The US economy has been the strongest in the world for decades now; hence it’s unsurprising that the USD takes the foremost position as the strongest currency in the world. This is primary due to its popularity and demand in the international market. In fact, it serves as the yardstick of valuation for other currencies across globe. However, it’d surprise you to know that, despite being the strongest currency around, it’s not among the top valuable currencies.
In this article, we bring you a list of the top 5 most valuable currencies, in comparison to the USD.
5 most valuable currencies in 2020
1. Kuwaiti Dinar (KWD)
Exchange rate: 1KWD = 3.27 USD
Unknown to many, the Kuwaiti Dinar is the most valuable currency in the world. Despite being a relatively small country, Kuwait boosts of a thriving oil-driven economy. Today, the Middle Eastern country is considered one of the most prosperous nations in the world.
With the powerful currency and a booming oil export, the country enjoys a stable economy, which is evident in the low rate of employment and high standard of living obtainable in the country.
2. Bahraini Dinar (BHD)
Exchange rate: 1BHD = 2.66 USD
Ranked next to the Kuwaiti Dinar is the Bahrain Dinar, and is valued against the USD at 1BHD to 2.66USD.
Bahrain’s primary source of revenue, like their Kuwaiti neighbor, is exportation of the “black gold” (petroleum). However, her economy is also boosted by tourism, as the Persian Gulf country is a popular destination for tourists. The country is also one of the host countries of the Grand Prix sporting event.
With a powerful currency in Dinar and a flourishing economy, Bahrainis are obviously some of the most privileged groups of people in the world.
3. Omani Rial (OMR)
Exchange rate: 1OMR = 2.60 USD
Next on our list of the most valuable currencies is the Omani Rial. It is valued at 1OMR to 2.60USD. This may seem a surprise addition when you consider the popularity of the Omani Rial, but it is not to be when you consider the country’s rich economy.
Located in the Arabian Peninsula, Oman is blessed with an abundance of wealth and quality life; though the country is not as wealthy as her oil-exporting neighbors. Oman is a major exporter Agriculture produce, and also earns decently from tourism.
4. Jordanian Dinar (JOD)
Exchange rate: 1 JOD = 1.41 USD
Jordan’s economy is not so buoyant, compared to those of their oil-rich neighbors in the Arabian Peninsula. In fact, over the past decade, the country has had to depend on the foreign aid from the West and their neighbors for energy and other basic provisions. Nonetheless, the Jordanian currency ranks among the most valuable currencies in the world – valued at 1 JOD to 1.40USD.
Jordan formerly shared the same currency with Palestine, but introduced the Jordanian Dinar in 1959; more than a decade after it got her independence, in 1946.
5. British Pounds Sterling (GBP)
Exchange rate: 1 GBP = 1.34USD
The GBP is not a surprise addition to this list, considering Britain’s economic prosperity, and the currency’s prestige and demand in the global FX market. In fact, many people regard the GBP as the most valuable currency, which is not so, as pointed out in this piece. Nonetheless, like the above-listed, it’s more valuable than the USD.
Conclusion
The US Dollars and British Pound Sterling are obviously the two strongest currencies in the world; with respect to their prestige and demand in the global FX market. However, contrary to popular belief, they are not the most valuable around.
In this article, we have outlined the top 5 most valuable currencies in 2020, to include, in the following order; Kuwaiti Dinar, Bahraini Dinar, Omani Rial, Jordanian Dinar and British Pound Sterling..
