We all want to get the most for our money, even if it's a few cents more on the dollar.
With that in mind, we've compiled a list of some of the strongest currencies in the world so you can think about gaining a little more purchasing power when you travel abroad.
If you think GBP or USD is the strongest currency in the world, think again!
Here is a list of the 10 strongest currencies in the world that we have compiled:
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Top 10 strongest currencies in the world
The list of currencies and numbers mentioned below has been compiled from various sources on the internet such as:FXSSI,currency card&highest coin.
These are the 10 strongest currencies in the world:
10. US dollar
The US dollar starts our list of the strongest currencies in the world.
It is the currency of the United States of America and the most traded and used currency in the world.
It also holds the title of the world's leading reserve currency and is held by central and commercial banks around the world.
Depending on your currency, this might not be the best time to convert some of your cash into dollars, but it's worth keeping an eye on performance as it doesn't look like it's going anywhere anytime soon!
9. Swiss Francs –(1 CHF = 1,01 USD)
Next on the list is the Swiss franc, the official currency of Switzerland and Liechtenstein!
At around $1.01 per CHF, that's not the best dollar conversion rate on the list right now, but the Swiss franc still ranks ninth, and for good reason.
Switzerland is one of the wealthiest countries in the world and has a strong banking and financial history.
Some of the world's tightest monetary policies and lower debt levels have led many investors to view the Swiss franc as a "safe bet" and have chosen to keep some of their wealth in Switzerland's official currency.
Also known as the sixth most traded currency in the world, the Swiss Franc will maintain its value for the foreseeable future!
8,-euros(1 euro = 1,10 USD)
The EURO is the main currency of the European Union and was introduced on January 1, 1999.
It holds the title of the world's second reserve currency and is the official currency of 19 of the 28 EU member countries.
Currency initially began virtually in the form of travelers checks and electronic bank transfers, as well as physical notes andcoinsappeared a few years later, in 2002.
The introduction of the EURO should increase the economic interdependence of trade between all EU members that decide to adopt it.
One EURO is roughly equivalent to $1.10 at the time of this writing.
7. Cayman Islands Dollar –(1 KyD = 1,20 USD)
The next strongest currency in the world is the Cayman Islands dollar.
The Cayman Islands are a British territory in the Caribbean and are known for being one of the largest tax havens in the world.
They provide banking licenses to many of the world's largest banks, hedge funds and insurance companies.
Introduced in 1972 as a replacement for the Jamaican dollar, the KYD has become one of the strongest currencies in the world.
6. Gibraltar Pound -(1 GIP = 1,23 USD)
The Gibraltar Pound is the official currency of Gibraltar.
Not only can it be used alone, but it can also be exchanged for British Pounds at face value and looks very similar aesthetically.
All Gibraltar Pound banknotes and coins are printed by the Government of Gibraltar.
The most common exchange rate used by Gibraltar is the GIP Euro exchange rate.
5.Pound Sterling – (1 GBP = 1.26 USD)
Coming in at number five on our list of the strongest currencies in the world is the Stirling Pound, the official currency of the United Kingdom.
The Stirling Pound is often considered the strongest currency in the world, but this is not the case as it ranks below all four Arab currencies.
The UK's decision to leave the EU had a negative impact on the value of the pound.
It is one of the most widely used coins and the oldest independent currency in the world, first used in the UK in 1489.
Currently, 1 GBP can be exchanged for 1.26 USD.
4.Jordanian Dinar – (1 JOD = 1.41 USD)
The Jordanian dinar, JOD, is the official currency of Jordan, an Arab nation on the banks of the Jordan River.
The Jordanian dinar was introduced in 1949, replacing the Palestinian pound. It has been pegged to the US dollar for 20 years.
This has helped make it one of the strongest currencies in the world.
However, despite its status, the Jordanian dinar is only used in Jordan and nowhere else in the world.
A JOD currently has a value of $1.41.
3. Omani Rial –(1 OMR = 2,60 USD)
The Omani Rial is the third strongest currency on our list.
This Arabic currency was first introduced in 1973 and has seen significant appreciation due to the country's successful oil supply and its peg to the US dollar.
It is the official currency of the Sultanate of Oman and the third highest status currency in the world.
The purchasing power of this currency is so high that the government has to introduce 1/4 and 1/2 rial notes.
As of 2019, 1 OMR equals $2.60.
2. Bahrain-Dinar –(1 baht = 2,65 USD)
Coming in second is the Bahraini Dinar, which is the official currency of Bahrain and was first introduced in 1965.
Bahrain is an island country in the Persian Gulf with a population of just over 1 million.
Most expats in Bahrain are Indians, making BHD to INR the most common.
Most of the country's wealth comes from the export of its oil products.
Similar to the Jordanian Dinar, the Bahraini Dinar is only used in Bahrain and is pegged to the US Dollar.
1. Kuwait Dinar –(1 KD = 3,29 USD)
The strongest currency in the world is the Kuwaiti dinar.
It is the most valued currency against the US dollar.
Located at the tip of the Persian Gulf between Iraq and Saudi Arabia, Kuwait's wealth can be attributed to its extensive oil exports to a global market.
It was first introduced in 1961 after independence from the UK and has since become the most valuable currency in the world.
Over the years, the Kuwaiti dinar has been linked to several different currencies. It was last pegged to the dollar between 2003 and 2007.
Most recently it was linked to an unnamed basket valued at 1 KWD at $3.29.
Summary
We hope you enjoyed our list of the 10 strongest currencies in the world.
Using this knowledge to start a business or serve these countries with a service-based business can be very beneficial for you.
Look for opportunities in countries with the strongest currencies and see what business opportunities might exist.
After all, your money is worth a lot in countries with the strongest currencies.
Here is a quick summary of the 10 strongest currencies in the world:
- Kuwait Dinar – (1 KWD = 3.29 USD)
- Bahrain Dinar - (1 BHD = 2.65 USD)
- Rial omaní – (1 OMR = 2,60 USD)
- Jordanian Dinar – (1 JOD = 1.41 USD)
- Pound Sterling – (1 GBP = 1.26 USD)
- Gibraltar Pound – (1 GIP = $1.23 USD)
- Cayman Islands Dollar – (1 KYD = 1.20 USD)
- Euro – (1 EURO = 1,10 USD)
- Swiss Francs – (1 CHF = 1.01 USD)
- USD