Kuwaiti Dinar is the strongest, most powerful currency in the world as of October 2021. The State of Kuwait is a country in west Asia that is located along the northern edge of east Arabia near the top of the Persian Gulf, sandwiched between Iran and Saudi Arabia. The currency has been pegged to a number of currencies around the globe, but those exact currencies and values have never been disclosed. Today, 1 KWD equals 3.32 USD.

As of October 2021, Bahraini Dinar is the second strongest currency in the world. Bahrain is a country in Arabian Gulf that is rich in oil and it was the first country that discovered it’s oil reserves.  That is majorly why the Bahraini economy is heavily reliant on the export of petroleum products. Interesting to note also is that the Saudi Riyal is also widely used and is legal tender in Bahrain along with Bahraini Dinar. The exchange rate of Saudi Riyal and Bahraini Dinar is fixed at 1 Dinar and is equal to 10 Saudi Riyal.

Omani Rial is the third strongest currency in the world. The currency’s value is nearly double the value of the British Pound, and in relation to the value of the US Dollar, the currency is 2.60 times higher. The currency is pegged to the US dollar since 1973. It must be noted that purchasing power of Omani Rial is insanely high, that is why the Omani government has to occasionally issue banknotes of half Omani Rial and one-fourth Omani Rial. Before 1970 Oman has been using Indian rupees as its official currency.

It’s hard to explain the high value of the Jordanian Dinar. This country is not economically developed and does not have important resources such as oil. But still, a Jordanian dinar costs $ 1.41, making it one of the top 10 currencies in the world. Jordanian Dinar is tied, pegged or fixed to the USD. The Jordan economy is classified under ’emerging market economy’. As of 2019, the country had a GDP of $43.70 bn, thus, making it the 89th worldwide.

Most people consider the pound sterling the strongest currency in the world but it is the 5th on the list. British colonies issue their own banknotes, which are visually different from Bank of England banknotes and still valued at a 1 to 1 exchange rate. That’s why there are quite a few: the pound of Scotland, Northern Ireland, Manx, Jersey, Guernsey, Gibraltar, St. Helena Island and the Falkland Islands. Amusingly enough native Britans do not always accept “other” pounds as a means of payment.

The Cayman Islands Dollar also makes it to the list of the top 10 strongest currencies in the world as the 6th strongest currency worldwide. The Cayman Islands is a British Overseas country located in the West Caribbean sea that governs itself. It consists of three Islands, Cayman Brac, Grand Cayman and Little Cayman. These Islands are among the world’s best when it comes to tax. They have provided licenses for numerous hedge funds, banks and insurance companies.

The value of the Cayman Island Dollar in the United States Dollar is determined by the governor. This is according to section 22 of the 2013 Revision of the Monetary Authority Law. Today, thanks to Cayman Island’s leadership, one Cayman Islands Dollar is approximately 1.22 US dollars; thus, putting the currency on the list of the top strongest currencies globally.

The EURO was approved as the European Union’s principal currency on January 1, 1999. It is the 7^th strongest currency worldwide. It is the world’s second most influencial currency, ( after US dollar) and the official currency of 19 of the EU’s 28 member countries. In addition, this currency has the strongest currency exchange rate in the globe. If you look attentively, you’ll notice that this currency has been strengthening over the last few years, which is why it has such a foothold in the world market. As a lot of countries are members of this union, it is functional throughout the vast majority of European countries. Also, it is counted in the list of the strongest currency in the world in 2019, 2020 and 2021.

The Swiss Franc is another currency that has high value.  Switzerland has a stable economy and happens to be one of the richest countries in the world. An outlier on this list, the franc did not achieve this placement because of popular exports. Instead, the stability and wealth of Switzerland make it a popular reserve currency. No matter what disasters befall the world, the Swiss Franc is likely to be unaffected, and thus there is a high demand for it.

Almost every reader would have been scanning through to see where the US dollar falls in this list.  The U.S. Dollar is simultaneously the world’s most traded currency and makes up most federal reserves around the globe. Because the United States is seen as the world’s economic leader and  its currency has gotten the title of the ‘World Reserve Currency’. It’s number nine on this list due to the amount of countries and people eager to trade and hold onto the Dollar.

Canada’s official currency, colloquially known as the Loonie, is the sixth most traded currency on forex markets. Its value is derived from the country’s wealth of natural resources including crude oil and uranium. However, its value is heavily dependent on the U.S. Dollar, as most of the country’s trade is done with its downstairs neighbor.