Kuwaiti dinar first and US dollar tenth: the 10 most powerful currencies in the world

[yota691]

Kuwaiti dinar first and US dollar tenth: the 10 most powerful currencies in the world

2023-03-09 09:22

 

 

 

Shafaq News/ The American "Forbes" magazine stated that the US dollar is not the strongest currency in the world, but rather the Kuwaiti dinar, and with a big difference between them. 

 

 

 

The American magazine stated that the US dollar is generally seen as the most powerful currency in the world, adding that it is the most traded currency on the world stage, but it is surprising that the "dollar" is not the most powerful paper currency, among the world's 180 legally recognized currencies. all over the world. 

 

He reviewed the report, which was translated by Shafak News Agency. The 10 most powerful currencies in the world, based on their relative value against the US dollar, noting that most currencies are "floating", which means that their value fluctuates according to supply and demand, while some currencies are "correlated", which means that their value is relative to another currency (such as USD) fixed at an agreed rate.

 

The report pointed out that exchange rates affect the cost of goods and services in a foreign currency, but exchange rate fluctuations also create an opportunity for investors looking to make profits through foreign currency trading. 

 

Here are the 10 most powerful currencies:

 

1. The Kuwaiti dinar 

 

The Kuwaiti dinar is the strongest currency in the world, as a Kuwaiti dinar buys 3.26 US dollars (or in other words, 1 US dollar is equivalent to 0.31 Kuwaiti dinars, meaning that every Kuwaiti dinar is equivalent to about 3 dollars). 

 

The report indicated that Kuwait earns much of its wealth from being a leading global exporter of oil, and the Kuwaiti dinar was introduced in the sixties of the last century and was initially pegged to the pound sterling before it was re-linked to a basket of currencies.

 

2. The Bahraini dinar 

 

The Bahraini dinar is the second strongest currency in the world with one Bahraini dinar buying 2.65 US dollars (or one dollar equals 0.38 Bahraini dinars).

 

Bahrain earns much of its wealth from oil and gas exports. The Bahraini dinar was put into circulation in 1965 and is pegged to the US dollar.

 

3. The Omani Rial 

 

The Omani Rial is the third strongest currency in the world with one Rial Omani buying US$2.60 (or one dollar equals 0.38 Omani Rial). As with its other wealthy neighbors, Oman is a major exporter of oil and gas, and the Omani rial was introduced in the 1970s and is pegged to the US dollar.

 

4. The Jordanian dinar 

 

The Jordanian dinar is the fourth strongest currency in the world, with a Jordanian dinar buying 1.41 US dollars (or one dollar equals 0.71 Jordanian dinars).

 

Jordan is less dependent on oil and gas exports than its neighbours, and is suffering from sluggish economic growth and mounting debt. The Jordanian dinar was put into circulation in the year 1950 and is linked to the US dollar.

 

5. Sterling 

 

The British pound is the fifth strongest currency in the world with a British pound buying 1.20 US dollars (or 1 US dollar equals 0.83 British pounds).

 

Britain is the sixth largest country in terms of gross domestic product, according to the World Bank, and the pound was introduced for the first time in the 14th century before its decimal value was broken in 1971. It is a free currency and is not linked to other currencies.

 

6. The Cayman Islands dollar 

 

The Cayman Islands dollar is the sixth strongest common currency in the world, with 1 Cayman Islands dollar buying 1.20 US dollars (or 1 US dollar equals 0.83 Cayman Islands dollars).

 

The Cayman Islands is a British territory in the Caribbean and is an offshore financial centre. The Cayman Islands dollar was first introduced in the 1970s and is pegged to the US dollar.

 

7. Gibraltar pound 

 

The Gibraltar pound is the sixth strongest common currency in the world, with 1 Gibraltar pound buying 1.20 US dollars (or 1 US dollar equals 0.83 Gibraltar pounds).

 

Gibraltar is located in the southern part of Spain and is officially a British territory. The Gibraltar pound was first introduced in the 1920s and is pegged to the British pound (and the Gibraltar pound is equal to one British pound).

