Arab countries lead… Here is a list of the 10 strongest currencies in the world
Understanding these dynamics is essential for investors who trade in the foreign exchange market and analyze international financial trends.
The “Bankrate” website monitored a list of the strongest currencies in the world.
1- Kuwaiti dinar
The Kuwaiti dinar is currently the strongest currency in the world, with traders receiving 0.31 Kuwaiti dinar to one US dollar.
It is worth noting that Kuwait possesses about 7% of the world’s oil reserves, which greatly supports the value of its currency.
2- Bahraini dinar
The Bahraini dinar ranks second as the strongest currency in the world, with traders receiving 0.38 Bahraini dinar to the US dollar.
Bahrain is an oil-rich country, which contributes greatly to the strength of its currency, and the attractive investment environment enhances the stability of the Bahraini dinar.
3- Omani Riyal
The Omani Riyal is considered the third strongest currency, with traders getting 0.39 Omani Riyal to the US Dollar.
Oman has been producing more than a million barrels per day of oil since the 1960s, boosting the value of its currency.
4- Jordanian dinar
The Jordanian dinar is one of the strong currencies, as it ranks fourth, with traders receiving 0.71 Jordanian dinars against the US dollar.
Although Jordan does not have huge oil reserves, its diverse sources such as minerals contribute to the strength of its currency.
5- The British pound
The British pound is the fifth strongest currency in the world, with traders getting £0.82 to the US dollar.
Sterling’s long history and economic stability, as well as London’s stability as a global financial centre, are factors that contribute to its strength.
6- Gibraltar pound
The Gibraltar Pound is equal in value to the British Pound, with traders receiving 0.82 Gibraltar Pound to the US Dollar.
This currency is strongly linked to the British Pound, along with Gibraltar’s thriving tourism and financial sector, which enhances its value.
7- Cayman Islands dollar
The Cayman Islands dollar ranks seventh, with traders receiving 0.83 Cayman dollars per US dollar.
The Cayman Islands’ distinct tax system, which lacks direct taxes, contributes to a strong currency, as well as significant economic activity.
8- The Swiss franc
The Swiss franc is the eighth strongest currency in the world, with traders receiving 0.92 Swiss francs to the US dollar.
The Swiss franc is known for being a safe haven for investors in times of international crises, as well as the stability of Swiss monetary policy.
9- Euro
The euro is the ninth strongest currency in the world, with traders receiving 0.98 euros to the US dollar.
The euro is used in 20 European Union countries, which enhances its strength, along with the presence of economically strong countries such as Germany and Spain.
10- The US dollar
Despite its global dominance, the US dollar is ranked tenth among the strongest currencies.
Since the end of World War II, the dollar has become the world’s premier reserve currency, allowing the United States to borrow at low interest rates.
While the Kuwaiti dinar is the strongest currency, the Swiss franc is considered one of the most stable currencies thanks to Switzerland’s political neutrality, low debt-to-GDP ratio, and conservative monetary policy. (Arabic)
