Today we are talking about money and its value around the world. We will be focusing on the top 10 strongest currencies in the world.
Money is a medium of exchange in our world today.
Each countries of the world has their unique currency and this made it easy for each of them to trade across the globe without problems.
The difference is that a country’s currency is influenced by the number of business engagements he is involved with. That is, the things that generates fund for them and its ability to retain the worth.
A currency is termed strong if it’s volatility in the Forex market is reduced.
One might think that the American Dollars is the strongest in the whole world but no it’s not.
Yes, America is influential and has a say in practically everything. But there are other currencies that is stronger than theirs.
Which country do you think has the strongest currency in the whole world, let’s find…go nowhere
This list is compiled from the least but not really the least.
I know this might shock you to know that actually, this is the tenth on our list but believe me, it is the major currency that has people’s recognitions and used mostly in transactions. It is the
10: UNITED STATES DOLLARS USD
It is the basic unit of money to the Americans. You will agree with me that America is one of the power blocs and has influence in every international matter and so does the currency.
Forex traders compares it to European euro because of its strong value.
It has dominated the International market. Imagine, one US dollar equals 386 Nigerian Naira.
9: SWISS FRANCE CHF
It’s the ninth strongest currency in the whole world but with a little value from the American dollars.
One Swiss franc is equal to 1.04 US dollars.
This was possible because the Swiss government got involved in Secret Banking System.
This made the country to be one of the best in economy and it strengths their currency.
Swiss Franc is the basic monetary unit in Switzerland.
8: EUROPE EUR
It is the eight strongest currency in the whole world
It’s strength comes as a result of the fact that it is wildly used in most European countries like Italy, Germany, Belgium, Spain, Cyprus, Luxembourg, France, Slovenia, Portugal, Malta, Slovakia, Lithuania, Greece, Latvia, Estonia, Finland, Ireland, Austria, Netherland. Out of 28 countries of Europe, 19 are using the currency. It has great influence in World trade.
7: CAYMAN ISLAND DOLLARS
It is not known as the US dollars but the 7th strongest currency in the whole world. This is because their government works so hard and engages in Passenger ship, Cargo ship and Petroleum gas.
One Cayman Islands dollars is equal to 463 Nigerian Naira and 1.20 US dollars.
It’s not well known but has great influence as one of the world’s valuable currencies.
6: GIBRALTAR POUNDS
Gibraltar is a European country but not influential as other countries.
The good thing is that it has greater strength than Euro and dollars.
It is a basic monetary unit for Gibraltar.
It’s known by just few people for its great monetary value.
One Gibraltar pounds is equal to 1.21 US dollars and 487.6 Nigerian Naira.
5: BRITISH POUNDS GBP
It’s the basic monetary unit in Britain. Over 780 years, it is one of the most significant currencies in the world as regards to trade. It’s officially known as Pound Sterling.
It is used in South Georgia, United Kingdom, Jersey, Isle of Man, Tristan da Cunha, British Antarctic Territory, South Sandwich Island, and Guernsey.
One British Pound is equal to 1.27 US dollars and 487.6 Nigerian Naira.
4: JORDANIAN DINAR
It is the fourth strongest currency in the whole world. And also the basic unit of money in Jordan.
It is easily recognized as JOD, it has not monetary value than US dollars and the Euro which is the basic unit for the European countries, though it is geographically close to Europe.
One Jordanian Dinar is equal to 1.41 US dollars and 545 Nigerian Naira in the International exchange rate.
3: OMANI RIAL
It is the third strongest currency in the whole world and the legal tender in Oman.
Omani is an Arabic country and one of the most affluent one at that.
It has many oil reserves and this made it one of the richest country in the world.
Dollar, Yen and Euro cannot be compared to Omani Rial.
It’s Arabic territory and so extends to the South eastern coast of the Arab peninsula. They are well known for the exportation of mineral resources like asbestos, lime stone, natural gas and copper.
Their policy is effective which was why their status is maintained.
One Omani Rial is equal to 2.60 US dollars and 1000.93 Nigerian Naira.
2: BAHRAINI DINAR BHD
These two things strengthen their currency- Foreign Exchange Policy and Good oil management.
It’s a Middle Eastern country that has Dinar as their medium of exchange.
It is a small Island located along the Western shorelines of Persian Gulf.
It’s richly blessed by oil. That’s not all, their government is working so hard to make a difference unlike other countries that are mismanaging their God’s given gift.
They mine their oil and refine it without seeking the help of foreign support.
One can say that their affluence is at a result of good oil management.
One Bahraini Dinar is equal to 2.65 US dollars and 1018.61 Nigerian Naira.
Having ascertained the tenth to second strongest currency in the whole world, and the popular countries has been mentioned, who knows what the first and best country with strongest currency. Let’s find out…
1: KUWAITI DINAR
It is an Arabic country surrounded by Iraq and Saudi Arabia.
It is the first in our list as the strongest currency in the whole world. This cannot be achieved if their government mismanaged their resource.
It is one of the highest oil producer and supplier in the world. They are the major producer and supplier of oil and thanks to their government for maintaining their status as the strongest currency in the world.
One Kuwaiti dinar is equal to 3.25 US dollars and 1,253.89 Nigerian Naira.
In this article “strongest currency in the whole world”, Kuwait took the first position unlike our reasoning for US and or Europe to be the best.
Whenever you are asked to tell the strongest currency in the whole world, I believe you know the right answer to that.