 

8. Swiss francs 

 

The Swiss franc is the eighth strongest currency in the world, with one Swiss franc buying 1.07 US dollars (or 1 US dollar equals 0.93 Swiss francs).

 

The Swiss franc is the official legal currency of Switzerland and Liechtenstein and is viewed as a safe haven due to the political stability in Switzerland. The Swiss franc was introduced in the year 1850 and was briefly pegged to the euro before moving into a free float.

 

9. Euro

 

The euro is the ninth strongest currency in the world, with 1 euro buying 1.07 US dollars (or 1 US dollar equals 0.94 euros).

 

The euro is the official currency of the eurozone, which consists of 19 countries out of the 27 countries that are part of the European Union. The physical currency entered circulation in the year 2002 and is floating and free.

 

10. US dollars 

 

The US dollar is the 10th most powerful currency in the world, at exactly 1 to itself. All other currency units around the world are worth less than the US dollar.

 

The conclusion of the report; The US dollar was introduced in the 18th century, and is legal tender in the United States, other American territories, and sovereign nations including Puerto Rico, Ecuador, and Zimbabwe.

 

The United States is the largest economy in the world in terms of gross domestic product. The US dollar is the most traded currency in the world. The US dollar is the largest reserve currency in the world (the currency most often held by central banks) and is the currency used to price many commodities, including Oil, gold and copper.

 

Translation: Shafak News Agency

[yota691]

Top 10 Strongest Currencies In The World In 2023

 

Jo Groves

Forbes Staff

Published: Mar 8, 2023, 12:27pm

 

 

Kevin http://iqd.me/l/11

Editor

 

 

 

 

The US dollar is generally seen as the most powerful currency in the world. And it’s certainly the most-traded currency on the global stage by some margin.

However, perhaps surprisingly, the ‘greenback’ is not the strongest of the 180-odd traditional ‘fiat’ currencies recognised as legal tender worldwide.  

Here’s a look at the top 10 strongest currencies in the world, based on their relative value against the US dollar.

 

 

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How is foreign currency priced?

Foreign currency is traded in pairs, for example, buying US dollars with British pounds. As a result, currency is always priced relative to another currency, known as the ‘exchange rate’.

Most currencies are ‘floating’, meaning their value fluctuates depending on demand and supply. However, some currencies are ‘pegged’, which means their value relative to another currency (such as the US dollar) is fixed at an agreed rate. 

Exchange rates affect the cost of goods and services in a foreign currency. For example, if the pound weakens against the dollar, a holiday in the US would cost more in sterling terms.

However, exchange rate movements also create an opportunity for investors looking to make a profit from trading in foreign exchange. We’ve produced a guide explaining the basics of foreign exchange movements, together with our pick of the best forex brokers.

Note that any form of market-based investment or speculation puts all your capital at risk. Investments can go up and down in value, so you may lose some or all of your money. Leveraged products such as contracts for difference are highly speculative and carry the additional risk of losing money beyond that originally staked.

What are the top 10 strongest currencies?

We’ve analysed the strongest currencies, based on the number of units of foreign currency received in exchange for one US dollar. The exchange rates are sourced from our currency converter, based on data from Open Exchange as at the time of writing.

Here’s the top 10 strongest currencies:

1. Kuwaiti dinar (KWD)

The Kuwaiti dinar is the strongest currency in the world with 1 Kuwaiti dinar buying 3.26 US dollars (or, put another way, US$1 equals 0.31 Kuwaiti dinars).

Kuwait is located between Saudi Arabia and Iraq, earning much of its wealth from being a leading global exporter of oil. The Kuwaiti dinar was introduced in the 1960s and was initially pegged to the British pound before being re-pegged to an undisclosed basket of currencies.

2. Bahraini dinar (BHD)

The Bahraini dinar is the second strongest currency in the world with 1 Bahraini dinar buying 2.65 US dollars (or US$1 equals 0.38 Bahraini dinars).

Bahrain is an island nation in the Persian Gulf off the coast of Saudi Arabia. Like Kuwait, the country earns much of its wealth from oil and gas exports. The Bahraini dinar entered circulation in 1965 and is pegged to the US dollar.

