The 10 Strongest Currencies in the World
The 10 Strongest Currencies in the World
By Matt McIntyre
We all like to get the most out of our money, even if it’s just a few extra cents on the dollar.
With that said, we’ve put together a list of some of the worlds strongest currencies, so you can think about getting a little extra buying power when travelling abroad.
If you think GBP or USD is the strongest currency in the world, then think again!
Here’s a list we put together of the 10 strongest currencies in the world:
The 10 Strongest Currencies In The World
The list of currencies and figures mentioned below have been compiled from various sources around the web, such as FXSSI, Currency Kart & Highest Currency.
These are the 10 strongest currencies in the world:
10. US Dollar
Strongest Currencies - US Dollar
Kicking off our list of the strongest currencies in the world is the US dollar.
It’s the currency of the United States of America and is the most traded and used currency in the world.
It also holds the title of the worlds primary reserve currency and is held by both central and commercial banks all over the world.
Depending on your currency, it’s not the best time to convert some of your cash into dollars, however, it’s well worth keeping an eye on how it performs, as it doesn’t look like it’s going anywhere soon!
9. Swiss Franc – (1 CHF = 1.01 USD)
Strongest Currencies - Swiss Franc
Next on the list, we have the Swiss Franc, which is the official currency of Switzerland and Liechtenstein!
At roughly 1.01 USD for each CHF, it’s currently not the best conversion rate to USD on the list, however, the Swiss Franc still comes in at number nine for good reason.
Switzerland is one of the wealthiest countries in the world and has a solid track record in banking and finance.
Having some of the worlds strictest monetary policies and lowest debt levels has drawn many an investor to view the Swiss Franc as a “Safe Bet”, choosing to store some of their wealth in the official currency of Switzerland.
Also known for being the sixth most traded currency in the world, the Swiss Franc is expected to retain its value in the foreseeable future!
8. Euro (1 Euro = 1.10 USD)
Strongest Currencies - Euro
The EURO is the primary currency of the European Union and was adopted 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.
The introduction of the EURO was meant to increase the economic interdependency of trade between all EU member that choose to adopt it.
One EURO is approximately equivalent to 1.10 USD at the time of writing.
7. Cayman Islands Dollar – (1 KYD = 1.20 USD)
Strongest Currencies - Cayman Island Dollar
The next strongest currency in the world is the Cayman Islands Dollar.
The Cayman Islands are a British Territory located in the Caribbean and are well known for being one of the worlds best tax havens.
They provide banking licenses for a number of the worlds biggest banks, hedge funds and insurance companies.
The KYD was introduced in 1972 as a replacement for Jamaican Dollars and has gone on to become one of the worlds strongest currencies.
6. Gibraltar Pound – (1 GIP= 1.23 USD)
Strongest Currencies - Gibraltar Pound
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 Euro rate.
5. Pound Stirling – (1 GBP = 1.26 USD)
Strongest Currencies - Pound Sterling
Coming in at number five on our list of the strongest currencies in the world is the Pound Stirling, the official currency of the United Kingdom.
The Pound Stirling is often perceived as being the strongest currency in the world, however, that’s not the case, as it falls short to four Arabian currencies.
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.
At the moment, 1 GBP can be exchanged for 1.26 USD.
4. Jordanian Dinar – (1 JOD = 1.41 USD)
Strongest Currencies - Jordanian Dinar
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 pegged by the United States Dollar for the past 2o years.
This has helped it to become one of the strongest currencies in the world.
However, despite its status, the Jordanian Dinar is still only used in Jordon and nowhere else in the world.
One JOD is currently valued at 1.41 USD.
3. Omani Rial – (1 OMR = 2.60 USD)
Strongest Currencies - Omani Rial
The Omani Rial is the third strongest currency on our list.
This Arabian currency was first introduced in 1973 and has seen a significant rise in value due to the success of the countries oil supply and being pegged to the U.S Dollar.
It’s the official currency of the Sultanate of Oman and is 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 banknotes.
As of 2019, 1 OMR is equivalent to 2.60 USD.
To continue reading, please go to the original article here: