Balogun Kamilu Lekan
Around 180 different currencies are accepted as legal tender by the UN. The strongest currency is the most expensive when measured against the US dollar. You get a little return for every US dollar you spend in that currency.
Below is a list of the top most valuable currencies in the world
5. Pound Sterling
The oldest currency still in use is the Great British pound, also known as the pound sterling or the GBP.
The most widely used currency is the pound sterling, which is frequently regarded as the world’s strongest currency. Additionally, it ranks as the fourth-most traded currency globally, making up about 12.8% of all daily transactions on the FX market.
When exchanging one US dollar for Great Britain pounds, you will get about 0.75 pounds back.
4. Jordan Dinar
The Jordanian dinar, also known as the JOD, is the country’s official currency and currently ranks as the fourth-strongest currency in the world. In 1950, the currency succeeded the Palestinian pound as the official tender in Jordan.
The Jordanian dinar is one of the top five most valuable currencies, trading for approximately 0.71 US dollars.
3. Omani Rial
The official currency of Oman is the Omani rial, or OMR. Unlike most conventional currencies, the Omani rial is divided into 1000 smaller divisions known as baisa.
The success of Oman’s oil exports and its peg to the US dollar caused the Omani rial to appreciate quickly after it was introduced.
Nearly two times as much Omani Rial can be bought with one US dollar as with one Pound sterling.
2. Bahrain Dinar
The Bahrain dinar, or BHD, is the second-strongest currency in the world. It is divided into 1000 smaller currency units, known as “fils,” just like most Arabic currencies on this list. Only used in Bahrain, the Bahraini dinar is pegged to the US dollar.
A Bahraini dinar is equivalent to 0.38 US dollars and has a similar value to the Omani rial.
1. Kuwaiti Dinar
The Kuwaiti dinar, or KWD, regarded as the world’s strongest currency, was first introduced in 1960 and initially had a value equal to one pound sterling. Kuwait is a tiny nation sandwiched between Saudi Arabia and Iraq, and its substantial international oil exports have been the main driver of its economic development.
The Kuwaiti dinar is the world’s highest-valued currency unit per face value, or simply “the world’s strongest currency,” as you only get 0.30 dinar for every US dollar you exchange.
The information in this article was curated from online sources. NewsWireNGR or its editorial team cannot independently verify all details.
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