3. Omani rial (OMR)

The Omani rial is the third strongest currency in the world with 1 Omani rial buying 2.60 US dollars (or US$1 equals 0.38 Omani rial).

Oman sits between the United Arab Emirates and Yemen at the tip of the Arabian peninsula. As with its other wealthy neighbours, Oman is a major exporter of oil and gas. The Omani rial was introduced in the 1970s and is pegged to the US dollar.

4. Jordanian dinar (JOD)

The Jordanian dinar is the fourth strongest currency in the world with 1 Jordanian dinar buying 1.41 US dollars (or US$1 equals 0.71 Jordanian dinar).

Jordan is largely land-locked, bordering Egypt, Syria, Iraq and Saudi Arabia. Jordan is less dependent on oil and gas exports than its neighbours and has struggled with sluggish economic growth and rising debt. The Jordanian dinar entered circulation in 1950 and is pegged to the US dollar.

5. British pound (GBP)

The British pound is the fifth strongest currency in the world with 1 British pound buying 1.20 US dollars (or US$1 equals 0.83 British pounds).

Britain is the sixth largest country by Gross Domestic Product (GDP), according to the World Bank. The pound was first introduced in the 1400s before being decimalised in 1971. It is free-floating and thus not pegged to other currencies.

= 6. Cayman Islands dollar (KYD)

The Cayman Islands dollar is the joint sixth strongest currency in the world with 1 Cayman Islands dollar buying 1.20 US dollars (or US$1 equals 0.83 Cayman Islands dollars).

The Cayman Islands is a British territory in the Caribbean and is an offshore financial centre. The Cayman Islands dollar was first introduced in the 1970s and is pegged to the US dollar.

= 6. Gibraltar pound (GIP)

The Gibraltar pound is the joint sixth strongest currency in the world with 1 Gibraltar pound buying 1.20 US dollars (or US$1 equals 0.83 Gibraltar pounds).

Gibraltar is located at the southern tip of Spain and is officially a British territory. The Gibraltar pound was first introduced in the 1920s and is pegged to the British pound (at par, meaning that one GIP equals one GBP).

= 8. Swiss Franc (CHF)

The Swiss franc is the joint eighth strongest currency in the world with 1 Swiss franc buying 1.07 US dollars (or US$1 equals 0.93 Swiss francs).

The Swiss franc is the official legal tender of Switzerland and Liechtenstein and is seen as a safe haven due to Switzerland’s political stability. The Swiss franc was introduced in 1850 and was later briefly pegged to the euro before moving to a free-float.

= 8. euro (EUR)

The euro is the joint eighth strongest currency in the world with 1 euro buying 1.07 US dollars (or US$1 equals 0.94 euros). 

The euro is the official currency of the Eurozone, being 19 out of the 27 countries that form part of the European Union. The physical currency entered circulation in 2002 and is free-floating.

10. US dollar (USD)

The US dollar is the 10th strongest currency in the world, worth exactly 1 against itself. All other units of currency across the globe are worth less than a US dollar.

Created in the 1700s, the US dollar is legal tender in the USA,  other US territories and sovereign nations including Puerto Rico, Ecuador and Zimbabwe. 

The US is the world’s largest economy by GDP and the US dollar is by far the most-traded currency globally. 

The US dollar is also the largest reserve currency in the world (the currency most held by central banks) and is the currency used to price many commodities, including oil, gold and copper.

[6ly410]

Kuwait dinar first and US dollar tenth: the 10 strongest currencies in the world

Kuwait dinar first and American dollar tenth: the 10 strongest currencies in the world - Shafaq News

2023-03-09 07:22

 

 

Shafaq News / The American magazine "Forbes" reported that the US dollar is not the strongest currency in the world, but the Kuwaiti dinar, and a large difference between them.

 

 

The US dollar is generally seen as the strongest currency in the world, adding that it is almost the most traded currency on the world stage, but it is surprising that the "dollar" is not the strongest paper currency, among the world's 180 currencies legally recognized worldwide.

