The US Dollar, otherwise called the ‘Green Back’ is the world’s famous currency but is highest (strongest) currency in the world?
We are going to find out in a short while, though we all agree that getting payed in US dollars is something all look forward especially if you are not an American Citizen. Moreover, most business transact their businesses in US dollars. This has made the green back very famous.
We all have the Euro (€) (the currency of the European Union) and British Pound (£) as some of the strongest currencies in the world.
However, what determines the strength of a currency? Though this is a complicated subject, here are some of the factors that determine strength a currency.
- Demand and Supply
- Foreign Direct Investments.
- Exports and Imports
- Trade Deficit
- Skilled manpower with a Country
So, which is the strongest currency in the world in 2019? Is it the US dollar, the Euro, the British Pound or are we going to see some unknown currency taking the crown?
It is the Kuwait Dinar. Currently, 1 Kuwait Dinah equals 3.29 US dollars. Backed by a strong economy that relies of oil exports, it is the strongest currency in the world.
Let us dive deep into this.
Highest Currency in the World in 2019
Briefly, look at this table and to reveal the highest currencies in the world.
|Position||Currency||Currency Symbol||Exchange rate to US$ 1|
|17||New Zealand Dollar||NZD||1.59|
|07||Cayman Island Dollar||KYD||0.83|
I have decided to compare each of the currencies to the US Dollar because it is the most common currency used in the international markets.
Of course, now you know that the highest (strongest) currency in the world in 2019 is the Kuwait Dinar.
Let us dig deeper and look at each of these currencies.
21. Turkish Lira
At Position 20 is the Turkish Lira, the currency of Turkey a country that joins Asia and Europe. Boosted by a strong economy, this currency is among the strongest in Europe. Besides, Turkey is a top destination for tourists in the world, receiving the much-needed foreign currency to boost its economy.