The national currency of Libya is known as Libyan dinar or LYD in its abbreviated form. Interestingly, a single dinar is subdivided into 1000 dirham, unlike the sub-measurement of 100 that many other currencies follow. “It’s a very, very strong dollar,” said Mark Sobel, a former Treasury official who now serves as the U.S. chair of the Official Monetary and Financial Institutions Forum, a think tank. The factors roiling the global economy partly explain why the dollar has suddenly become so much stronger.

An autonomous British territory located in the Caribbean, the Cayman Islands are a major financial tax haven for wealthy individuals and corporations. The Swiss franc is also the 7th most traded in the world, gaining its popularity as a safe bet when trading or storing money, due to its strict monetary policies and low debt levels. Read more about trading our US dollar index​, which is a basket of forex pairs with the USD as the base tender. The Swiss franc (CHF) is generally considered to be the safest currency in the world and many investors consider it to be a safe-haven asset.

1. A single US dollar will buy you around 0.76 Gibraltar pounds, which is very similar in value to the pound sterling.
2. Additionally, CAD is a very popular option when forex trading, and accounts for around 5% of daily trades in the global foreign exchange market.
3. The value of this currency has since achieved its top spot due to its rich oil reserves (contributing to 80% of the country’s GDP), zero tax, and relatively low unemployment.
4. Forex trading refers to the exchange (buying and selling) of currencies, in pairs, with the intention to make profit.
5. The national currency of Libya is known as Libyan dinar or LYD in its abbreviated form.

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The Swiss franc is the official legal tender of Switzerland and its tiny neighbor Liechtenstein, and the currency 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. The Swiss franc is tied for eighth among the strongest currencies in the world, with 1 franc buying 1.08 dollars (or $1 equals 0.92 Swiss franc). The Omani rial is the third-strongest currency in the world, with 1 rial buying 2.60 dollars (or $1 equals 0.38 Omani rial). We’ve found the 10 strongest currencies in the world, based on their relative value against the U.S. dollar.

Kuwait is a small country that is nestled between Iraq and Saudi Arabia, whose wealth has been driven largely by its large global exports of oil. When measuring the value of one currency against another, you are simultaneously buying one currency and selling another, this is known as currency trading​. All of the currencies in our strongest currency list were quoted in exchange for a single US dollar. Find out more about how you can get involved in currency trading forex pairs here and see our trading fees​. Kuwait is a small country that is nestled between Iraq and Saudi Arabia whose wealth has been driven largely by its large global exports of oil. People have inhabited planet earth by forming cultures and societies, which in turn has led to demarcation of regions as countries.

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Kuwait is one of the largest global exporters of oil, as it has large reserves throughout the country. Discover more in our oil trading tutorial, which a popularly traded commodity among investors. When measuring the value of one currency against another, you are simultaneously buying one tender and selling another​. All of the currencies in our list are quoted in exchange for a single US dollar. See our trading fees​​ for more information and view our spreads and margin rates below for major, minor, and exotic pairs. In exchange for 1 US dollar, you will receive around 1.44 New Zealand dollars.

One of the newest currencies, the Euro or EUR is the official currency of 19 countries, which makes it the most widely used ‘official currency’ in the world. Countries where it is used as an official currency include Germany, France and Spain, and it is often known to be the world’s second reserve currency. It is also known to be the second most traded currency on the foreign exchange market only preceded by the US dollar. In fact, the EUR/USD​ or ‘Fiber’ is the most traded forex pair in the world, accounting for almost a quarter of daily forex trades.

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Brunei dollar

The Pound Stirling is often perceived as being the strongest currency in the world, however, that’s not the case, as it falls short to four Arabian currencies. The KYD was introduced in 1972 as a replacement for Jamaican Dollars and has gone on to become one of the worlds strongest currencies. With that said, we’ve put together a list of some https://www.dowjonesrisk.com/ of the worlds strongest currencies, so you can think about getting a little extra buying power when travelling abroad. On the Forex market, 1 Canadian dollar –also known as “Loonie” — will get you 0.75 U.S. The currency derives its importance from the country being a successful oil exporter as well as the currency being pegged to the U.S.

The euro is the official currency of 20 out of the 27 countries that form the European Union. Euro coins and bank notes entered circulation in 2002, and the currency is free-floating. The British pound is the fifth-strongest currency in the world, with 1 pound buying 1.22 dollars (or $1 equals 0.82 British pound). The Jordanian dinar is the fourth-strongest currency in the world, with 1 dinar buying 1.41 dollars (or $1 equals 0.71 Jordanian dinar).

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The 7th most expensive currency in the world is the Cayman Islands dollar or KYD, which is the national currency for the Cayman Islands. The Swiss franc is also the 7th most traded currency in the world, gaining its popularity as a safe bet when trading or storing currency, due to its strict monetary policies and low debt levels. The Australian dollar (AUD) is the national currency of Australia; it is also used by its external territories and some pacific island states. Although it is not the most expensive currency in the world, it is extremely valuable and one of the most stable currencies on this list. The analysts cited its status as a haven in times of worsening economic conditions and stock market turmoil.

The next Asian bank on our list and the first of the “Big Four”, is the Bank of China. The bank was created in 2005 after a merger between two of Japans Largest banks, the Mitsubishi Tokyo Financial Group and UFJ holdings. It is one of the main companies of the Mitsubishi Corporation and offers its customer a variety of services including, commercial banking, asset management, trust banking and international finance. Headquartered in Manhattan, New York City, JPMorgan Chase & Co is now also one of the largest investment companies in the world. HSBC can be found in roughly sixty-five countries around the globe and is listed on both the London Stock Exchange and the Hong Kong Stock Exchange.

Pound sterling

With over four million customers worldwide, HSBC offers private banking, corporate finance and retail and commercial banking to its customers. By 2018, it was considered to be the seventh-largest bank in the world and the largest in Europe. HSCB Holdings PLC is a British multinational investment bank and financial holdings company. Headquartered in Paris, France, BNP Parabis employs over 190,000 people and receives the majority of its annual revenue from everyday client accounts. Next on the list is BNP Parabis, which is a French international banking group. According to recent data, Crédit Agricole has an approximate current total asset balance of $2.13 trillion dollars.

This has helped it to become one of the strongest currencies in the world. It also holds the title of the worlds primary reserve currency and is held by both central and commercial banks all over the world. With a greater share of trade with China and Australia, the connection between the currencies is also quite strong.

Certain currencies are more valuable than others – some significantly more so. This doesn’t necessarily make one country richer than another, but the strength of a currency does often correlate with a country’s GDP and stability. You will receive just 0.30 Kuwait dinar after exchanging 1 US dollar, making the Kuwaiti dinar the world’s highest-valued unit per face value. Of similar value to the Omani rial, when trading 1 US dollar, you will receive 0.38 Bahraini dinar. A single US dollar will buy you around 0.76 Gibraltar pounds, which is very similar in value to the pound sterling. 1 US dollar will exchange for around 1.36 Brunei dollars, giving the BND the same value as the Singaporean dollar.

Reserve Bank of Australia manages the currency and the high interest rates are an attractive selling point as well. Due to a high commodity linkage of the currency to  export goods like gold, coal, and iron ores, changes in the price are bound to have an impact on currency value. The Dinar’s value is dependent on the major global export of the country–oil. Strict regulations concerning the flow-in and out of the country has proved very valuable in stabilizing the currency as this policy controls speculation and volatility. The U.S. dollar is the 10th-strongest currency in the world, with 1 dollar buying 1 dollar. (Obviously.) All other units of currency across the globe are worth less than a buck.