What currency is currently considered to be the most valuable in the world?

What currency is currently considered to be the most valuable in the world?

Currently, the most valuable currency in the world is the Kuwaiti dinar.

The most valuable currency in the world is the currency of Kuwait.

1 KWD = 3.26 USD = 78,542.83 VND

Kuwait, officially the State of Kuwait, is a country located in the far north of the Arabian Peninsula, in Western Asia, bordering Iraq and Saudi Arabia. The Kuwaiti dinar is the most valuable currency in the world for many years.

The Kuwaiti dinar was issued in 1961, after the country gained independence from Britain.

In 1990, when Iraq occupied Kuwait, the KWD was replaced by the Iraqi dinar.

In 1991, Kuwait was liberated after the United Nations approved the use of force against Iraq, multinational forces intervened militarily.

After liberation, the Kuwaiti dinar was restored.

The KWD paper has a face value of 1/4 KWD and the largest is 20 KWD. In addition to paper money, coins are also widely used.

The content above is for reference only!

What currency is currently considered to be the most valuable in the world? - Source: Internet

What are regulations on the currency of Vietnam?

Pursuant to Article 16 of the Law on the State Bank of Vietnam in 2010 stipulating currency unit as follows:

Currency unit

The currency unit of the Socialist Republic of Vietnam is "dong". with its national symbol being "d" and international symbol being "VND": one "dong" is equal to ten "hao" and one "hao" is equal to ten "xu".

Therefore, the currency unit of our country is currently "Dong", the international symbol is "VND" and the national symbol is "đ".

- For paper money, there will be 12 denominations, specifically: 500,000đ; 200,000đ; 100,000đ; 50,000đ; 20,000đ; 10,000đ; 5,000đ; 2,000đ; 1,000đ; 500đ; 200đ; 100đ

- The denominations of 200,000đ, 500,000đ, 100,000đ, 50,000đ, 20,000đ and 10,000đ are printed on polymer, the remaining denominations are printed on paper.

According to the law in Vietnam, what is the monetary unit in accounting?

Pursuant to Article 3 of the Circular 200/2014/TT-BTC stipulating the monetary unit in accounting as follows:

Monetary unit in accounting

“Monetary unit in accounting” means Vietnamese dong (national sign: “đ”; international sign: “VND”) used for bookkeeping, preparation and presentation of financial statements of enterprises. If an accounting unit that mainly receives revenues and pays expenses in foreign currencies, provided that it conforms to standards prescribed in Article 4 of this Circular may choose a type of foreign currencies as a monetary unit for bookkeeping.

As regulations above, monetary unit in accounting is Vietnamese dong.

If an accounting unit that mainly receives revenues and pays expenses in foreign currencies, it may choose a type of foreign currencies as a monetary unit for bookkeeping provided that it conforms to standards as follows:

- Any enterprise that mainly receive revenues and pays expenses in foreign currencies shall base on regulations of the Law on accounting for consideration of selection of monetary unit in accounting and take legal responsibility.

- When selecting the monetary unit in accounting, the enterprise must notify supervisory tax authority.

- The monetary unit in accounting means a monetary unit meeting requirements below:

+ It is mainly used in sales, provisions of services of the enterprise, which have great impact on selling prices and service fees and it is normally used as posting prices and used for payments; and

+ It is mainly used in purchases of goods or services, which have great impact on labor costs, materials costs and other production costs or operating costs and it is normally used for payments of that costs.

- The following factors may also be considered as evidence of monetary unit in accounting of the enterprise:

+ The monetary unit used in mobilization of financial resources (such as issuance of shares or bonds);

+ The monetary unit which is regularly collected from business operation and accumulated.

- The monetary unit in accounting reflects transactions, events, condition pertaining to the operation of the enterprise.

- After choosing the certain monetary unit in accounting, the enterprise shall not change it unless there are major changes in the transactions, events or condition.

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