The Top 10 Strongest Currencies in the World in 2023: An Overview

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 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 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 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 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

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 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 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 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 United States dollar (USD) is the official currency of the United States and its territories. It is also widely used as a global reserve currency and in international transactions. The US dollar is the most traded currency in the world and is issued by the Federal Reserve System.