Highest valued currency unit
- Highest valued currency unit
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. It is in fact pegged to a basket of hard currencies. In contrast, the Japanese yen is considered a hard currency even though the nominal rate of the dinar is more than 400 times [21 August 2008, from Yahoo Finance.] that of the yen.
List of highest valued currency units
As of October 9, 2008, the 15 highest valued currencies are: [Floating exchange rate data taken from [http://www.xe.com www.xe.com] on July 2, 2008.] [Cypriot pound and Maltese lira were on the list in December 2007. They were replaced by the euro on 1 January 2008.]
Mathematical details
* Bold values are defined pegged rate by various authorities
* Exchange rate data was obtained from [http://xe.com/ xe.com]
ee also
*Least valued currency unit
*Denomination (currency)
*List of countries by foreign exchange reserves
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