The report, which was translated by Shafaq News Agency, reviewed the 10 most powerful currencies in the world, based on their relative value against the US dollar, noting that most currencies are "floating", which means that their value fluctuates according to supply and demand, while some currencies are "interrelated", which means that their value relative to another currency (such as the US dollar) is fixed at an agreed price.

Exchange rates affect the cost of goods and services in foreign currency, but exchange rate fluctuations also create an opportunity for investors looking to make profits by trading foreign currencies.

Here are the 10 most powerful currencies:

1. Kuwaiti Dinar

The Kuwaiti dinar is the strongest currency in the world where a Kuwaiti dinar buys 3.26 US dollars (in other words, 1 US dollar is equivalent to 0.31 Kuwaiti dinars, which means that each Kuwaiti dinar is equivalent to about 3 dollars).

The report pointed out that Kuwait gains a lot from its wealth from being a leading global exporter of oil, and the Kuwaiti dinar was introduced in the sixties of the last century and initially linked to the pound sterling before being re-pegged to a basket of currencies.

2. Bahraini Dinar

The Bahraini Dinar is the second strongest currency in the world with one Bahraini Dinar buying 2.65 US dollars (or one dollar equals 0.38 Bahraini Dinar).

Bahrain makes much of its fortune from oil and gas exports. The Bahraini dinar was put into circulation in 1965 and is pegged to the US dollar.

3. Omani Rial

The Omani Rial is the third strongest currency in the world with the Omani Rial buying 2.60 US dollars (or one dollar equals 0.38 Omani Rials). As with its other wealthy neighbors, Oman is a major exporter of oil and gas, and the Omani rial was introduced in the seventies and is pegged to the US dollar.

4. Jordanian Dinar

The Jordanian dinar is the fourth strongest currency in the world with a Jordanian dinar buying 1.41 US dollars (or one dollar equals 0.71 Jordanian dinars).

Jordan is less dependent on oil and gas exports than its neighbors and suffers from slowing economic growth and mounting debt. The Jordanian dinar was put into circulation in 1950 and is pegged to the U.S. dollar.

5. Sterling

The British pound is the fifth strongest currency in the world with the British pound buying 1.20 US dollars (or 1 US dollar equals 0.83 British pounds).

Britain is the sixth-largest country in terms of GDP, according to the World Bank, and the pound was first introduced in the 14th century before being broken by a decimal value in 1971. It is a free currency and is not pegged to other currencies.

6. Cayman Islands Dollar

The Cayman Islands dollar is the sixth strongest common currency in the world, with 1 Cayman Islands dollar buying 1.20 US dollars (or 1 US dollar equals 0.83 Cayman Islands dollars).

The Cayman Islands are a British territory of the Caribbean and are an offshore financial centre. The Cayman Islands dollar was first introduced in the seventies and is pegged to the US dollar.

7. Gibraltar Pound

The Gibraltar pound is the sixth strongest common currency in the world, with 1 pound from Gibraltar buying US$1.20 (or US$1 equals US$0.83 Gibraltar).

Gibraltar is located in the southern part of Spain and is officially a British territory. The Gibraltar pound was first introduced in the twenties and is pegged to the pound sterling (and the Gibraltar pound is equal to one pound sterling).

8. CHF

The Swiss franc is the eighth strongest currency in the world, with one Swiss franc buying 1.07 US dollars (or 1 US dollar equals 0.93 Swiss francs).

The Swiss franc is the official legal tender of Switzerland and Liechtenstein and is seen as a safe haven due to Switzerland's political stability. The Swiss franc was introduced in 1850 and then briefly pegged to the euro before moving to free float.

9. Euro

The euro is the ninth strongest currency in the world with 1 euro buying 1.07 USD (or 1 USD equals 0.94 EUR).

The euro is the official currency of the eurozone, consisting of 19 of the 27 countries that are part of the European Union. The physical currency entered circulation in 2002 and is floating and free.

10. USD

The US dollar is the tenth strongest currency in the world, equaling exactly 1 against itself. All other currency units around the world are worth less than the U.S. dollar.

