There are about 196 countries in the world, including Taiwan. Most of these countries have their unique currencies. The value of a country’s currency depicts its buying power in the market. Most of us wrongly assume that the U.S. Dollar is the strongest currency by value. But, the truth is that the U.S. Dollar does not even stand in the Top Ten Strongest Currencies. The value of a country’s currency is determined by many internal and external factors. Here is a list of Top Ten Strongest Currencies by Their value-
10. Swiss Franc
Also one of the richest countries in the world, Switzerland’s Swiss Franc is one of the 10th strongest currencies in the world today. Standing at a value of $1.069 US Dollars, the code of the Swiss Franc is CHF. A country with the highest wealth per adult, Switzerland has a note of a 100o Swiss Franc that is equal to 1069 US Dollars.
9. Cayman Islands Dollar
Strongest currencies in the world include the Cayman Islands Dollar as well. Cayman Islands include 3 vital islands between Jamaica and Cuba. The Cayman Islands are a hot financial center. At a value of $1.22, the Cayman Islands dollar has a code of KYD. Largest Cayman Island Dollar not is of denomination 100 which equals 120 US Dollars.
8. Azerbaijan Manat
The Azerbaijan Manat is the 8th strongest currency in the world. Valued at $1.274, the code of the Azerbaijan Manat is AZN. The largest note available in the Azerbaijan Manat is of denomination 100 and it equals 127 U.S. Dollars. Located on the Western Asia, Azerbaijan is blessed with huge gas and oil reserves. In the Caucuses region, Azerbaijan is the largest country.
7. European Union Euro
The European union consists of 28 states, of which 17 officially use Euro as their currency. At a value of $1.321 per European union euro, the Euro is one of the strongest currencies in the world. The largest note available is of denomination 500, which equal 660 US Dollar. The code of the European Union Euro is EUR.
6. Jordanian Dinar
At a value of 1.414 per Dinar, the Jordanian Dinar is the 6th strongest currency in the world. The 3rd most open economy in North Africa, the European union grants a special recognition to the Jordan economy. The code of the Jordanian Dinar is JOD. Whereas, the country Jordan’s full name is Hashemite Kingdom of Jordan. The highest denomination of notes available in the Jordanian Dinar is of 50 Dinars which equal 70. .72 US Dollars.
5. British Pound
The British Pound is the official currency of United Kingdom, Jersey, Guernsey, the Isle of Man, South Georgia and the South Sandwich Islands, the British Antarctic Territory, and Tristan da Cunha. Valued at U.S. $1.555 per one British Pound, the British Pound is the 5th strongest currencies in the world. Its code is GBP and the largest note available is 100 GBP which equals 135 US Dollars. Currently, the British pound is a fiat money (it is backed only in the country where it is accepted).
4. Latvian Lats (defunct)
Till January 2014, Latvian Lats was the currency of Latvia. Currently, Euro is the official currency of Latvia. Valued at 1.886 US Dollars for one Lats, the code of the Latvian Lats is LVL. The largest denomination available was a note of LVL 500 which equaled $943.It is another highly most expensive and strongest currencies in the world. Their circulation period enede don 14 January 2014 and now Euro is the official currency of the Republic of Latvia.
3. Omani rial
The Omani Rial is the official currency of Oman. Valued at US $2.6 per denomination, the Omani Rial is the 3th strongest currencies in the world. Its code is OMR and the largest note available is 50 that equals 130 US Dollar. One of the most enriched Arab Country, Oman has a rich reserve of agriculture and fishery along with oil and gas.
2. Bahrain Dinar
The official currency of Bahrain, the Bahrain Dinar, is the of the 2nd most strongest currencies in the world. Bahrain was the first country to discover oil among the Arab countries. At a value of 2.652 US Dollars per Dinar, the code of the Bahrain Dinar is BHD. The largest note available is of 20 BHD which equals 53 US Dollars. After Malta opted for Euro as its official currency, the Bahrain Dinar became the 2nd strongest currency in the world.
1. Kuwaiti Dinar
At a value of 2.847 US Dollar per denomination, the Kuwaiti Dinar is one of the top strongest currencies in the world by its value. Subdivided into 1000 fils, the largest note available is of KWD 20 which equals 70 US Dollars. Having the fifth largest oil reserve, Kuwait is one of the richest countries in the world. A little country located in the Arabian Peninsula, Kuwait has the highest valued currency in the world. Ranked as the 7th richest country in the world by some sources, most of Kuwait’s revenues come from selling oil and gas. New Kuwaiti Dinar notes are all set to be issued in June 2014.