Saudi Arabia has announced that it is considering taking the Chinnese Yuan for payment for oil.
Biden has lost all economic control the US had world wide. Dollars will no longer be in demand. Demand that has given the dollar unbeatable value.
Saudi Arabia will not even return calls from Biden. Cite your source.
If Saudi Arabia starts to accept Chinese Yuan, then we have lost, our curency becomes worthless world wide. Inflation will become staggering, our economic standing will tank, our debt will crush us!
China is arguably the worlds largest economy, so why shouldn't a trading partner use China's currency?
The US dollar is the world's reserve currency and that brings disadvantages as well as advantages.
Stop wetting your pants. Replacing the dollar as the world's reserve currency doesn't make " our curency becomes worthless world wide." Any of the other 9 currencies listed below work well, even if they are not US dollars.
By Matt McIntyre
We all like to get the most out of our money, even if it’s just a few extra cents on the dollar.
With that said, we’ve put together a list of some of the worlds strongest currencies, so you can think about getting a little extra buying power when travelling abroad.
If you think GBP or USD is the strongest currency in the world, then think again!
Here’s a list we put together of the 10 strongest currencies in the world:
The 10 Strongest Currencies In The World
The list of currencies and figures mentioned below have been compiled from various sources around the web, such as FXSSI, Currency Kart & Highest Currency.
These are the 10 strongest currencies in the world:
10. US Dollar
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Kicking off our list of the strongest currencies in the world is the US dollar.
It’s the currency of the United States of America and is the most traded and used currency in the world.
It also holds the title of the worlds primary reserve currency and is held by both central and commercial banks all over the world.
Depending on your currency, it’s not the best time to convert some of your cash into dollars, however, it’s well worth keeping an eye on how it performs, as it doesn’t look like it’s going anywhere soon!
9. Swiss Franc – (1 CHF = 1.01 USD)
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Next on the list, we have the Swiss Franc, which is the official currency of Switzerland and Liechtenstein!
At roughly 1.01 USD for each CHF, it’s currently not the best conversion rate to USD on the list, however, the Swiss Franc still comes in at number nine for good reason.
Switzerland is one of the wealthiest countries in the world and has a solid track record in banking and finance.
Having some of the worlds strictest monetary policies and lowest debt levels has drawn many an investor to view the Swiss Franc as a “Safe Bet”, choosing to store some of their wealth in the official currency of Switzerland.
Related: The 20 Richest NFL Players in the World
Also known for being the sixth most traded currency in the world, the Swiss Franc is expected to retain its value in the foreseeable future!
8. Euro (1 Euro = 1.10 USD)
The EURO is the primary currency of the European Union and was adopted on January 1, 1999.
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It holds the title as the second world reserve currency and is the official currency of 19 of the 28 member countries in the EU.
The currency first began virtually, in the form of traveller cheques and electronic bank transfers, and physical notes and coins appeared a few years later in 2002.
The introduction of the EURO was meant to increase the economic interdependency of trade between all EU member that choose to adopt it.
One EURO is approximately equivalent to 1.10 USD at the time of writing.
7. Cayman Islands Dollar – (1 KYD = 1.20 USD)
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The next strongest currency in the world is the Cayman Islands Dollar.
The Cayman Islands are a British Territory located in the Caribbean and are well known for being one of the worlds best tax havens.
They provide banking licenses for a number of the worlds biggest banks, hedge funds and insurance companies.
The KYD was introduced in 1972 as a replacement for Jamaican Dollars and has gone on to become one of the worlds strongest currencies.
6. Gibraltar Pound – (1 GIP= 1.23 USD)
The Gibraltar pound is the official currency of Gibraltar.
As well as being used on its own, it’s also able to be exchanged with the British Pound at par value and, aesthetically, looks very similar.
All notes and coins of the Gibraltar Pound are printed by the Government of Gibraltar.
The most common Gibraltar exchange rate is the GIP to Euro rate.
5. Pound Stirling – (1 GBP = 1.26 USD)
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Coming in at number five on our list of the strongest currencies in the world is the Pound Stirling, the official currency of the United Kingdom.
