349 2.2992 |
|||
| 6. |  European Union (Eurozone) |
euro | EUR | 1.5783 0.6334 |
1 | 0.4186 2.3890 |
2 | 500 |
| 7. |  Jordan |
dinar | JOD | 1.4104 0.7090 [3] |
0.8942 1.1183 |
0.3743 2.6716 |
1 | 50 |
| 8. |  Cayman Islands |
dollar | KYD | 1.2000 [3] 0.8333 |
0.7731 1.2935 |
0.3236 3.0901 |
.25 | 100 |
| 9. |  Azerbaijan |
manat | AZN | 1.2384 0.8075 |
0.7846 1.2745 |
0.3284 3.0449 |
.50 | 100 |
| 10. |  Cuba |
convertible peso | CUC | 1.0800 [3] 0.9259 |
0.6643 1.5054 |
0.2781 3.5963 |
5 (rare) 1 (common) |
100 |
| 11. |  Canada |
dollar | CAD | 1.0118 0.9883 |
0.6411 1.5599 |
0.2683 3.7266 |
2 | 100 |
| 12. |  United States |
dollar | USD | 1 | 0.6334 1.5783 |
0.2652 3.7707 |
1 (rare) .25 (common) |
100 |
 Bahamas |
dollar | BSD | 1 [3] | 1 (rare) .25 (common) |
100 | |||
 Bermuda |
dollar | BMD | 1 | 100 | ||||
 Panama |
balboa | PAB | .50 | - | ||||
| 13. |  Ghana |
cedi | GHS | 0.9852 1.0150 |
0.6242 1.6020 |
0.2612 3.8289 |
1 | 50 |
| 14. |  Switzerland |
franc | CHF | 0.9763 1.0243 |
0.6191 1.6152 |
0.2588 3.8638 |
5 | 1000 |
| 15. |  Australia |
dollar | AUD | 0.9605 1.0412 |
0.6086 1.6432 |
0.2546 3.9275 |
2 | 100 |
- ^ Floating exchange rate data taken from www.xe.com on May 24, 2008.
- ^ Cypriot pound and Maltese lira were on the list in December 2007. They were replaced by the euro on 1 January 2008.
- ^ a b c d e f g h i j Currency peg.
- ^ Scheduled to join the euro.
- ^ The highest-valued currency unit of any OECD member-state.
[edit] Mathematical details
- Bold values are defined pegged rate by various authorities
- Exchange rate data was obtained from xe.com
