10 Kuwaiti Dinars

With the Middle East being such an important place in the world, it is hard to imagine that a whole country could go unnoticed here. But, that is exactly what Kuwait has managed to do since its independence from the United Kingdom in the 1960s (the exception being its intertwinement in the Gulf War).

So what makes their currency special? Taking a look at their exchange rate, or how much their currency is worth compared to other currencies, the reason becomes apparent. As of December 3, 2024, 1 Kuwaiti Dinar is worth 3.25 US dollars, making it the world's highest valued currency. In fact, historical records show that in 2006, 1 Kuwaiti Dinar was worth a staggering 3.78 US dollars.

This extraordinary value can be explained by several factors. First, Kuwait holds about 104 billion barrels of oil in reserve, equating to about 8% of the world's total oil reserves, of which they export about 2 million every day. Second, their currency is pegged to a collection of various undisclosed currencies rumored to include the US Dollar, Euro, and Japanese Yen. Third, the Central Bank of Kuwait limits the amount of dinars coined each year, curbing economic inflation. All of this contributes to great economic stability and a high GDP that both attracts foreign investors to prop up their economy but also props up their currency.