World Currency Strength, the US Dollar is at the bottom of the list, valued at ₹ 83.10. Forbes explains even though it’s the most traded globally.
In the world of global trade, currency is like the life force that keeps economies going. It shows how strong a country’s economy is and how stable it is financially. A powerful currency boosts confidence in a nation’s economy, attracting investments and building international connections. It helps countries withstand economic challenges, making them stronger players in the global business network. There are officially 180 recognized currencies by the United Nations, but just being popular doesn’t determine their actual value or strength.
Understanding currency strength involves a complex dance between supply and demand, influenced by things like interest rates, inflation, and political stability.
A strong currency not only lets a country buy more but also boosts its reputation globally. Investors prefer currencies that are stable, influencing financial markets worldwide.
At the top of the list is the Kuwaiti Dinar, according to Forbes. One Kuwaiti Dinar equals ₹ 270.23 and $3.25. Next is the Bahraini Dinar, valued at ₹ 220.4 and $2.65. Then comes the Omani Rial (Rs 215.84 and $2.60), followed by the Jordanian Dinar (Rs 117.10 and $1.141), Gibraltar Pound (Rs 105.52 and $1.27), British Pound (Rs 105.54 and $1.27), Cayman Island Dollar (Rs 99.76 and $1.20), Swiss Franc (Rs 97.54 and $1.17), and the Euro (Rs 90.80 and $1.09).
Surprisingly, the US Dollar is at the bottom of the list, valued at ₹ 83.10. Forbes explains that even though it’s the most traded globally and is the main reserve currency, it ranks 10th in strength among world currencies.
According to the exchange rate on the International Monetary Fund’s (IMF) website, India is 15th, with a value of 82.9 per US Dollar.
The Kuwaiti Dinar has consistently been the world’s most valuable currency since it started in 1960. This is because Kuwait has a stable economy, thanks to its oil reserves and tax-free system.
Forbes also mentions that the Swiss Franc, used in Switzerland and Liechtenstein, is seen as the most stable currency globally.
This list is based on currency values as of January 10, 2024, with a note that these values can change.
