World's Best Currency - Buge Hoobs

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World's Best Currency

By: bluedevil2k

Created:2-17-2008

With everyone from Jay-Z to Giselle blowing off the dollar recently, maybe it's time we start to look around at some other possible world currencies we could use. There are over 100 different currencies in the world, and each of them differs in how they are designed, how they look, their materials, their anti-counterfeiting measures, their history, and of course their value. But, the important question, would any of them make a suitable replacement for our US dollar?

It's no secret that the US dollar is on a deep decline in value world-wide. Anyone who's traveled to Europe lately knows how expensive everything has gotten (an $8 pint in Britain?!). With every bad comes a good though, and through traveling abroad has become difficult for Americans, it has become very cheap for foreigners, who are bringing their money to spend on US shores (or more accurately, Disney World). Additionally, US made goods are cheaper to export, increasing business for exporters. As every economist says, everything must come to an equilibrium, and economies are self-correcting, so its rational to believe that the US dollar slide will stop at some point.

Until that time comes though, let's take a look at some of the other world currencies, and what they have to offer. Every currency has a unique story all its own, and it's quite interesting to see the history involved in each, and how they have come to define their nation as a whole .

Here are the world's best currencies...

16 - China - Yuan

The Chinese monetary denomination is the "Renminbi", which translates to "people's money". The 20 Yuan bill contains a picture of Mao, and on the left side in the white area contains a watermark of a lotus flower, which symbolizes purity.

Symbol: CNY

Current exchange rate: $1 = 6.89 CNY

15 - Israel - Sheqalim

Israel converted its old currency to the "New Sheqel" (1000 old sheqalim = 1 New sheqel) in 1985 in order to simplify transactions. The old sheqal as a unit of currency dates back to 3000 BC, making this the oldest form of currency still in circulation. The word "sheqel" comes from the ancient word for "barley", and was used a medium for trade in the grain. All currency is produced outside of Israel, as the country has no mint to make its own money.

Symbol: ILS

Current Exchange Rate: $1 = 3.596 ILS

14 - Egypt - Pounds

Nearly all of Egypt's currency notes show a combination of their expansive history, including pictures of famous Pharaohs and monuments, and modern Islamic influences. Locally, 1 billion pounds is termed a "feel", which translates to an elephant.

Symbol: LE

Current exchange rate: $1 = 5.49 EGP

13 - Kenya - Shillings

Until 2003, all Kenyan notes contained pictures of only Daniel Moi, the "democratically" elected president of Kenya. However, after Moi stepped down in 2002, notes that were printed in 1978 with the image of Jomo Kenyatta and stored for 14 years were put back into circulation.

Symbol: Ksh

Current Exchange Rate: $1 = 68.96 Ksh

12 - South Korea - Won

King Sejong the Great, a 15th century Korean king is depicted on this note, the lowest in common circulation in Korea. Smaller denominations have predominately been replaced by coins. The Won is generally regarded as the world's most difficult to counterfeit, as it contains many difficult to reproduct security features.

Symbol: -

Current Exchange Rate: $1 = 946.30-

11 - Mexico - Pesos

Mexico created the "Nuevo Peso" in 1993, and set 1000 old pesos equal to the "Nuevo Peso". 3 years later, they removed all old pesos from circulation and removed the word "Nuevo" from their currency. The currency contains raised figures to help visually impaired users handle currency, though the figures are not based on Braille or any standard international blind standard, making their use for blind foreigners difficult.

Symbol: $

Current Exchange Rate: $1 = $10.759

10 - Saudi Arabia - Riyals

All Riyals are printed in Arabic on the front, and English on the back and depict the kings of Saudi Arabia's 109 year history. The riyal is fixed to the US dollar, trading at 1:3.75 since 1986. This helped stabilize the Saudi economy at the time, as it tied its own currency to that of its #1 export, oil.

Symbol: SR

Current Exchange Rate: $1 = 3.75SR

9 - South Africa - Rand

South Africa's currency face all contain animals native to South Africa – leopards, lions, buffalo, elephants, and rhinoceros. Previously, the bank notes contained prior administrators of South Africa, but this practice was abandoned with the first democratic election in 1994.

Symbol: R

Current Exchange Rate: $1 = 7.6825R