Home Finance Some of the Strongest World Currencies in 2020

Some of the Strongest World Currencies in 2020

by Edvard Berlusconi

The United Nations recognize 180 currencies from 195 countries around the world. Currency includes all the banknotes and coins used as a medium of exchange. The use of currencies began in Egypt and Mesopotamia, but since then, they’ve obviously changed a lot. The dollar is the most widely used currency as it’s being used by more than 30 countries from four different continents. Euro, on the other hand, is the official currency in many countries in Europe.
Furthermore, developments in technology led to the use of digital currencies. Now, there are thousands of different cryptocurrencies in the market and the main difference between them and the traditional currencies is the fact that they aren’t centralized and use blockchain technology.
Here is a list of some of the strongest currencies in the world.

British Pound Sterling – 1 GBP = 1.26 USD

Img source: globalexchange.es

This currency is particularly interesting as it’s more than 1,200 years old and it’s the oldest currency in the world. It’s commonly referred to as the “pound” and less frequently referred to as “sterling”. Even though in 1976 sterling fells, today it still remains one of the strongest currencies in the world. It is also the fourth most traded currency in the world, while the US dollar, the euro, and the Japanese yen take the first 3 places.
There are numerous online money converters where you can quickly find currency exchange rates and conduct quick operations. According to mconvert.net, the most popular currency pair in the world is dollar and euro, while in Europe the most popular pair is euro and pound. These online currency converters allow us to see live market exchange rates easily and quickly.

 Jordanian Dinar – 1 JOD = 1.41 USD

Img source: exclusivecoins.blogspot.com

Unlike the British pound, this is a relatively young currency as Jordan became an independent kingdom in 1946 and the Jordanian dinar became the official currency in 1950. Until that point, Palestine pound was the official currency in Mandatory Palestine and the Emirate of Transjordan. The banknotes come with a beautiful design and inscriptions on both Arabic and English.

Omani Rial – 1 OMR = 2.60 USD

Img source: 123RF.com

This is the third strongest currency in the world and it’s even younger than the Jordanian Dinar. It is the official currency of Oman, the country on the Arabian Peninsula. Oman, thanks to its location, has a highly developed economy and a high quality of life. In 1973 the Omani rial replaced the rial Saidi as the official currency of this country.

Bahraini Dinar – 1 BHD = 2.65 USD

Img source: leftovercurrency.com

This currency was introduced in 1965 when it replaced the Gulf rupee as the official currency of Bahrain. The country is a Persian Gulf island state and has a population of a bit over 1 million people. Bahraini dinar is currently the second most valuable currency in the world.

Kuwaiti Dinar – 1 KWD = 3.29 USD

Img source: 123RF.com

This is the official currency of Kuwait since 1968. It replaced the Gulf rupee in this country as well. However, this currency had a bit of a turbulent history. When Iraq invaded Kuwait back in 1990, the Iraqi dinar replaced the Kuwaiti dinar, but after liberation in 1991, the Kuwaiti dinar was brought back as the official currency. Large amounts of banknotes and coins were stolen during the invasion, but after the liberation new series of banknotes was issued which demonetized the old series.

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