Certain currencies are so strong that they would create significant economic turmoil globally if they collapse. The value of a currency reflects the strength and stability of the country’s legal tender. Currencies of very successful countries tend to increase in value. High currency value implies that inflation processes in the country are under control. The popularity of a currency does not guarantee its high value. The economic dominance of a nation also does not warrant its currency to be the strongest.
A nation that possesses the best currency in the world is expected to have a robust economic environment. These conditions, among many, strengthen its currency. Over time, the world has accepted certain currency denominations and prefers using them for transactions. Every country’s central bank does its best to stabilize the inflationary pressures of its currency. The institution uses fiscal and monetary policies to make this work. However, demand and supply forces always outweigh such policies to put a specific value for the currency associated.
Here are the top 20 highest currencies in the world.
|Rank||Currency||Compared to USD|
|1.||Kuwaiti Dinar (KWD)||1 USD = 0.30 KWD|
|2.||Bahraini Dinar (BHD)||1 USD = 0.38 BHD|
|3.||Oman Rial (OMR)||1 USD = 0.38 OMR|
|4.||Jordan Dinar (JOD)||1 USD = 0.71 JOD|
|5.||British Pound Sterling (GBP)||1 USD = 0.72 GBP|
|6.||Falkland Islands Pound (FKP)||1 USD = 0.72 FKP|
|7.||Gibraltar Pound (GIP)||1 USD = 0.72 GIP|
|8.||Saint Helena Pound (SHP)||1 USD = 0.72 SHP|
|9.||Cayman Islands Dollar (KYD)||1 USD = 0.83 KYD|
|10.||European Euro (EUR)||1 USD = 0.85 EUR|
|11.||Swiss Franc (CHF)||1 USD = 0.92 CHF|
|12.||US Dollar (USD)||1 USD = 1.00 USD|
|13.||Bahamian Dollar (BSD)||1 USD = 1.00 BSD|
|14.||Bermudian Dollar (BMD)||1 USD = 1.00 BMD|
|15.||Panamanian Balboa (PAB)||1 USD = 1.00 PAB|
|16.||Canadian Dollar (CAD)||1 USD = 1.25 CAD|
|17.||Brunei Dollar (BND)||1 USD = 1.36 BND|
|18.||Singapore Dollar (SGD)||1 USD = 1.36 SGD|
|19.||Australian Dollar (AUD)||1 USD = 1.36 AUD|
|20.||New Zealand Dollar (NZD)||1 USD = 1.42 NZD|