20 Strongest Currencies in The World 2024

Since 2007, the Kuwaiti dinar has been pegged to the country’s own weighted currency basket. The euro and the U.S. dollar together sit at the top of the world’s major currency pairs, meaning they are the most frequently traded for each other. The US dollar is the national currency of the United States and 16 other countries and territories including Ecuador, El Salvador, Puerto Rico, Zimbabwe, and Panama. The United States dollar is the most widely traded currency in the world, it’s used as a currency peg for many countries’ national currencies, and it’s the world’s largest reserve currency. The Jordanian Dinar is one of the strongest currencies despite Jordan being a resource-poor country. The currency’s strength stems from its competitive, consistent institutional trading fixed exchange rate to the US Dollar and strong financial policies.

US Dollar (USD) – The Most Traded and Held Currency Globally

Instarem has no affiliation or relationship with products or vendors mentioned. For example, if the USD dollar is worth half the Euro, the Euro will be considered stronger. So, it would be easier for someone from France to afford a vacation in the US than a person from the US to afford a vacation in France.

The Cayman Islands dollar

what is the strongest currency in the world

A large part of its economy is also supported by agriculture, as well as fishing and trade along its extensive coastline. Introduced in 1965 as a replacement for the Gulf rupee, the Bahraini dinar is now pegged to the US dollar to attract foreign investments. The FBS online trading academy explains it in the very first lesson. You might be surprised to find the dollar so low on this list; sure, it’s in the top 10, but only barely. The reasons for this are multitudinous and have to do with the sheer size and complexity of the U.S. economy. Bulgarian Lev is the official currency of Bulgaria with a conversion rate of 0.534 against USD.

Currencies of 2025 with the highest values in the world

It is pegged to – and exchangeable with – the British pound sterling at par value. This country’s currency, alongside the currencies of countries such as Libya, Morocco, and Botswana, has in recent history been typically sturdy. While some countries struggle with declining currency values, others have done a great job in strengthening their legal tender. The value of the dollar, like all currencies, rises and falls over time.

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  • The wealthiest countries in the world are Switzerland and the tiny principality of Liechtenstein.
  • When Panama gained independence in 1906 it replaced the Colombian Peso with The Balboa.
  • The Euro was launched on 1 January 1999, and for three years was only used for accounting purposes and electronic payments.
  • The British pound sterling has been in existence since the 15th century and was decimalised in 1971.
  • Below is a table showcasing the top 10 strongest currencies in the world, highlighting their exchange rates as of April 24, 2025.
  • The Omani Rial is pegged to the US Dollar, and Oman’s significant oil exports support its high value.

Political unrest can lead to tumultuous economies and drive away currency traders. In small doses, inflation can be good for currency, as it’s a sign of a robust economy. The offers that appear on this site are from companies that compensate us. But this compensation does not influence the information we publish, or the reviews that you see on this site.

The currency of the United States is a primary reserve currency of the world economy. That means that among the strongest currencies, it is a common standard against which many others are measured. That’s why many of the strongest currencies in the world come from Gulf states whose economies are largely driven by oil exports. British pound sterling is the world’s oldest currency still in use today. The U.S. dollar is also the largest reserve currency in the world (the currency most held by central banks) and is used to price many commodities, including oil, gold, and copper.

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. Created in the 1700s, the dollar is legal tender in the U.S.; its territories, including Puerto Rico; and other sovereign nations, such as Ecuador and Zimbabwe. The euro is the official currency of 20 out of the 27 countries that form the European Union.

While numerous factors influence currency values, consistent economic performance and institutional stability often determine a currency’s global standing. Singapore’s highly developed economy, strategic location for trade, and robust financial services sector underpin the strength of its currency. The Singapore Dollar is considered one of the most stable currencies in Asia.

Top 10 highest-valued currencies in the world in 2025

However, it’s not a member of the Organization of Petroleum Exporting Countries (OPEC). Well, we have tried to provide the most information on the 20 strongest currencies in the world in 2024. AUD ranks fifth in the most traded currency in the forex market which accounts for 6.8% of daily traded volume.

What is the most traded currency in the world?

  • The Jordanian currency was introduced in 1950, just four years after the Hashemite Kingdom of Jordan was established.
  • However, after the 1970 Omani coup d’état, in 1972 the currency was reintroduced as the Omani Rial, and had an equal exchange rate.
  • London’s status as a financial hub and Britain’s extensive trade activities contribute to the pound’s strength.
  • Ultimately, the world of currencies is dynamic, where nations vie for economic supremacy and stability.
  • Most countries have their own distinct currency, though some nations utilize shared currencies.

To determine where GBP is worth the most, you would typically look at exchange rates against other currencies. But remember that exchange rates fluctuate constantly based on factors such as economic conditions, interest rates and geopolitical events. The Jordanian dinar (JOD) is high up the list of the world’s strongest currencies for a combination of reasons. It is an oil and gas exporting nation, but is less dependent on this than some of its neighbours. The British Pound Sterling is the oldest currency still in use, and has been around since the year circa 800.

Understanding the dynamics of currency strength is essential for businesses, investors, and travelers alike, as it directly impacts international trade, investments, and purchasing power. Dollars, so when oil prices rise, countries that rely on oil exports see their currencies strengthen. On the flip side, when oil prices drop, the currencies of these nations can face pressure. However, countries like Kuwait have built up significant financial reserves to help stabilize their currency, even during times of lower oil prices.

The euro is the youngest currency on the list and is the official currency of 20 European countries, comprising over 350 million people. In addition, six non-European Union countries use the euro as their currency by default. It is not pegged to any other currency, but 25 other currencies are pegged to it. In 2019 — the year before the COVID-19 pandemic — the Kingdom of Bahrain hosted ten times more tourists than the country’s entire population. In this article, we look at the top 10 strongest currencies in the world in relation to the US dollar, and the economies that back them.

The Brazilian real has been the central currency since 1994, which it finally settled on after changing currency eight times since 1942. In 1993, the inflation rate hit almost 2,500%, and the real was introduced to stabilise the economy. According to the UN, there are 180 currencies in circulation in the world. Certain currencies are more valuable than others – some significantly more so.

Gibraltar’s thriving financial and tourism sectors also play a role in supporting the currency. Bahrain is a small island nation located in the Persian Gulf, just off the coast of Saudi Arabia. While it is also a major oil producer, Bahrain has developed one of the most diversified economies in the Gulf region. Oman is located on the southeastern coast of the Arabian Peninsula, bordered by the United Arab Emirates and Yemen.

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