Discover the types of currency. Currency has been used to represent a country’s money either in a form of paper money or coins. Every country has its currency, which signifies country financial position on the basis of its exchange rate. First thing that comes into mind when you talk about currency is U.S dollars. But, U.S dollars are not only currency, which have significant importance. There are many other types of currency in the world which are valuable and substantial. Here are some of the valuable types of currency of the world including U.S. dollars.
The US Dollars:
The US dollars are among the most powerful types of currency. The US economy is very strong due to its currency; it is linked up with many other nations. The US dollars support many other nations in their development and progress. This American currency is known around the globe and accepted all over. Some of the countries use this currency for different purposes including tenders, trading etc. The symbol of US dollar is ‘$’. US dollars are also known as the backbone of world’s economy as it never loses its charm and whatsoever never depreciate.
It is officially a currency of countries included in European Union. Many countries adopted these types of currency in early 20’s, but after some time some of them replaced the currency with their local currency. Still, three of countries including UK, Germany and Sweden even though have their own currency they still accept this type of currency. Euro is also a strong currency and competes well with other valuable currencies but still it has to travel a lot to reach the top of the list. The symbol of Euro is ‘€’.
The pound is an official currency of United Kingdom; it is as strong as American dollars and had an upper edge in earlier times. It still dominated many other currencies of the world, but as US dollars are now become more powerful, pounds lose the charm in front of them. The symbol of the pound is ‘£’.
Kuwaiti dinar is one of the most expensive currencies of the world replacing gulf rupees in Kuwait. It is most valuable currency with the exchange rate of 3.65 U.S dollars. It makes Kuwait the fifth largest country of the world.
Bahraini Dinar is among the most valuable types of currency. It is a currency of Bahrain, with the exchange rate of 2.66 U.S dollars. This type of currency is subdivided into 1000 fills. The name was derived in Roman Empire. It is the third largest and cherished currency of the world.
Omani riyal is a currency of Oman; it is also among the most prestigious types of currency. It is further divided into 1000 baisa. Initially Oman doesn’t have any personal currency which they can own, Indian currency was used by Oman nation but later after 1970 Omani riyal was introduced giving identity to the Omani currency. Now, it is symbolized as most powerful currency with the exchange rate of 2.60 U.S dollars.