Top 10 Strongest Currencies in the World 2020- Currency usually is a common form of money, which includes coins and paper notes, which is issued via a government and circulated within an economy. Used as a medium of trade for items and services, foreign money is the groundwork for a business. Currency is peculiar to every country which is different and cheaper from and expensive than the other. Therefore, in this post, we will focus on the Top 10 Strongest Currencies in the World 2020 and all you need to know about them.
Before going to the topic of the day, here are the few commonly asked questions
- What Are The Strongest Currencies?
- What Are The Strongest Currencies In The World?
- What Are The Highest Currencies In The World?
- What Are The Strongest Currencies In Africa?
- What Are The Highest Currencies In Africa 2020?
- What Are The Strongest Currencies In The World 2020?
- What Are The Strongest Currencies In Africa 2020?
- What Are The Strongest Currencies In Asia?
- What Are The Highest Currencies In Asia?
- What Are The Weakest Currencies In The World?
- What Are The Strongest Currencies In Asia 2020?
- What Are The Strongest Currencies In Europe 2020?
We may not be able to answer all of these questions but trust me, we will be answering a reasonable number of it, and others that are not touched have exceptional written about it on this platform already, you could make use of our search button to travel this out.
TOP 10 STRONGEST CURRENCIES IN THE WORLD 2020- ALL YOU NEED TO KNOW
Below is a highlight of the Strongest Currencies in the World so far in 2020.
- Kuwait Dinar
- Bahraini Dinar
- Omani Rial
- Jordanian Dinar
- British Pound
- Caymanian Dollar
- Swiss franc
- United States Dollar
- Canadian Dollar
These currencies are characterized by having a strong economy which keeps strengthening their currency making them be enlisted here. This currency will be compared with the US dollar, the reason being that it is a global currency that is accepted for trade anywhere in the world.
- #1. Kuwait Dinar
- (1 KWD = 3.29 USD)
- Currency Code: KWD
Kuwait, an Arab country located in Asia has the Strongest Currencies in the World on our list. The country is known to be a strong exporter of natural resources particularly natural gas (petroleum) which has enriched the country and boosted its GDP. The currency was introduced in 1961, and it is presently among the Strongest Currencies of the World because of its economic stability and a good level of life; also, there are no taxes in the country, and the state trades with the some of the richest countries in the world like Japan, South Korea, the USA, India, Singapore, the European Union, China, and Saudi Arabia.
- #2. Bahraini Dinar
- (1 BHD = 2.65 USD)
- Currency Code: BHD
Next on our list is the Bahraini Dinar, the official currency of Bahrain, another Arab Country located in the east of Saudi Arabia and the middle of the Arabian Gulf and it’s the 3rd smallest country in Asia. The Like Kuwait, Bahrain is a high exporter of petroleum which contributes to its economic growth making the level of unemployment in the country about 3.8%, and there is almost no agriculture activity in the country. Before the introduction of the Bahraini Dinar in 1965, the Indian rupee was formerly used.
- #3. Omani Rial
- (1 OMR = 2.60 USD)
- Currency Code: OMR
Ranked third on our list of Strongest Currencies in the World is the Omani Rial which is the official and legal tender of Oman republic. The country of Oman is located in Asia, and it’s an Arab country that shares a boundary with, Saudi Arabia, United Arab Emirates, and Yemen. The Omani Rial has been in use since 1977. The country is enjoying the dividend of its strategic location which has helped the country with a developed economy and high life quality. Oman major economic activity is high exportation of petroleum. More so, the country earned a lot due to joining the World Trade Organization.
- #4. Jordanian Dinar
- (1 JOD = 1.41 USD)
- Currency Code: JOD
The Arabic and English speaking nation, Jordan’s currency occupies the fourth spot on our list of Strongest Currencies in the World. The Jordanian Dinar is the official legal currency of Jordan and was introduced in 1949 which has abolished the Palestinian Pound that was formerly used. Jordan economy is centrally on mining and exportation of petroleum as well as depends on international connections due to limited natural resources. Thus far the country has a booming economy due to its government effort to maintain a stable lifestyle in the country making its currency among the Strongest Currencies of the World.
