There are almost two hundred countries in the world, but that doesn`t mean that every one of them has their own currency. There is a fact that one currency can be used in several, even as the main currency. A high majority of people believe that currencies like the European currency Euro, US dollar, or UK Pound are the strongest one. We are going to present you with the top 10 currencies of the world and the honorable mentions.
Currency No.10 – Canadian Dollar (CAD)
When we are talking about the Canadian Dollar, we are talking about the fifth largest reserve of all currencies in the world. Some are calling it Loonie, due to the picture of the bird in the one-dollar coin.
Currency No.9 – US Dollar (USD)
Maybe it is not the world`s powerful currency, but it is the world`s most influential one. Some economists are calling it the World Reserve Currency. That means that you can pay with dollars in most of the other countries.
Currency No.8 – Switzerland`s Franc (CHF)
Swiss is a very wealthy country. Also, they have one of the most stable currencies in the world. They probably have the most efficient bank system in the world. It is called the Bank Secrecy. Their biggest export product is high technology devices.
Currency No.7 – European Euro (EUR)
After the collapse of the German previous currency, Euro emerged as a possibility for all of Europe. And over the years, it has grown drastically. The reason is that it is the official currency in several economically developed countries on the European continent.
Currency No.6 – Cayman Islands Dollar (KYD)
The Cayman Islands can thank for their high currency to them being one of a few world’s heavens for taxes. The country itself is supporting various banks that are working inside it.
Currency No.5 – British Pound Sterling (GBP)
It is often mistaken that GBP is the world`s strongest currency, but that is not the case. At least it enters the top five. It is the official currency in all of UK, and in the large part of British Crown Commonwealth.
Currency No.4 – Jordan Dinar (JOD)
When it comes to Jordan, and its currency, it is not easy to explain how they have such a strong one. The country lacks most of the essential resources and it isn`t economically developed like their neighbor countries.
Currency No.3 – Oman Rial (OMR)
Oman is located on the Arabian Peninsula, just beneath Saudi Arabia, and near Yemen. Due to its location, the population of Oman has real quality and wealthy life. The currency is so high that they have ½ and ¼ banknotes.
Currency No.2 – Bahraini Dinar (BHD)
After Kuwait, we have another Persian Gulf country, Bahrain, with the population slightly over one million people. Naturally, like the previous one, their biggest profit comes from oil export into the world market.
Currency No.1 – Kuwait Dinar (KWD)
Kuwait dinar is the world`s strongest currency. It comes from a very small country that accumulated massive amounts of wealth. The reason is their very significant export of oil into the world`s market.
Honorable Mentions
Now, we will talk about currencies that didn`t make our top ten.
Australian Dollar (AUD)
The new design of the Australian dollar is pretty interesting to see. However, Australia prepares itself for a world without cash. We will see how this will turn up at the end.
Azerbaijani Manat (AZN)
Azerbaijan is a country that has one of the lowest levels of unemployment. It is slightly weaker than the US Dollar.
Libyan Dinar (LYD)
Libya`s currency has tokens named Dirham. It is very interesting to know that 1 Dinar equals 1000 Dirham. Usually in world currencies, one equals a hundred.
Is the High Value of Currency Representing Strong Economy?
We all know that countries who are not economically developed have their currencies decreasing. On the opposite, that is not the case. The country that has its economy and currency growing by the day is not profiting. The reason is, the more powerful currency, the population tends to save it, instead of spending it on a daily basis.
We can give you the Japan example. Even they have one of the strongest economies in the world, their currency is a very small one. $1 equals 109.77 Yen. The information about currencies is used by investors to make their investment plan for a certain country. Naturally, they are choosing the most stable ones. It is simple logic.