While many are often tempted to compare currencies in terms if features and other aesthetics, the most important thing about any currency is its value.
The British Pound and the US Dollar are the most popular currencies in the world, but did you know that both are not the strongest?
In fact, the Pound and Dollar are not even among the top four best performing currencies on the forex market.
Below are the 10 strongest currencies in the world currently, as compared to the US Dollar (as of October 2019):
1. Kuwaiti Dinar (1 KWD = $ 3.29)
The Kuwaiti Dinar is the strongest currency in the world, as one Kuwaiti Dinar currently exchanges for $3.29.
The Asian country boasts a lot of wealth as a result of its large oil exports into the global market.
2. Bahraini Dinar (1 BHD = $ 2.65)
The second strongest currency in the world is the Bahraini Dinar. The currency trades at one Bahraini Dinar to $2.65.
Like Kuwait, Bahrain is also an island state in the Persian Gulf and has its major source of income from petroleum exports.
3. Omani Rial (1 OMR = $ 2.60)
The Omani Rial comes in third-place amongst the strongest currencies in the world currently. It exchanges one OMR for $2.60.
Oman is also a big exporter of petroleum resources and has had a stable currency for many decades.
4. Jordanian Dinar (1 JOD = $ 1.41)
One Jordanian Dinar exchanges for $1.41 and that makes it the fourth strongest currency in the world at the moment.
Jordan lacks oil but its government has still managed to peg the US Dollar back for the last two decades.
5. Pound Sterling (1 GBP = $ 1.26)
The British Pound Sterling is now the fifth strongest currency in the country. In recent years, the currency has however been affected by the Brexit.
One Pound Sterling exchanges for $1.26.
6. Cayland Islands Dollar (1 KYD = $ 1.20)
The Cayland Islands Dollar is the sixth strongest currency in the world and it exchanges for 1KYD per $1.20.
The country is also one of the world’s best tax havens.
7. Euro (1 EUR = $ 1.12)
The Euro is the world’s second biggest reserve currency and is used by many European countries.
One Euro exchanges for $1.12 and is currently the official currency of 19 of the 28 EU member countries.
8. Swiss Franc (1 CHF = $ 1)
The Swiss Franc, which is the official currency of Switzerland, is the eight strongest currency in the world.
One Swiss Franc has the same market value as the US Dollar, thus one Swiss Franc exchanges for $1.
9. US Dollar
Although the US dollar is the most traded currency in the world, it comes in ninth-place on the list of strongest currencies.
Every country in the world uses the US Dollar to trade.
10. Canadian Dollar (1 CAD = $ 0.74)
The Canadian Dollar is also one of the most traded currencies globally, and is the 10th strongest currency in the world.
One Canadian Dollar exchanges for $0.74.