The economic system of the world is running on the American currency dollar, but it is not the strongest currency in the world, so do you know which country has the strongest currency in the world?

Currently, the currencies of about 180 countries are in circulation in the world's economic system and the major economic system of the world is running on the US dollar. It is the most traded currency globally by a wide margin and is therefore considered by many to be the strongest currency in the world.

The dollar is also the world's largest reserve currency, meaning the currency most held by central banks as well as the currency used to denominate many commodities, including oil, gold and copper.

However, surprisingly, among the 180 traditional fiat currencies in use in the world, the US dollar is not the strongest currency in the world (a fiat currency is money whose value is not tied to a physical commodity such as gold or silver), but it is It is at the bottom of the top ten strongest currencies in the world.

The American business magazine FourBiz has released a report on the 10 strongest currencies in the world, with the Kuwaiti Dinar at the top.

The report ranks the strongest currencies based on the amount of dollars needed to buy one unit of each currency.

Here is the list of 10 strongest currencies in the world.

Kuwaiti Dinar (KWD)



The Kuwaiti dinar is the strongest currency in the world, with one dinar buying 3.26 dollars (or alternatively, one dollar equals 0.31 Kuwaiti dinars).

One Kuwaiti Dinar is equal to 909.65 Pakistani Rupees.

The Kuwaiti dinar was introduced in the 1960s and was initially pegged to the British pound.

2. Bahraini Dinar (BHD)

The Bahraini dinar is the world's second strongest currency, with one dinar buying $2.65 (or $1 equals 0.38 Bahraini dinars).

One Bahraini Dinar is equal to 740.81 Pakistani Rupees.

The Bahraini dinar came into circulation in 1965 and was pegged to the dollar.

3. Omani Rial (OMR)

The Omani Rial is the third strongest currency in the world, with one Rial buying $2.60 (or 0.38 Omani Rials to one dollar).

The Omani Rial was introduced in the 1970s and its value was also pegged to the dollar.

4. Jordan Dinar (JOD)

. . . . Jordanian Dinar (JOD)

The Jordanian dinar is the fourth strongest currency in the world, with one dinar buying $1.41 (or 0.71 Jordanian dinars to one dollar).

The Jordanian dinar came into circulation in 1950 and its value was also pegged to the dollar.

5. British Pound (GBP)

The British pound is the world's fifth strongest currency, with one pound buying 1.22 dollars (or one dollar equaling 0.82 British pounds). One British Pound is equal to 355.65 Pakistani Rupees.

According to the World Bank, the UK economy is the sixth largest in the world in terms of gross domestic product (GDP). The pound was first introduced in the 1400s before it was decimalized in 1971.

6. (tie) Cayman Islands Dollar (KYD)

The Cayman Islands dollar is the sixth strongest currency in the world, with one Cayman dollar buying $1.20 (or the equivalent of 0.83 Cayman Islands dollars).

Caymans is a British territory in the Caribbean and an offshore financial center. The Cayman Islands dollar was first introduced in the 1970s and was also pegged to the dollar.

7. (tie) Gibraltar Pound (GIP)

 

The Gibraltar pound is the seventh strongest currency in the world, with 1 pound buying 1.22 dollars (or 0.82 Gibraltar pounds to one dollar).

Gibraltar occupies just 2.6 square miles at the southern tip of Spain and is officially a British territory. The Gibraltar pound was first introduced in the 1920s and was pegged to the British pound (ie one GIP equals one GBP).

8. (Tie) Swiss Franc (CHF)

The Swiss franc ranks eighth among the world's strongest currencies, with one franc buying $1.08 (or 0.92 Swiss francs to one dollar).

The Swiss franc is the official legal tender of Switzerland and its smaller neighbor Liechtenstein, and the currency is seen as a safe haven due to Switzerland's political stability. The Swiss franc was introduced in 1850 and was later briefly pegged to the euro before going free-float.

9. Euro (EURO)

 

 

Euro is the ninth strongest currency in the world. In this, one euro buys 1.08 dollars (or 0.93 euros to one US dollar).

The euro is the official currency of 20 of the 27 countries that make up the European Union. Euro coins and banknotes entered circulation in 2002 and the currency is free-floating.

10. United States Dollar (USD)

The US dollar is the 10th strongest currency in the world.

  • The US dollar was created in the 1700s. The dollar is legal tender in the United States. This currency is also used in Puerto Rico and other sovereign countries such as Ecuador and Zimbabwe.