Most powerful currency in the world? Is this the case for the dollar?

Sowmiya Sriram
Most powerful currency in the world? Is this the case for the dollar?
Forbes has released a list of the 10 strongest currencies in the world. First on this list is the Kuwaiti Dinar. currency is the lifeblood of trade in every country. It also reflects the economic strength of the country. A currency's strength is a testament to a country's stability and strong financial health. When the value of the currency rises, so does the confidence in the country's economy. It attracts investments and fosters international relations. The United Nations recognizes 180 currencies around the world as legal tender. Some currencies are popular and widely used. These reasons cannot determine their value or strength.
A strong currency not only increases the country's purchasing power but also gives credibility to the country's economy on the global stage. Thus investors will invest more in stable currencies. In this case, forbes has published a list of the 10 strongest currencies in the world. First on this list is the Kuwaiti Dinar. One Kuwaiti dinar is equal to 270.23 rupees or 3.25 US dollars. The next Bahraini dinar is worth 220.4 rupees or $2.65.
Omani Rial (Rs 215.84), Jordanian Dinar (Rs 117.10), gibraltar Pound (Rs 105.52), and british Pound (Rs 105.54) are next. The US dollar is ranked 10th on this list. The value of one US dollar is Rs.83.10. But the US dollar is the most widely traded currency in the world, according to Forbes. However, it is still the 10th strongest currency in the world. The Kuwaiti Dinar has been the world's most valuable currency since its introduction in 1960. Experts attribute this to Kuwait's economic stability. Kuwait's oil reserves and tax-free government are also cited as important reasons.
Besides the Kuwaiti dinar, the swiss franc, the currency of switzerland and Liechtenstein, is also considered the world's most stable currency, according to a forbes report. Note that this list is published based on currency values up to january 10, 2024.
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