Related: The Top 10 Richest People in Australia
The Pound Stirling is often perceived as being the strongest currency in the world, however, that’s not the case, as it falls short to four Arabian currencies.
With the United Kingdom deciding to leave the EU, this has had a negative effect on the Pounds value.
It’s one of the most widely used currencies and the oldest independent currency in the world, being first used in the United Kingdom in 1489.
At the moment, 1 GBP can be exchanged for 1.26 USD.
4. Jordanian Dinar – (1 JOD = 1.41 USD)
The Jordanian Dinar, JOD, is the official currency of Jordan, an Arabic nation on the bank of the river Jordan.
Introduced in 1949, replacing the Palestinian pound, the Jordanian Dinar has been pegged by the United States Dollar for the past 2o years.
This has helped it to become one of the strongest currencies in the world.
However, despite its status, the Jordanian Dinar is still only used in Jordon and nowhere else in the world.
One JOD is currently valued at 1.41 USD.
3. Omani Rial – (1 OMR = 2.60 USD)
The Omani Rial is the third strongest currency on our list.
This Arabian currency was first introduced in 1973 and has seen a significant rise in value due to the success of the countries oil supply and being pegged to the U.S Dollar.
It’s the official currency of the Sultanate of Oman and is the third-highest status currency in the world.
The purchasing power of this currency is so high, that the government has to introduce 1/4 and 1/2 Rial banknotes.
As of 2019, 1 OMR is equivalent to 2.60 USD.
2. Bahraini Dinar – (1 BHD = 2.65 USD)
In second place, we have the Bahraini Dinar, which is the official currency of Bahrain and first introduced in 1965.
Bahrain is a PersianGulf Island State, populated by just over 1 million people.
Most of the expats in Bahrain are Indian, which makes the BHD to INR the most common.
Related: The 15 Most Expensive Hot Wheels Cars
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The majority of the countries wealth comes from exporting its petroleum products.
Similar to the Jordanian Dinar, the Bahraini Dinar is only used in Bahrain and is pegged by the U.S. dollar.
1. Kuwaiti Dinar – (1 KWD = 3.29 USD)
The worlds strongest currency is the Kuwaiti Dinar.
It is the highest valued currency against the United States Dollar.
Located on the tip of the Persian Gulf, between Iraq and Saudi Arabia, Kuwait’s wealth can be attributed to its heavy exports of oil to a global market.
It was first introduced in 1961 after gaining its independence from the United Kingdom and has since gone on to become the most valuable currency in the world.
Over the years, the Kuwaiti Dinar has been pegged to a number of different currencies. Most recently, it was pegged to the U.S. dollar from 2003 to 2007.
More recently, it has been pegged to an unnamed basket, valued at 1 KWD to 3.29 USD.
Summary
We hope you enjoyed our list of the 10 strongest currencies in the world.
Using this to knowledge to start a business or cater to these countries with a service-based business could be very advantageous for you.
Try looking for opportunities in the countries with the strongest currencies and see what business opportunities there might be.
After all, your money will go a lot further in the countries with the strongest currencies.
Here’s a quick recap of the 10 strongest currencies in the world:
Kuwaiti Dinar – (1 KWD = 3.29 USD)
Bahraini Dinar – (1 BHD = 2.65 USD)
Omani Rial – (1 OMR = 2.60 USD)
Jordanian Dinar – (1 JOD = 1.41 USD)
Pound Stirling – (1 GBP = 1.26 USD)
Gibraltar Pound – (1 GIP = 1.23 USD)
Cayman Islands Dollar – (1 KYD = 1.20 USD)
Euro – (1 EURO = 1.10 USD)
Swiss Franc – (1 CHF = 1.01 USD)
US Dollar
Does your country’s currency rank on this list? Leave a comment below.
Matt McIntyre
Matt McIntyre is a digital marketing consultant and certified marketing strategist. When he's not talking about business or marketing, you'll find him in the gym.
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+2/-0 TheCrow 3/15/2022 2:52:54 PM