The dollar is the official currency of the United States and a number of other nations. It is the primary reserve currency and is kept by the majority of central banks and corporations worldwide. Due to its widespread use, the US dollar accounts for approximately 88.3 percent of daily foreign exchange market transactions.

#3: Omani Rial (OMR):  $2.60 USD = 1 OMR

Lacking critical resources such as oil, the country is not economically developed. Due to its substantial external debt, Jordan is largely dependent on its neighbors and the IMF. The currency was initially only available digitally in the form of traveler's cheques and electronic bank transfers. It wasn't until a few years later, in 2002, that real notes and coins were introduced. The majority of the country's earnings come from tourism and agriculture.

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The Kuwaiti Dinar is widely recognized as the most valuable currency in the world. The Kuwaiti Dinar, abbreviated KWD, is commonly used in the Middle East for oil-related transactions. As of May 2021, the Kuwaiti Dinar is the strongest currency in circulation, with one Dinar equaling 3.32 USD. The Oman Rial follows the Bahrain Dinar as the third-highest or strongest currency in the world, and OMR is its currency code. As the two most-traded currencies on the planet, the US Dollar and the Euro are always highly ranked. Typically, it is advantageous for a country's currency to be supported by valuable oil reserves and a stringent monetary policy.

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The Bulgarian lev was introduced as Bulgaria’s currency in 1881 with a value equal to the French franc. Since joining the EU in 2007, Bulgaria is aiming to adopt the Euro as their official currency by 2025. The Fijian dollar has been in circulation since 1967, and was also briefly the currency for the country from 1867 to 1873, until it was replaced by the Fijian pound. When the dollar was introduced, the name ‘dollar’ was picked over pound as it more closely represented the value of the US dollar. As of 2023, here is a list of the top 20 strongest currencies in the world.

#7: Euro (EUR):  $1.12 USD = 1 EUR

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  • Known as the strongest currency in the world, the Kuwaiti dinar or KWD was introduced in 1960 and was initially equivalent to one pound sterling.
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  • In 1992, the UK government was forced to withdraw the pound from the European Exchange Rate Mechanism (ERM).
  • As the world's 6th strongest currency, it is significant in global finance.

This is hardly surprising, however, given that Switzerland is one of the world's most stable and prosperous nations. Along with the USD and JPY, it functions as a safe-haven currency for investors during times of economic uncertainty. The second most powerful money in the world is the Bahrain dinar or BHD. Like most Arabic currencies on this list, it is divided into 1000 smaller units, in this case, called ‘fils’. The Bahraini dinar is only used in Bahrain and is pegged against the US dollar.

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Despite being at the bottom of this list, CAD is the sixth most traded and fifth-most reserved currency globally. Jordanian Dinarhold the fourth spot on the list of most valued currencies globally. Despite having such a high value of its currency, the country is not mainly developed. Rather than petroleum-based exports like the top 3 countries, Jordan’s economy is small and well-diversified. Ranging from trade and finance to manufacturing and mining, there are plenty of reasons why the Jordanian Dinar is one of the strongest currencies in the world.

But the islands' official currency, the Cayman Islands dollar, is also one of the strongest currencies in the world. Jordan's economy faces major challenges from limited water resources, a total reliance on imported oil, and unrest in the surrounding area. It was intended for the Jordanian dinar to be linked to the dollar in order to encourage US investment in Jordan through a stable exchange rate.

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However, Jordan is home to world-famous tourist sites and is generally seen as a stable country in a region of the world often known for unrest. You may not deal with every currency on this list every day, but as communication and trading technology improves, anyone can invest in some of the world’s most tradeable and expensive currencies. Most investors view the Swiss franc (CHF), which is one of the safe-haven assets, the most stable currency in the world. This is because Switzerland is a neutral country with sound monetary policy, low levels of debt, and a neutral foreign policy.

Although we are not specifically prevented from dealing before providing this material, we do not seek to take advantage of the material prior to its dissemination. The Gibraltar pound or GIP is the national currency of Gibraltar and is exchangeable with the British pound sterling at face value. The Swiss franc is also the 7th most traded in the world, gaining its popularity as a safe bet when trading or storing money, due to its strict monetary policies and low debt levels. Starting off the list, the national currency of Bulgaria is known as the Bulgarian lev or BGN in its abbreviated form. In particular, the country's economy is known for its mining, agriculture, and tourism services. To see whether you could make money from spread betting or trading CFDs, you could try out our risk-free demo account, which envelope indicator allows you to practise first using £10,000 of virtual funds.

Unlike other Gulf Cooperation Council (GCC) countries, the currency is not pegged to the US dollar alone, but an undisclosed basket of international currencies. While the exact weighting of the US dollar is not known, it is assumed that it is high due to Kuwait´s dependence on oil (which is priced in USD). The KWD is subdivided into 1000 fils, a common coin in several Arab nations.

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  • We all know about dollars, euros, and pounds, but what is the most expensive currency in the world?
  • Fiji has one of the most advanced economies among the Pacific islands.

A comprehensive analysis of various local and international factors is necessary to ascertain whether a currency holds the title of the most valuable or expensive in the world. Due to Canada's legal and political stability, the Canadian dollar or CAD is one of the most attractive currencies for central banks to retain in their foreign exchange reserves. In addition, CAD is a popular alternative in forex trading, accounting for around 5% of daily transactions on the worldwide foreign exchange market. The US dollar belongs to the United States and several other countries. It is the world’s primary reserve currency and is held by most central banks and commercial banks globally. Because of its widespread adoption, the US dollar also accounts for around 88.3% of daily trades in the foreign exchange market.

Read more about trading our US dollar index​, which is a basket of forex pairs with the USD as the base tender. The currency’s purchasing power is so high that the country issues half OMR and 1/4th OMR banknotes. Apart from having Cci indicator a very stable economy, Kuwait has almost no taxes and a meagre unemployment rate. The value of your currency reflects the strength and stability of your nation.

The US dollar has a dominant role in international trade and finance. It is held as a reserve currency and is widely used in international transactions. Countries that decide to peg their currency often use the US dollar as the anchor currency.

It is one of the world's major reserve currencies and is the second most widely held reserve currency after the US dollar. The euro was introduced on January 1, 1999, and became the official currency for electronic transactions. Euro banknotes and coins were later introduced on January 1, 2002, replacing the national currencies of the participating countries. A robust economy fosters low unemployment and ensures a prominent position in currency trading on the banking and exchange markets.

The US dollar banknotes are printed as $1, $5, $10, $20, $50, and $100. US coins come in denominations of 1 cent (penny), 5 cents (nickel), 10 cents (dime), 25 cents (quarter), and 50 cents (half dollar). The Gibraltar pound is divided into 100 smaller units called "pence". The Government of Gibraltar and the Gibraltar Monetary Authority issue banknotes in denominations of £5, £10, £20, £50, and £100. The banknotes have designs unique to Gibraltar, featuring local landmarks and symbols. The Bank of England issues banknotes in different denominations, such as £5, £10, £20, and £50.