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
1.Kuwaiti Dinar: KWD
Kuwait is a relatively very small country that is geographically located between Iraq and Saudi Arabia. KWD conversion rate is $3.257 which implies if you exchange one USD you will receive only 0.306 Kuwaiti Dinar.
2.Bahraini Dinar: BHD
BHD stopped using the gulf rupee as legal tender and introduced Bahraini Dinar in 1965. BHD is pegged to the US Dollar and since 1987 the exchange rate against the USD is pretty much stable with less volatility.
3.Omani Rial: OMR
Omani Rial was introduced in 1970 as Saidi Rial named after the sultanate of Oman, The House of Al Said. Since 1973 OMR is pegged to the US Dollar.
4.Jordanian Dinar: JOD
It was pegged to the US Dollar initially at a higher rate but for the last 2 decades, the country has managed successfully to maintain this peg.
5.Cayman Islands Dollar: KYD
6.British Pound: GBP
GBP is the oldest currency in circulation in British Empire before world war I was spread across the length and breadth of the globe. GBP is among the top traded currencies in the world. The GBP/USD pair is commonly known as “the cable,” in the Fx market by traders and it is the third most traded pair in the forex market after EUR and JPY.
The Pound Sterling is not only the national currency of England but also in Scotland, Wales, and Northern Ireland. GBP is used as a parallel currency in 3 British Crown Dependencies – Guernsey, Jersey, and the Isle of Man.
Few British colonies like Falkland Islands, Gibraltar, and Saint Helena have their own respective currency which is valued at 1 per 1. However, the physical appearance of these paper currencies differs from the one issued by the Bank of England.
7.European Euro: EUR
EURO is the second reserve currency after the USD commanding a market share of 25% of all world savings. Approximately 25 countries have pegged their currencies to Euro at a fixed rate.EUR/USD pair also referred to as “Fiber” is the most traded currency pair which accounts for more than 25% of daily volume. Also, EURO boasts to be the second most traded currency after the US Dollar.
8.Swiss Franc: CHF
9.US Dollar
USD is always in high demand as it is accepted all over the world. USD is involved in more than 85% of daily forex trades. The USA with a GDP of more than 22 Trillion is the economic engine of the world.
The USD currency in circulation is worth 1.69 trillion USD as of September 2018. Only 30% of currency is in circulation inside the United States.
There was a time in the US when notes with the face value of $1,000, $5,000, $10,000, and $100,000 were issued.
10.Bahamian Dollar: BSD
Many of the businesses which cater to the tourism industry keep some extra US dollars with them for the convenience of American tourists.