The U.S. dollar was introduced in the 18th century and is legal tender in the United States, other U.S. territories and sovereign states including Puerto Rico, Ecuador and Zimbabwe.

The United States is the world's largest economy by GDP in US dollars and is the most traded currency globally, and the US dollar is the world's largest reserve currency (the currency most held by central banks) and is the currency used to price many commodities, including oil, gold and copper.

Translation: Shafaq News Agency

[keylime]

So this is one of the reasons why I believe the Iraqi Dinar is not coming out at ten cents, or even a dollar. With their sense of pride, there is no way Iraq, who has more oil than Kuwait, and basically tells them even their oil is Iraq's is going to allow their money to be worth less than the Kuwaiti Dinar. And as we see Kuwait gets their value from Oil so will Iraq.

 

$3.35 or so will be the RV/RI in my humble opinion, he says with a big smile.

 

 

[cody406]

$3.35 or so will be the RV/RI in my humble opinion, he says with a big smile.

 

I like your humble opinion...........and optimism.   

If only we could cash out on that.

[Laid Back]

I remembered and old article from the World Bank. “Iraq is ten times richer than Kuwait”

 

Just look to the currency value of the countries surrounding Iraq 🇮🇶 

 

Go Stronger dinar $1+

[tigergorzow]

50 minutes ago, keylime said:

So this is one of the reasons why I believe the Iraqi Dinar is not coming out at ten cents, or even a dollar. With their sense of pride, there is no way Iraq, who has more oil than Kuwait, and basically tells them even their oil is Iraq's is going to allow their money to be worth less than the Kuwaiti Dinar. And as we see Kuwait gets their value from Oil so will Iraq.

 

$3.35 or so will be the RV/RI in my humble opinion, he says with a big smile.

 

 

keylime Thanks,  Keeping hope alive....IMHO totally agree with your analysis...👍👍🙏🙏...GO RV / RI

[keylime]

2 minutes ago, tigergorzow said:

keylime Thanks,  Keeping hope alive....IMHO totally agree with your analysis...👍👍🙏🙏...GO RV / RI

You're welcome. I know gurus like to over sell the RV at 6,7 8 dollars....then some come low at ten cents and site financial reasons.

I think we are dealing with a people who like to keep Kuwait under their thumb, pissed that their currency is number one in the world, and are determined to give them as little as possible in order to overtake them on the world bank scene and financial markets. 

So 3.35 give or take a few cents meets that criteria.

 

[cutter73]

1 hour ago, keylime said:

So this is one of the reasons why I believe the Iraqi Dinar is not coming out at ten cents, or even a dollar. With their sense of pride, there is no way Iraq, who has more oil than Kuwait, and basically tells them even their oil is Iraq's is going to allow their money to be worth less than the Kuwaiti Dinar. And as we see Kuwait gets their value from Oil so will Iraq.

 

$3.35 or so will be the RV/RI in my humble opinion, he says with a big smile.

 

 

Articles also stated back in the day that they wanted to be higher that the US and or close to what Kuwait is.   you are right and hurry the hell up!!! LOL...sorry 😁

[Fairways&Greens]

Love all your thoughts.

 

So much talk about Iraq needing infrastructure, private sector growth, etc.. Well, they aren’t getting any of that with worthless currency.

 

Make the Iraqi people rich and watch as the invisible hand of a free market economy flourishes where government planning and pushing could not. 
 

They need a strong Dinar!!

[Bama Girl]

10 hours ago, Laid Back said:

I remembered and old article from the World Bank. “Iraq is ten times richer than Kuwait”

 

I don’t recall my source but years ago I also read that if Iraq could mine all the minerals and petroleum products underground, they would be richer than Dubai. The problem, imo, is they have so many sects over there that no one wants the other to have anything and all they can do is fight among themselves.
There is no legitimate reason they aren’t years ahead in their development than they are. I understand about Maliki and ISIS but if they could cooperate with each other instead of trying to steal everything, they would be so much farther along than they are. They still have a medieval mentality. 🤨

[rvmydinar]

20 hours ago, keylime said:

$3.35 or so will be the RV/RI in my humble opinion, he says with a big smile.

👍🙏