Bonus List

CURRENCIES WITH THEIR LOWEST DENOMINATION HAVING THE HIGHEST VALUE

One U.S. cent is not worth very much, especially given that almost half the currencies around the world (including some in developing countries) have their least valuable coin (or bank note) worth more than our cent. In fact, in seven countries around the world, the least valuable coin of legal tender is worth more than one U.S. nickel.

COUNTRY: AMOUNT OF CURRENCY
1. Slovakia: 50 Halierov (0.50 Koruna)
2. Norway: 50 Øre (0.50 Krone)
3. Sweden: 50 Øre (0.50 Krone)
4. New Zealand: 10 Cents (0.10 Dollar)
5. Finland: 5 Cents (0.05 Euro)*
6. Denmark: 25 Øre (0.25 Krone)
7. Switzerland: 5 Centimes (0.05 Francs)
8. Australia: 5 Cents (0.05 Dollars)
9. Tanzania: 50 Shillings
10. Bosnia & Herzegovina: 5 Feninga (0.05 Convertible Marks)

VALUE IN U.S. CENTS
10.3
9.8
8.3
8.0
7.7
5.2
5.1
4.7
4.2
3.9

*In Finland, all transactions (by law) are rounded to the nearest 5 cents, and the lowest denomination is the five-cent piece. In most other nations which use the Euro, the lowest denomination is the one-cent piece.

Interesting caveat: Zimbabwe's lowest denomination (as of March 2008) was the Z$200,000 note. At Zimbabwe's official rate of US$1=Z$30,000, this would be worth over US$6! However, the parallel rate (the rate in which money is actually converted unofficially) is around US$1=Z$70,000,000 (and growing daily), thus making the Z$200,000 note worth less than one US cent.

Exchange rates are based on March 19, 2008.

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Copyright ©2008 Brandt Maxwell.