- #5. British Pound
- (1 GBP = 1.26 USD)
- Currency Code: GBP
This will open wide the jaw of many who believe that the British Pound is the Strongest Currency in the World. The British pound is one of the most popular currencies in the world, and as the US dollar, it is often used for international trade as well making it the fourth most traded currency. The British Pounds is the oldest currency in the world, and it is actively used legal tender in the UK and Northern Ireland. The British economy is characterized by Finance and banking, information technology, construction, oil and gas, government, healthcare, manufacturing among others which have contributed to its stable economy leading to its currency been among the strongest currencies in the World. The British pounds has been around since 1725 when the first black note was printed but has since evolved due to significant changes into multi-colored.
- #6. Caymanian Dollar
- (1 KYD = 1.20 USD)
- Currency Code: KYD
The Caymanian Dollar was introduced to replace the Jamaican Dollar that was used previously. It is the official legal tender of Cayman Island. The country has one of the best world tax policy in the world. The country’s tourism sector and financial sectors account for over 75% of the country’s economic growth and have boosted their GDP. The Caymanian Dollar has been in circulation since 1972 and has since then been the official currency of the country.
Cayman Island is located in North America, and it’s a British overseas territory located in the western area of the Caribbean Sea.
- #7. Euro
- (1 EUR = 1.14 USD)
- Currency Code: EUR
Euro is widely used in European Union Countries which comprises of 28 European nations which include Austria, Cyprus, Belgium, Estonia, Finland, Germany, Greece, France, Ireland, Italy, Latvia, Lithuania, Malta, the Netherlands, Luxembourg, Portugal, Slovakia, Spain, and Slovenia. Also, the Euro currency is a popular currency in the world and has strengthened over the past few years making it earn a spot among the Strongest Currencies in the World. The currency is the second reserve world currency encompassing 22.25 of savings in the world. The strength of the currency is owned to the fact that it is the official currency in European countries among which are economically developed countries.
- #8. Swiss franc
- (1 CHF = 1.04 USD)
- Currency Code: CHF
Aside from being one of the richest countries in the world, its currency is among the Strongest of the World. The Swiss franc is strong due to the country’s stable economy and its bank system is known for its resolute “Bank Secrecy.” More so, its high-tech products are very well known all around the world. The Swiss Franc is used in Switzerland and Liechtenstein.
- #9. United States Dollar
- (1 USD = 1.00 USD)
- Currency Code: USD
Ninth on our list of the Strongest Currency in the world is the United States Dollar, the official currency and legal tender of the United States. Also, it is the most popular currency in the world. The currency is also used for international trade and it circulates officially in 11 countries outside the United States including Dollar circulates Ecuador, El Salvador, the Marshall Islands, Micronesia, Palau, and East Timor and used unofficially in 43 other countries. The United States Dollar is considered to be among the Strongest Currencies of the World owing to the country’s stable economy and the country been a world economic leader. The United State dollar is considered as the most traded currency in the world because 64% of transactions performed in the foreign exchange market using dollars.
- #10. Canadian Dollar
- (1 CAD = 0.75 USD)
- Currency Code: CAD
Last on our list is the Canadian Dollar, the official currency of Canada, neighbor to the United States. The Canadian dollar is considered as the fifth largest reserve world currency because of its value in the foreign exchange market and it is divided into 100 cents per dollar. Canadian Dollar was introduced and issued in 1817 and has ever since been the official currency of Canada.
Conclusion On The Top 10 Strongest Currencies In The World 2020- All You Need To Know
Due to the changing economic and political events in the world, it is difficult for some currencies to remain in or make this ranking. Thus, the above-mentioned currencies are the 10 Strongest Currencies in the World 2020. Note that with the turnout of the event, changes may occur in a subsequent review of this article due to the wavering of economic activities in the world. Meanwhile, these are the current countries whose currencies are the strongest. So if you have any questions or contribution you may deploy the use of our comment box or send in your suggestions were our email, our administrators and moderators are available to review every of your contribution.
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