What are the strongest currencies in the world?

The United Nation recognizes around 180 currencies as legal tender but which one holds the most value? Based on CMC Market report obtained by Matrix ,to compare the value of currencies, we have used the United State dollar as a fixed based currency. The strongest currency here is defined as the one that is most expensive in comparison to US dollar. That is , the currency that gives you the smallest return for 1 US dollar.

1.Kuwaiti dinar

Known as the strongest currency in the world, the Kuwaiti dinar or KWD was introduced in 1960 and was initially equivalent to one pound sterling. Kuwait is a small country that is nestled between Iraq and Saudi Arabia whose wealth has been driven largely by its large global exports of oil.

You will receive just 0.30 Kuwait dinar after exchanging 1 US dollar, making the Kuwaiti dinar the world’s highest-valued currency unit per face value, or simply ‘the world’s strongest currency’.

2. Bahrain dinar

The second strongest currency in the world is the Bahrain dinar or BHD. Like most Arabic currencies on this list, it is divided into 1000 smaller currency units, in this case, called ‘fils’. The Bahraini dinar is only used in Bahrain and is pegged against the US dollar.

Of similar value to the Omani rial, when trading 1 US dollar you will receive 0.38 Bahraini dinar.

3. Omani rial

The Omani rial or OMR is the national currency of Oman. Unlike most conventional currencies, the Omani rial is split into 1000 smaller divisions known as baisa. The Omani rial quickly rose in value after being introduced due to the success of Oman’s oil exports and being pegged against the US dollar.

A single US dollar will exchange for around 0.38 Omani Rial, which is nearly double the currency strength of the Pound sterling!

4. Jordan dinar

The national currency of Jordan is the Jordanian dinar or JOD, which earned the position as the 4th strongest currency in the world today. The currency became Jordan’s official currency in 1950 after it replaced the Palestinian pound.

1 US dollar is transferrable for around 0.71 Jordanian Dinar, earning the currency a rightful place in the top 5 most valuable currencies.

5. Pound sterling

The Great British pound, the pound sterling or the GBP is the 5th most valuable currency in the world. Although the GBP is not the strongest currency in the world, it does keep the title as the oldest currency still in circulation.

The pound sterling is often thought to be the strongest currency in the world and is the strongest currency in the world that is widely used. It’s also the 4th most traded currency globally, accounting for around 12.8% of daily trades on the foreign exchange market.

When exchanging a single US dollar, you will receive around 0.75 Great British pounds in return. This currency pair (USD/GBP), is commonly known as “cable” and is the 3rd most traded currency pair in the world...

See the full list here: https://matrixliveng.com/top-ten-strongest-currencies-in-the-world