World’s Most Valuable Currency
Kuwaiti Dinar is the most expensive fiat currency and it worths 3.30 US Dollars in current exchange rate
It is not fixed rate currency, rather central bank maintains rate linked to basket of currencies which has highest weight to USD.
It’s highest value because it has 1000 subunits (1 KWD = 1000 fils) and not 100 subunits like other currencies.
Kuwait is world's one of the biggest petrol producers. 60% of its economy is dependent on petroleum exports.
But so is Qatar, Bahrain and Saudi’s, right? However, Kuwait sells it to entire world with one condition.
What do you think that condition is? You guessed it right!
They say, ‘You can only buy my petrol with my own currency, we don't accept euro or dollars.’
What is it that the potential buyers are doing in these circumstances? Obviously they buy billions of Kuwaiti Dinar,
therefore Kuwaiti Dinar stays in the country and they profit from their sales through foreign currency and with this method they also own a huge foreign currency reserves, win-win.
For Detailed Analysis Visit the Blog by Clicking Below