The Bahrain Dinar is the second most valuable currency.
Bahrain is a Persian Gulf island state with a population of over 1 million people. As in the first case, this country’s largest source of wealth is the “black gold” exports.
Bahrain exchange rate with the US Dollar exchange rate, and its rate against the US Dollar has remained stable since 2005.
1. Kuwaiti Dinar
Currency code KWD
1 KWD = 3.27 USD (Kuwaiti dinar to US dollar).
1 KWD = 2.78 EUR (Kuwaiti dinar to euro).
The highest currency in the world is Kuwaiti Dinar (against the US Dollar).
The high value (rate) of its currency is explained by the abundance of oil exports into the global market and their land
Kuwait is a small country with wealth. Due to the stability in their petroleum-based economy, developed oil production and export, Kuwait is currently considered to be one of the richest countries in the world.
More than 80% of the country’s revenue comes from the oil industry, as petroleum production here is the easiest and, therefore, the cheapest among other countries.
Since 2003 the currency was pegged to the US Dollar, but in 2007 the government decided to peg the Kuwaiti Dinar to the weighted currency basket.
One of the secret of Kuwait growing economy is that it is a tax free country.