The Top 7 Strongest Currencies Right Now Internationally
The value of currency is affected by supply and demand. The more foreign countries are interested in acquiring a certain currency, the more this currency will be worth. On the other hand, whenever a currency loses some of its popularity, it also loses some of its value.
Of course, the value of a currency can be influenced by political instability, war, and economic conditions, among other factors. With that being said, what are some of the strongest currencies right now?
Let’s learn more about some of the world’s strongest currency right now and about the countries that print them:
1. The Kuwaiti Dinar – KWD Currency
The Kuwaiti Dinar is the strongest currency right now in the world, as 1 KWD is worth 3.29 USD. Even though the United States Dollar is not one of the strongest currencies in the world right now, it is globally used for currency exchange. As such, it’s common to compare the value of other currencies with the USD.
The Kuwaiti Dinar, then, is worth more than 3 USD, which makes it a highly valuable currency. It was first introduced in 1961, after Kuwait, a small country located at the tip of the Persian Gulf, gained its independence from the United Kingdom.
The wealth of Kuwait is mostly due to its petroleum-based economy, as they export this natural resource to a global world market.
2. Bahraini Dinar – BHD Currency
The world’s second strongest currency is currently the Bahraini Dinar, which is worth 2.65 USD. This currency was first introduced in 1965, and is the official currency of Bahrain.
The Kingdom of Bahrain is an island nation that counts 84 islands, including 33 artificial ones.
Just like Kuwait, Bahrain owes its wealth to the production and processing of petroleum. The BHD is majorly used for oil trade operations around the world.
Tourism is also an important sector of the country’s economy, and scuba diving, bird watching and horse riding are popular activities for tourists, who also enjoy visiting archaeological sites.
3. Omani Rial – OMR Currency
The Omani Rial is the official currency of Oman, the oldest independent state in the Arab world. One OMR is worth 2.60 USD, making it the third strongest currency in the world right now.
It was introduced in 1973, to replace the Rial Saidi, which was itself introduced in 1970 to replace the Gulf Rupee.
The Sultanate of Oman is located at the mouth of the Persian Gulf. The country’s economy mostly depends on oil exports, but tourism is now a fast-growing industry, and Oman is becoming one of the most popular touristic destinations in the Middle East.
4. Jordanian Dinar – JOD Currency
The Jordanian Dinar has been introduced in 1950 to replace the Palestinian Pound as the official currency of Jordan. One JOD is currently worth 1.41 USD, making it the fourth strongest currency worldwide.
The Hashemite Kingdom of Jordan is located in Western Asia, on the East Bank of the Jordan River, which gave it its name. The economy of this small country is well diversified, and it is known for exporting mineral or chemical fertilizers, natural calcium phosphates, and packaged medicaments, among others.
One of Jordan’s most popular tourist attractions is the Al-Khazneh temple, which appeared in the movie Indiana Jones and the Last Crusade.
5. Pound Sterling – GBP Currency
The Pound Sterling is the official currency of the United Kingdom of Great Britain and Northern Ireland. Known as the oldest independent currency in the world, one GBP is currently worth 1.32 USD.
Although the very first pound coin was introduced in 1489, this British currency is more than 1,200 years old and originated during the Roman era, in Continental Europe.
The £ symbol is in fact an ornate L, which stands for Libra, the latin word for balance, or weight. The value of the Pound Sterling was initially equal to the price of a pound of silver.
6. Gibraltar Pound – GIP Currency
The Gibraltar Pound is the official currency of Gibraltar, a British Overseas Territory at the southern tip of the Iberian Peninsula. Just like the Sterling Pound, it is currently worth 1.32 USD.
The Gibraltar Pound was first issued in 1927, and it is exchangeable with the Sterling Pound in the Territory.
The British military used to dominate the economy of Gibraltar, but today, financial services, shipping, tourism, and online gambling have become more important than the naval base.
7. Cayman Islands Dollar – KYD Currency
Finally, the Cayman Islands Dollar is the official currency of the Cayman Islands, another British Overseas Territory located in the Caribbean. One KYD is currently worth 1.22 USD.
This currency was introduced in 1972, to replace the Jamaican Dollar.
The economy of the Cayman Islands is dominated by financial services, as well as by tourism. Tourists enjoy scuba diving, island resorts, the Cayman Turtle Centre, and Hell, a unique black limestone formation.