Top 10 strongest currencies in the world (2024)

The US Dollar is arguably the most popular currency in the world and also the most-traded currency on the global market, as of today, the US dollar is not the strongest of the 180 traditional “fiat” currencies recognized as legal tender worldwide.

According to Forbes Advisor as of June 2024, the top 10 strongest currencies are listed below;

1. Kuwaiti Dinar (KWD)

The Kuwaiti dinar is the strongest currency in the world with 1 Kuwaiti dinar buying 3.25 U.S. dollars. Kuwait is located between Saudi Arabia and Iraq, earning much of its wealth from being a leading global exporter of oil.

2. Bahraini Dinar (BHD)

The Bahraini Dinar holds the second spot, with 1 BHD equaling approximately 2.65 USD. Bahrain’s economy benefits from its position as a financial hub in the Persian Gulf, as well as its oil and gas reserves.

3. Omani Rial

The Omani Rial is another powerful currency in the Middle East, with 1 OMR being equivalent to about 2.60 USD. Oman’s economy is diversified beyond oil, with a growing tourism and manufacturing sector.

4. Jordanian Dinar

The Jordanian Dinar is strong, with 1 JOD exchanging for roughly 1.41 USD. Despite limited natural resources, Jordan’s economy is stable, supported by foreign aid and a growing services sector.

5. British Pounds

The British Pound Sterling remains one of the world’s strongest currencies, with 1 GBP worth about 1.30 USD. The UK’s economy is one of the largest in the world, with a diverse range of industries and a significant financial services sector.

6. Cayman Island Dollar

The Cayman Islands Dollar is tied with the US dollar at a fixed exchange rate of 1 KYD to 1.20 USD. The Cayman Islands’ economy is robust, driven by its status as a leading international financial center.

7. Gibraltar Pounds

The Gibraltar pound is the joint sixth strongest currency in the world with 1 Gibraltar pound buying 1.26 U.S. dollars. Gibraltar is located at the southern tip of Spain and is officially a British territory.

8. Swiss Franc

The Swiss Franc is valued at approximately 1.07 USD, making it one of the strongest currencies globally. Switzerland’s economic stability, low inflation, and renowned financial sector contribute to the strength of the Franc.

9. Euro

The Euro, used by 19 countries in the European Union, is a major global currency, with 1 EUR trading at around 1.08 USD. The economic strength of the Eurozone, along with its political unity, supports the Euro’s value.

10. US Dollar

While not the strongest in terms of exchange rate, the US dollar is the world’s primary reserve currency and is widely accepted in international transactions. Its value is closely watched and influences global economic trends.

These currencies reflect the economic power and stability of their respective countries. However, it’s important to note that currency values can change rapidly due to market forces, and the rankings may shift over time.

Always check the latest exchange rates and economic indicators for the most current information.