Although the U.S. dollar is one of the most convertible currencies in the world, it is still far from being the most valuable currency in the world. The importance of the national economies influence the value of money. Let’s get acquainted with the leaders of the world’s money systems.
|№ in the rating||Currency name||Country||Ratio to USD|
|1||Kuwaiti Dinar||Kuwait||1 KWD = 3.31 USD|
|2||Bahraini Dinar||Bahrain||1 BHD = 2.65 USD|
|3||Omani Rial||Oman||1 OMR = 2.60 USD|
|4||Jordanian Dinar||Jordan||1 JOD = 1.41 USD|
|5||British Pound||Great Britain||1 GBP = 1.36 USD|
|6||Gibraltar Pound||Gibraltar||1 GIB = 1.358 USD|
|7||Cayman Islands Dollar||Cayman Islands||1 KYD = 1.22 USD|
|8||Euro||European Union||1 EUR = 1.19 USD|
|9||Swiss Franc||Switzerland||1 CHF = 1.03 USD|
|10||U.S.Dollar||United States||1 USD = 1 USD|
TOP-10 currencies in the world
- Kuwaiti Dinar: since the time of Kuwait’s independence, the currency of this state has been firmly entrenched in the rating due to the significant oil reserves. Since 2013, the Kuwaiti dinar is the undisputed leader in the ranking.
- Bahraini Dinar: its rate depends on the US dollar rate, as there is an American navy in the territory of Bahrain. Thanks to its strategic importance and mineral reserves, this currency deserved an honorable second place.
- Omani Rial is produced in one of the oldest states in the world – the Sultanate of Oman. The rate of the Omani rial depends on the price of oil and reflects the dollar exchange rate.
- Jordanian Dinar belongs to one of the most developed countries in the Middle East – Jordan. The stable economy of this state is based on the extraction of minerals and agriculture.
- British Pound. Having voted against the withdrawal from the European Union, the British government exposed its currency for the first time in many years. But the pound survived even after Brexit. This currency was used in the former colonies of Great Britain and became one of the most famous in the world.
- Gibraltar Pound depends on the British pound, and even the weight of the coins is the same.
- Cayman Islands Dollar correlates with the pound sterling rate, as it is the former colony of Great Britain. Also, the Cayman Islands is a well-known offshore zone that attracts foreign investors.
- Euro deserves leadership in circulation on a par with the US dollar, slightly losing its positions over the past couple of years. Euro is the currency of 17 countries, which are members of the Eurozone, and nine countries are not related to it.
- Swiss Franc is the currency of one of the most stable economies in the world, and therefore the Swiss Franc is also entrenched in the top of the most expensive currencies. Interestingly, images are printed on banknotes vertically.
- U.S. Dollar. As the most popular currency in the world, the US dollar deserves the title of “world reserve currency.” No wonder, half of the Dworld’s payments are made in the U.S. dollar.
Factors that positively affect the value of the currencies:
- the availability of minerals in the country, which can be sold on the international market;
- a stable economy in the state for a long period;
- dependence of the currency to the other one.
The tendency of the foreign exchange market
As you may notice, the oil-rich states of the Arab Peninsula are undeniable leaders in the currency market. Nevertheless, their currencies are not the basis of the foreign exchange reserve, because the value of these currencies is based on natural resources (mainly oil). Oil tends to end, which means that only those countries whose economies are stable will remain among the leaders. Experts predict that the British Pound, the Euro, the Swiss Franc and the US dollar have the biggest chances to stay in the top in the long run.
If you decide to link your activities to a currency exchange or foreign investment, you should understand the value of money. Remember – knowledge of the laws of the money market will help you increase your monthly income by dozens of times!