CHECK OUT THE DETAILS OF THE STRONGEST CURRENCY IN THE WORLD

There are 180 currencies in the world which are officially recognised as the legal tender. But the wide usage and popularity of a currency necessarily do not equate to the strength or value which is commanded by a currency. So the concept of strength of currency basically revolves around the purchasing power of a nation’s currency when it is exchanged for services, other currencies and goods. 

The US Dollar is mainly taken as the most powerful currency in the world, because it is certainly one of the most traded currencies by some margin on a global level. But it is still not on the top in the list of strongest currency in the world, because there are a lot of other factors which determine a currency’s ranking and value, such as political stability, natural resources, economic growth and global demand.

 And so there are many more currencies which are put above the US Dollar and are considered to be the strongest in the world.  So if you want to know about the strongest currencies in the world, along with many more in the list, we got you covered through this article.

As you scroll down, you will find out complete details about the best and top 10 currencies in the world, which is completely based on their relative values in comparison to the US Dollar. So just keep reading below to check out all the info.

Which is the strongest currency in the world?

Below provided is the list of the strongest currencies in the world, which is based on the number of units of the foreign currency which is received in exchange of 1 US Dollar. So the details of the top 10 strongest currencies are as follows-

1. Kuwaiti Dinar (KWD)- This is one of the top and strongest currencies in the world, which is at the value of 1 Kuwaiti Dinar equals to 3.26 US Dollars or you can say US Dollar 1 equals to 0.31 Kuwaiti Dinars. Kuwait is basically located between Iraq and Saudi Arabia. It earns most of its wealth from being the leading exporter of oil around the world. This currency was introduced in the 1960s and was pegged initially by the British Pound value, before it was re-pegged to an undisclosed container of currencies.
2. Bahraini Dinar (BHD)- This is the second strongest currency in the world, which is equal to 2.65 US Dollars. Bahrain is a nation of islands which is located in the Persian Gulf, that is off the coast of Saudi Arabia. Just like Kuwait, this country earns most of its wealth from the gas and oil exports. The Bahraini Dinar mainly entered circulation in the year 1965 and is then pegged to the US Dollar.
3. Omani Rial (OMR)- This is at the third stop in the list of strongest currencies in the world. 1 Omani Rial is equal to buying 2.60 US Dollars. Oman is basically situated between Yemen and the UAE. with its other wealthy neighbours, Oman is also a major exporter of gas and oil. This currency was introduced in the year 1970 and is also pegged to the US Dollar.
4. Jordanian Dinar (JOD)- This is the fourth strongest currency in the world, which is equal to 1.41 US Dollar. Jordan is widely land locked, which is bordered by Syria, Suadia Arabia, Egypt and Iraq. This country is less dependent on the gas and oil exports, in comparison to its neighbours, and has also struggled with rising debt and sluggish growth of the economy. This currency came into circulation in the year 1950 and is also pegged to the US Dollar.
5. British Pound (GBP)- Pound is at the fifth position in the list of strongest currencies. It is equal to 1.20 US Dollars. Britain is the 6th largest country by GDP, according to the World Bank. pound was initially introduced in 1400, before it was decriminalised in the year 1971. It is a free floating currency that is not pegged to any other currency.
6. Cayman Islands Dollar (KYD)- This is the sixth strongest currency in the world, which is equal to 1.20 US Dollars. Cayman Islands is a British Territory in the Caribbean Sea. This currency was introduced in the year 1970 and is pegged to the US Dollars.
7. Gibraltar Pound (GIP)- It is the joint 6th strongest currency in the world which is equal to 1.20 US Dollars. Gibraltar is located at the Southern Tip of Spain and is an official part of the British Territory. 
8. Swiss Franc (CHF)- It is the joint 8th strongest of all the currencies, which is equal to 1.07 US Dollars. The Swiss Franc is the official legal tender of Liechtenstein and Switzerland, and is taken as a safe case because of the political stability of Switzerland.
9. Euro (EUR)- It is 9th strongest of all the currencies in the world, which is equal to 1.07 US Dollars. It is the official currency of the Eurozone, and started to circulate in 2002 and is a free floating currency.
10. US Dollar (USD)- This is the 10th strongest currency in the world, which is exactly worth 1 against itself. All the other units which are across the globe are worth less in worth than a US Dollar. It is the largest economy by GDP and is by far one of the most traded currencies around the world.

Conclusion

Exploring the currencies of the world has revealed a very fascinating landscape where economics combined with financial stability reigns strong and superior. From the Kuwaiti Dinar positioned as the highest valued currency to the fight of the Swiss Franc and the domination of the US Dollar globally, each of the currencies that is mentioned above in the list of strongest currency in the world holds a very different story of influence and strength of its own. And so the top 10 currencies are a testament to the powerhouse of economy, and showcase the interplay of the facts which shape their influence and standing in the market.