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 7 strongest currencies in the world:
Kicking off our list of the strongest currencies in the world is the US dollar. It’s the currency of the United States of America and is the most traded and used currency in the world. It also holds the title of the worlds primary reserve currency and is held by both central and commercial banks all over the world. Depending on your currency, it’s not the best time to convert some of your cash into dollars, however, it’s well worth keeping an eye on how it performs, as it doesn’t look like it’s going anywhere soon!
Kuwaiti Dinar – (1 KWD = 3.29 USD)
The worlds strongest currency is the Kuwaiti Dinar. It is the highest valued currency against the United States Dollar. Located on the tip of the Persian Gulf, between Iraq and Saudi Arabia, Kuwait’s wealth can be attributed to its heavy exports of oil to a global market. More recently, it has been pegged to an unnamed basket, valued at 1 KWD to 3.29 USD.
Bahraini Dinar – (1 BHD = 2.65 USD)
In second place, we have the Bahraini Dinar, which is the official currency of Bahrain and first introduced in 1965. Bahrain is a PersianGulf Island State, populated by just over 1 million people. Most of the expats in Bahrain are Indian, which makes the BHD to INR the most common. The majority of the countries wealth comes from exporting its petroleum products. Similar to the Jordanian Dinar, the Bahraini Dinar is only used in Bahrain and is pegged by the U.S. dollar.
Omani Rial – (1 OMR = 2.60 USD)
This Arabian currency was first introduced in 1973 and has seen a significant rise in value due to the success of the countries oil supply and being pegged to the U.S Dollar. It’s the official currency of the Sultanate of Oman and is the third-highest status currency in the world. The purchasing power of this currency is so high, that the government has to introduce 1/4 and 1/2 Rial banknotes. As of 2019, 1 OMR is equivalent to 2.60 USD.
Jordanian Dinar – (1 JOD = 1.41 USD)
The Jordanian Dinar, JOD, is the official currency of Jordan, an Arabic nation on the bank of the river Jordan. Introduced in 1949, replacing the Palestinian pound, the Jordanian Dinar has been pegged by the United States Dollar for the past 2o years. This has helped it to become one of the strongest currencies in the world. However, despite its status, the Jordanian Dinar is still only used in Jordon and nowhere else in the world. One JOD is currently valued at 1.41 USD.
Cayman Islands Dollar – (1 KYD = 1.20 USD)
The next strongest currency in the world is the Cayman Islands Dollar. The Cayman Islands are a British Territory located in the Caribbean and are well known for being one of the worlds best tax havens. They provide banking licenses for a number of the worlds biggest banks, hedge funds and insurance companies. The KYD was introduced in 1972 as a replacement for Jamaican Dollars and has gone on to become one of the worlds strongest currencies.
Gibraltar Pound – (1 GIP= 1.23 USD)
The Gibraltar pound is the official currency of Gibraltar. As well as being used on its own, it’s also able to be exchanged with the British Pound at par value and, aesthetically, looks very similar. All notes and coins of the Gibraltar Pound are printed by the Government of Gibraltar. The most common Gibraltar exchange rate is the GIP to Euro rate.
Euro (1 Euro = 1.10 USD)
The EURO is the primary currency of the European Union and was adopted on January 1, 1999. It holds the title as the second world reserve currency and is the official currency of 19 of the 28 member countries in the EU. The introduction of the EURO was meant to increase the economic interdependency of trade between all EU member that choose to adopt it. One EURO is approximately equivalent to 1.10 USD at the time of writing.