Powerful Currencies In The World, Forbes Releases List

Currency’s value reflects a country’s economic vitality and the strength of a nation”s currency is its testament to its stability and financial health. When the value of the currency increases, the power and stability of the economy also grow. It will attract international investment. Investors are looking for economies whose currencies are firm.

Forbes, an American business magazine, released the list of the world’s 10 strongest currencies. According to its report, the Kuwaiti Dinar retained its first rank in the list of powerful currencies, with one Kuwaiti Dinar equal to 270.23 Indian rupees and 3.25 US dollars respectively. The Kuwaiti Dinar has maintained its first position since the currency’s introduction in 1960. The power of the country’s currency depends upon its economy”s stability which is running by the oil reserves and tax-free systems.

The second most powerful currency is the Bahraini Dinar, with one Dinar equalling at 220.4 rupees and 2.65 dollars respectively. Notably, the US dollar is in the 10th position in the list of powerful currencies, with one US dollar valued at 83.10 rupees. The US dollar, however, is the most widely traded currency across the world and holds the position as the primary reserve currency, according to Forbes.

The other powerful currencies that came within the top ten included the Omani Rial with a value of  215.84 rupees and 2.60 dollars, the Jordanian Dinar with the value of 117.10 rupees and 1.141 dollars, Gibraltar Pound with the value of 105.52 rupees and 1.27 dollars, British Pound with the value of 105.54 rupees and 1.27 dollars, Cayman Island Dollar with the value of  99.76 rupees and 1.20 dollars, Swiss Franc with the value of 97.54 rupees and 1.17 dollars and the Euro with the value of  90.80 rupees and 1.09 dollars.

However, as per the Forbes report, India ranked 15th, with its value as 82.9 rupees for one US dollar. Currency. The total number of currencies that the United Nations has recognised is 180 across the world with the legal tender.