Kuwaiti Dinar (KWD)
The Kuwaiti dinar (KWD) with the highest value against the US dollar takes the top spot in this ranking. Kuwait’s booming economy supports the currency. A large-scale oil production in the country is the reason for its growth. The Kuwaiti dinar is pegged to the US dollar. It is worth $3.65. Moreover, the currency is stable. The Kuwaiti dinar is mostly converted to the Indian rupee in the financial market.
Bahraini dinar (BHD)
The Bahraini dinar (BHD) is the world’s second strongest currency. Experts consider it one of the most secured means of payment. Earlier, 1 BHD was converted into US dollars at the rate of $2.65. An index of economic freedom, the highest in the Middle East and North Africa, is significant for Bahrain’s economy. The currency is stable due to the financial well-being of the country. It is ranked tenth among the world's free economies.
US dollar (USD)
The US dollar is the world’s third most stable and valuable currency. 85% of trades in global financial markets are carried out with it. Apart from the US, the greenback is used as a national currency in other states, El Salvador in particular. The dollar has been a reserve currency in most countries for a long time. Moreover, the USD is used on a par with national currencies in some of them. Earlier, the US authorities promoted the widespread use of the dollar ensuring its stability. However, the greenback has been put at risk of de-dollarization recently. According to experts, the implementation of such a scenario will lead to the collapse of the global financial system.
Australian dollar (AUD)
The Australian dollar takes fourth position in the rating. Apart from Australia, the aussie is used in the independent island nations of Kiribati, Nauru, and Tuvalu. The Australian dollar has been one of the world’s most traded currencies, ranking fourth and fifth in terms of stability. Australia's relatively stable economy supports the aussie. Moreover, the country’s economy is less exposed to global economic crises due to its isolation.
Pound sterling (GBP)
The pound sterling, the official currency of the United Kingdom of Great Britain and Northern Ireland, is ranked fifth among the world's stable currencies. Moreover, the GBP is in circulation in most territories that used to be under the UK jurisdiction. Experts believe that the pound is a valuable currency as 1 GBP is convertible at nearly $2. This exchange rate is beneficial to most investors. According to analysts, the pound is one of the major currencies of the global financial market.
Japanese yen (JPY)
The Japanese yen (JPY) takes sixth position in the rating. The JPY has been one of the world’s most stable currencies. On Forex, the yen’s trading volume totals 20%. The spelling and origin of the word "yen" has a rich history. It means "circular object" in Japanese.
Canadian dollar (CAD)
The Canadian dollar (CAD) is ranked seventh among the most traded currencies. Its share in daily trades is 5.3%. At the beginning of the 19th century, several different currencies were used in Canada: British, French, and several local currencies. In 1858, the authorities decreed to issue the first official Canadian coins. All money was stored in dollars and cents from then. According to the gold standard, the nominal value of the US dollar was artificially maintained ($1 = 23.22 grams of gold). The United Confederation of Canada used this financial system for several years. The loonie is currently one of the world’s dominant reserve currencies. Over the past 8 years, the Canadian dollar has strengthened its influence.
Hong Kong dollar (HKD)
The Hong Kong dollar, one of the most traded world’s currencies, takes eighth position in the rating. Experts note its high level of stability. The Hong Kong dollar consists of 100 cents and has separate symbols in official documents and a spoken dialect. The international currency code is HKD.
Cayman Islands dollar (KYD)
The Cayman Islands Dollar (KYD) is ranked ninth among the most stable and valuable currencies. It has been the legal tender of this small state for a long time. The national currency remains stable as the Cayman islands impose no direct taxes on residents. Business tycoons use this territory as an offshore financial center. Experts consider the Cayman Islands Dollar as one of the most valuable currencies: 1 KYD is worth $1.20. Moreover, it is the most valuable currency compared to those of other countries.
Swiss franc (CHF)
The Swiss franc (CHF), the legal tender of Switzerland and Liechtenstein, is at the bottom of the top 10 most valuable currencies. The CHF is unofficially used in the Italian enclave of Campione and the German exclave of Büsingen. The currency has high value as 1 CHF is worth $1.10. Moreover, it is a model of stability and sustainability. The history of the Swiss franc began in 1850. The country did not have a unified monetary system before that time. 860 types of coins with different values and denominations were in circulation. 1848 marked a turning point in the Swiss franc’s history. After the Constitution was adopted, the country had a single currency (CHF). Recently, the Swiss franc’s value as a means of capital saving is growing steadily. However, the CHF is not strong enough to compete with the USD.
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