Top 10 strongest currencies in the world in 2021 – It is also strongest than US Dollar
Hello YouArmy,
Good Afternoon,
According to the UN, there are over 180 currencies from around the world are recognized.
There are several factors that influence the value of a currency like Country’s GDP rate, economic conditions, Export-Import rate. Thus, one country’s currency strength can be measured.
It’s important to note that country’s economy doesn’t necessarily indicate a stronger currency. For instance, Japan’s economy is regarded as one of the world’s strongest. Yet, a single Japanese Yen exchange for considerably less than one US dollar.
Countries around the world purchase other currencies, and this can contribute to variations in a currency’s value. For example, the US dollar is considered one of the strongest currencies because so many countries buy this currency. If investors and consumers were to stop buying US dollars, its value would drop significantly.
[Note: The Below Currency Rate was measured in 2021]
Let’s get to the point, Here’s a list of Top 10 strongest currencies in the world against the world’s most traded currency – the US dollar (USD). Here we go…
No. 10) US Dollar
US dollar itself is in the top 10 list! Yeah Kind of a LOL!
No. 9) Swiss Franc
Currency Rate: (1 CHF = 1.03 USD)
Country: Switzerland and Liechtenstein
On our 9th list, we have the Swiss Franc.
At roughly 1.03 USD for each CHF, it’s currently not the best conversion rate to USD on the list. However, it still comes in at number nine for good reason.
Switzerland is one of the wealthiest countries in the world and strong in the banking and finance field.
Having some of the world’s strictest financial policies and lowest loan rate Swiss Franc regarded as a “Safe Bet” currency in Switzerland as well as in the world.
Switzerland’s Swiss Franc is also known for being the sixth most traded currency in the world is expected to retain its value in the future!
If you look very carefully, you will see how extraordinary this banknote is! This is the only banknote ever seen by me which has a vertical view. It looks very strange, isn’t it?
No. 8) Euro
Currency Rate: (1 Euro = 1.09 USD)
Country: European Union
The EURO is the primary currency of the European Union and was chosen on January 1, 1999.
It holds the title as the second world reserve currency and is the official currency of 19 of the 28 member countries in the EU.
The currency first began virtually, in the form of traveller cheques and electronic bank transfers, and physical notes and coins appeared a few years later in 2002.
EURO was introduced to increase the economic dependency of trade between all EU member that choose to adopt it.
No. 7) Cayman Islands Dollar
Currency Rate: (1 KYD = 1.21 USD)
Country: Cayman Islands
The Cayman Islands are a British Territory located in the Caribbean and are well known for being one of the world’s best tax-havens.
Thanks to its leadership among tax haven Cayman Islands Dollar costs approximately 1.21 US Dollars.
They provide banking licenses for a number of the world’s biggest banks, boundary funds, and insurance companies.
The KYD was introduced in 1972 as a replacement for Jamaican Dollars and after a few decades, it now listed on one of the world’s strongest currencies.
No. 6) Gibraltar Pound
Currency Rate: (1 GIP= 1.22 USD)
Country: Gibraltar
The Gibraltar Pound is the official currency of Gibraltar.
As well as being used on its own, it’s also able to be exchanged with the British Pound at par value and, aesthetically, looks very similar.
All notes and coins of the Gibraltar Pound are printed by the Government of Gibraltar.
The most common Gibraltar exchange rate is the GIP to the Euro rate.
No. 5) Pound Sterling
Currency Rate: (1 GBP = 1.22 USD)
Country: United Kingdom (England)
Most people consider that British Pound is the strongest world currency, but it only ranked the top five of this list.
British Colonies issue their own banknotes, which visually differ from banknotes issued by the Bank of England, but they are valued as 1 per 1.
There are several of them: Scottish, North Ireland, Manx, Jersey, Guernsey, Gibraltar Pounds, Falkland Islands Pound & many.
Amusingly, native British People do not always want to accept other Pounds as a means of payment.
With the United Kingdom deciding to leave the EU, this has had a negative effect on the Pounds value.
It’s one of the most widely used currencies and the oldest independent currency in the world, being first used in the United Kingdom in 1489.
WAIT! WAIT!
[ TIPS: The next 4 currencies are considered as the strongest currencies around the world. But did you know, why it is?
It’s because they are the Arabian countries from where about 90% of Oil is produced around the world. And we as well as the whole world are very dependable on Oil. It’s a resource of the world’s 70% energy. Thus, these countries generate huge penny from Oil Industry. ]
No. 4) Jordanian Dinar
Currency Rate: (1 JOD = 1.41 USD)
Country: Jordan
The Jordanian Dinar (JOD) is the official currency of Jordan, an Arabic nation on the bank of the river Jordan.
Introduced in 1949, replacing the Palestinian pound, the Jordanian Dinar has been kept its place against the US Dollar for the past 2o years.
However, despite its rank, the Jordanian Dinar is still only used in Jordon.
No. 3) Oman Rial
Currency Rate: (1 OMR = 2.60 USD)
Country: Oman
The Oman Rial is the third strongest currency on our list. It’s the official currency of the Sultanate of Oman. Oman is a country on the Arabian Peninsula.
This Arabian currency was first introduced in 1973 and has seen a significant rise in value due to the success in oil supply.
The purchasing power of this currency is so high, that the government has to introduce 1/4 and 1/2 Rial banknotes.
No. 2) Bahraini Dinar
Currency Rate: (1 BHD = 2.65 USD)
Country: Bahrain
The Bahrain Dinar is the second most valuable currency, which is the official currency of Bahrain and first introduced in 1965.
Bahrain is a Persian Gulf island state with a population of just over 1 million people. Most of the habitats in Bahrain are Indian, which makes the BHD to INR the most common.
As in the first case, this country’s largest source of income is the Petroleum (Which is called Black Gold) exports.
Interestingly, the Bahrain Dinar is pegged to the US Dollar exchange rate, and its rate against the US Dollar has remained stable since 2005.
Similar to the Jordanian Dinar, the Bahraini Dinar is only used in Bahrain and is pegged by the US Dollar.
No. 1) Kuwaiti Dinar
Currency Rate: (1 KWD = 3.23 USD)
Country: Kuwait
The highest currency in the world is Kuwaiti Dinar (against the US Dollar) and ranked #1 in our “Top 10 strongest currencies in the world” list.
Kuwait is a small country with large wealth. The high value (rate) of its currency is gained by Oil Exports into the global market.
Due to the stable Petroleum-based economy, highly developed oil production and export, Kuwait is considered to be one of the richest countries in the world.
More than 80% of the country’s revenue comes from the only oil industry, as petroleum production here is the easiest and the cheapest compared to other countries.
Over the years, the Kuwaiti Dinar has been pegged to a number of different currencies. Most recently, it was pegged to the US Dollar from 2003 to 2007.
Besides the very stable economy, Kuwait is a tax-free country with a very low unemployment rate.
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