Money is the order of the day. Folks from the underdeveloped world hanker after the riches and richest in the developed world of Europe, America and Middle-East to pursue the jobs & careers in they are seeking. The strongest economies have some of the most valued currencies in the world. The exchange rate is the key indicator of economic health of a nation. The circulation of money from developed and rich to poor and developing is indispensable and crucially essential for prosperity and peace in the world. The dinar of Gulf and USD are dominating the currency markets of the world. So all the trading in the world only depends on the currency and its value, strongest the currency value means strongest is the economy of the country.
10 Strongest Currencies In The World 2016 – 2017
Here is a list of top ten strongest currencies of the world 2016 – 2017.
10. United States Dollar (1 USD = 1 US Dollar)
The present superpower of the world is The United States of America due to the advancement in its tech and economy, the American dollar is the using currency in the state. There are many abbreviations of the US Dollar such as $, US$ and USD. 100 cents combine to form a single dollar that states that it has 100 smaller units. The US dollar has the honor to of mostly use currency in the international trading and transactions. The Central Bank ‘Federal Reserve System’ announced its currency notes as $1, $5, $10, $20, $50 and $100 while sometimes banknote of $2 also used.
9. Switzerland Franc (1 Franc = 1.05 US Dollar)
Switzerland and Liechtenstein have an official currency of Swiss Franc that is available in notes as well as coins issued by the Swiss National Bank. The legal symbol to represent Swiss Franc is CHF while the previous one was SFr and is available in 5, 10 & 20 centimes and 1/2, 1, 2 & 5 francs as coins. In the list of top ten strongest currencies in the world, Franc is ranked number nine relating its value compared to other currencies in the world. In terms of per capita, Switzerland was declared as the world’s richest country in the year 2011.
8. European Euro (1 € = 1.13 US Dollar)
Nineteen of the twenty-eight European countries like Belgium, Spain, Germany, Netherlands, Austria and remaining others hold the currency of the euro. For the usage of the euro, it is available in notes and coins also and has given the official name euro in 1995. The bank notes are available in the values of €5, €10, €20, €50, €100, €200 and €500 while in coins the currency is available in 1c, 2c, 5c, 10c, 20c, 50c, €1 and €2 respectively. If we resemble its value to the United States dollar than it is equivalent to 1.13 US Dollar while the biggest currency note of euro is equivalent to 566.05 dollar. Depends on its currency value it is placed on number eight on the list of strongest currencies in the world.
7. Cayman Islands Dollar (1 CI$ = 1.22 US Dollar)
The Cayman Islands is the member of United Kingdom has an official currency Cayman Islands Dollar that was introduced in 1972 replacing the old one Jamaican dollar. The symbol to represent Island’s dollar is KYD and the abbreviation to denote Cayman dollar is CI$ while sometimes it is also denoted by sign $. One CI$ have value equal to 1.22 USD so in the list it is rank on number seven. 1 dollar further divided into hundred cents. The central bank ‘Cayman Islands Monetary’ declared its banknotes as 1, 5, 10, 25, 50 & 100 dollars, and the coins as 1, 5, 10 and 25 cents respectively.
6. Jordanian Dinar (1 JOD = 1.41 US Dollar)
Jordan an Arabic country officially holding the currency known as dinar that symbolically represented as JOD. The currency of Jordan was also once used in West Bank with the currency of Israel and maintain its stability in the different era. Central Bank of Jordan declared the banknotes of Jordanian Dinar as 1, 5, 10, 15, 20 and 50. The bank also declared the currency in coins as ½, one qirsh, 2½, 5, ten piasters, ¼, ½ and 1 dinar. Compared with the United States dollar one JOD is equal to 1.41 USD due to which placed on number six in the list of powerful currencies in the world.
5. UK Pound Sterling & Gibraltar Pound (1 GBP = 1.54 US Dollar)
The United Kingdom’s of the nine territories officially use currency that pronounced as the pound sterling or sometimes simply as pound; its nickname is Quid. UK pound fixed with Falkland Islands pound (at par), Gibraltar pound (at par), Saint Helena pound (at par), Jersey pound (local issue) and four others. The symbolic representation of the pound is GBP and 1 GBP is equivalent to 1.54 United States dollar.
The Bank of England announces the official currency notes like £5, £10, £20 and £50 that frequently use in the country while £1 and £100 are also currency notes of UK, but they are rarely using. Similarly bank also issued coins with currency value of 1 penny, 2 penny, 5 penny, 10 penny, 20 penny, 50 penny, £1 and £2 that frequently used and the rarely used coins are 3 penny, 4 penny, 25 penny, £5, £20, £500 (Silver Kilo) and £1,000 (Gold Kilo). The most interesting fact of the UK pound is that it considered as one of the eldest currencies in the world.
4. Latvian Lats and the EURO (1 LVL = 1.61 US Dollar)
On January 1st, 2014 the currency of Latvia was declared as euro but before this the country’s currency was the lats since 1922. Symbolically it is abbreviated as LVL while the denotation of the currency is Ls and 1 LVL is equivalent to 1.61 USD. In ranking of top ten most expensive currencies in the world Latvian Lats is place in number four position due to the strong value of its currency.
3. Omani Rial (1 OMR = 2.60 US Dollar)
Oman is an Arabic country and the currency currently use in the Oman is Omani Rial that officially announced in 1970. One rial of Oman pegged with 2.6008 United States dollars. The Central Bank of Oman officially introduces the banknotes of 100 baisa, 200 baisa, ½ rials, 1 rials, 5 rials, 10 rials, 20 rials and 50 rials. Also, the coins announce by the bank are 5, 10, 25, 50 baisa that used commonly in the country. Due to the strong currency value the Omani Rial placed on number three on the list of the strongest currency in the world.
2. Bahraini Dinar (1 BHD 2.65 US Dollar)
Bahrain is a small island country located nearby the western shorelines of the Persian Gulf; the official currency of the country is dinar. One thousand fils join to make a single dinar that also represents the strengthen value of a dinar as listed on number two in the powerful currencies list. One Bahraini Dinar is equivalent to 2.65 United States dollar. After the declaration from the Central Bank of Bahrain the banknotes use in the country are BD ½, BD 1, BD 5, BD 10 and BD 20. Similarly the coins are ½ BD, 5 BD, 10 BD, 25 BD, 50 BD and 100 BD.
1. Kuwaiti Dinar (1 KWD = 3.38 US Dollar)
Here is the leading and beating the currency all over the world that is Kuwaiti Dinar from Kuwait, Kuwait is an Arabic country have country boarders with Saudi Arabia and Iraq. Symbolically the Kuwaiti Dinar is represented as KWD or K.D. The Central Bank of Kuwait issues the banknotes of 1⁄4 dinar, 1⁄2, 1, 5, 10 and 20 dinars while coins with values of 5 fils, 10 fils, 20 fils, 50 fils and 100 fils. Resembling with United State dollar the value of 1 Kuwaiti Dinars is equal to 3.38 USD. The negotiations are in progress with the other five Gulf Arab countries to peg the currency.