Top 7 Strongest Currencies in the World; US Dollar Excluded
TEMPO.CO, Jakarta – It is actually not surprising that the US dollar is not among the strongest currencies despite being the most-traded currency globally and the most potent currency on earth.
When it comes to currencies with the highest exchange rates, the British pound and the US dollar are often in the limelight. However, there are countries with more robust currencies than these two.
Here is a list of the top seven strongest currencies in the world:
1. Kuwaiti Dinar
The Kuwaiti dinar takes the top spot on the list of countries with the highest-value currencies globally, with 1 KWD worth US$3.26. Introduced in the 1960s, the Kuwaiti dinar was initially tied to the British pound. Kuwait is situated on the Persian Gulf between Saudi Arabia and Iraq and is known as one of the world’s leading exporters of oil, a significant source of its wealth.
2. Bahraini Dinar
Just below the Kuwaiti dinar is the Bahraini dinar, with 1 Bahraini Dinar equal to US$2.65. It was first circulated in 1965 and was pegged to the US dollar. Bahrain is an island nation in the Persian Gulf located off the east coast of Saudi Arabia. Similar to Kuwait, Bahrain derives most of its income from oil and gas exports.
3. Omani Rial
The Omani rial is third on the list. Introduced in the 1970s, one rial is worth up to 2.6 U.S. dollars. Oman is located between the United Arab Emirates and Yemen, at the eastern tip of the Arabian Peninsula.
Apart from being known as a major exporter of oil and gas, Oman also has a rapidly growing economy, including tourism and international trade. Its natural wealth, especially oil and gas, has been a major driver of the country’s economic growth.
4. Jordanian Dinar
Jordan, a country in the Middle East, has faced the challenges of sluggish economic growth and rising debt. However, its currency ranks fourth on the list.
The Jordanian dinar, which has been in circulation since 1950, is tied to the US dollar at 1.41 U.S. dollars to 1 Jordanian dinar. Despite some economic difficulties, the country has a thriving tourism sector and is a popular tourist destination in the Middle East. Jordan also continues striving to increase investment and diversify the economy to strengthen its position in the global economy.
5. British pound
According to the World Bank, the United Kingdom’s economy is the sixth largest in the world in terms of gross domestic product (GDP). The British pound was first introduced in the 15th century before being decimalized in 1971. Currently, the British pound is worth US$1.2. Although it has fluctuated in value throughout its history, it remains one of the most important and stable currencies in the world.
6. Cayman Islands dollar
Cayman is a territory in the Caribbean affiliated with the United Kingdom and known as an international financial center. Its currency, the Cayman Islands dollar, was introduced in the 1970s and has a strong global value, with US$1.20 to 1 KYD.
7. Gibraltar Pound
Gibraltar, a territory located at the southern tip of Spain and is part of the United Kingdom, shares the same spot as the Cayman dollar, as 1 Gibraltar pound is worth US$1.20. Its currency was first introduced in the 1920s and is pegged to the British pound.
VIVIA AGARTA FEBRIATI | DWI ARJANTO
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