Top 16 Strongest Currencies in the World (2023)

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Ever wondered what the world’s strongest currency is? The United Nations recognises around 180 currencies as legal tender but which one holds the most value? Read ahead to discover the 16 strongest currencies that are used on a daily basis in 2021 and exchanged in forex trading​.

To compare the value of the currencies, we have used the United States dollar as the fixed base currency. The strongest currency here is defined as the one that is the most expensive in comparison to the US dollar. That is, the currency that gives you the smallest currency return for 1 US dollar.

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Top 16 Strongest Currencies in the World (1)

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Top 16 Strongest Currencies in the World (2)

16. New Zealand dollar

The NZD (New Zealand dollar) makes its rightful place on the strongest currency list at number 16. The strength of this currency has been rising, most likely caused by the nation’s political stability, high interest rates and GDP growth.

In exchange for 1 US dollar, you will receive around 1.52 New Zealand dollars. Even though the NZD is the 16th strongest currency in the world, it beats many of the stronger currencies and lands a top 10 place in the most traded currencies​.

15. Australian dollar

The Australian dollar (AUD) is the national currency of Australia; it is also used by its external territories and some pacific island states. Although it is not the most expensive currency in the world, it is extremely valuable and one of the most stable currencies on this list.

1 US dollar will get you around 1.45 Australian dollar, making it one of the most expensive currencies available. The Australian dollar is also the 5th most traded currency on the forex market and accounts for around 6.8% of daily trades. The reasons the AU dollar is so popular is the currencies stability, its high-interest rates and the view that it holds diversification benefits.

Do you think the AUD will climb the rankings or drop off the list? You can trade the Australian dollar based on your speculations with a risk-free forex trading demo account, where the AU dollar and many other currencies are available to trade with virtual currency.

(Video) World's Top 16 Strongest Currencies. Top 16 Highest Currencies In The World.

14. Singapore dollar

The Singapore dollar (SGD) is the official currency of Singapore. It is used in both Singapore and Brunei.

1 US dollar will buy you around 1.36 Singaporean dollars. The Singapore dollar is an expensive currency that is the 13th most traded currency on the foreign exchange market, accounting for around 1.8% of daily forex trades.

13. Brunei dollar

Brunei dollar or BND has been the currency for the Sultanate of Brunei since 1967. The Brunei dollar is interchangeable with the Singapore dollar at face value and both currencies are legal tender in each country.

1 US dollar will exchange for around 1.35 Brunei dollar, making the BND slightly more expensive than the Singaporean dollar.

12. Libyan dinar

The national currency of Libya is known as Libyan dinar or LYD in its abbreviated form. Interestingly, a single dinar is subdivided into 1000 dirham, unlike the sub-measurement of 100 that many other currencies follow.

A single US dollar will buy you around 1.41 Libyan Dinar. Although LYD is not the most valuable currency in the world, it is still a very strong currency.

11. Canadian dollar

The Canadian dollar or CAD is the currency of Canada and is one of the most popular currencies for central banks to hold as foreign exchange reserves, due to Canada’s legal and political stability. Additionally, CAD is a very popular option when forex trading, and accounts for around 5% of daily trades in the global foreign exchange market.

A single US dollar will purchase around 1.31 Canadian dollars, placing it 11th in the world’s strongest currency list, but its global popularity precedes its value.

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10. United States dollar

The US dollar is the currency of the United States and several other countries. It is the world’s primary reserve currency and is held by most central banks and commercial banks globally. Because of its widespread adoption, the US dollar also accounts for around 88.3% of daily trades in the foreign exchange market.

The US dollar holds many first-place titles, including the richest country in the world​,but remarkably only comes 10th when ranked as a contender for the world’s strongest currency.

All currencies on this list are compared for their currency strength relative to the US dollar. Therefore, the US dollar appears at 10th position, as 1 US dollar is worth exactly that - 1.0 US dollar. Read more about trading our US dollar index​, which is a basket of currency pairs with the USD as the base currency. This includes major forex pairs​ such as USD/JPY and USD/CHF.

(Video) Top 16 strongest currencies in the world

9. Swiss franc

The Swiss franc or CHF is the national currency of both Switzerland and Liechtenstein.

1 US dollar will buy your around 0.98 Swiss Franc, so the Swiss franc comes in as the first currency to be higher value than the US dollar. This, however, is no surprise given that Switzerland is one of the most stable and wealthy countries in the world. It also acts as a safe haven currency​ for investors in periods of economic instability, along with USD and JPY.

The Swiss franc is also the 7th most traded currency in the world, gaining its popularity as a safe bet when trading or storing currency, due to its strict monetary policies and low debt levels.

8. Euro

One of the newest currencies, the Euro or EUR is the official currency of 19 countries, which makes it the most widely used ‘official currency’ in the world. Countries where it is used as an official currency include Germany, France and Spain, and it is often known to be the world’s second reserve currency. It is also known to be the second most traded currency on the foreign exchange market only preceded by the US dollar. In fact, the EUR/USD​ or 'Fiber' is the most traded forex pair in the world, accounting for almost a quarter of daily forex trades.

In exchange for 1 US dollar, you will receive around 0.90 Euro, or 90 cents. This makes it the strongest currency in the list so far, and the 8th strongest in the world.

7. Cayman Islands dollar

The 7th most expensive currency in the world is the Cayman Islands dollar or KYD, which is the national currency for the Cayman Islands. An autonomous British territory located in the Caribbean, the Cayman Islands are a major financial tax haven for wealthy individuals and corporations.

A United States dollar is exchangeable for around 0.83 Cayman Islands dollar- making it the only and strongest Caribbean currency on the list.

6. Gibraltar pound

The Gibraltar pound or GIP is the national currency of Gibraltar and is exchangeable with the British pound sterling at face value. Therefore, in Gibraltar you are free to use both GIB and GBP.

A single US dollar will buy you around 0.81 Gibraltar pounds, which is very similar in value to the pound sterling.

5. Pound sterling

The Great British pound, the pound sterling or the GBP is the 5th most valuable currency in the world. Although the GBP is not the strongest currency in the world, it does keep the title as the oldest currency still in use​.

The pound sterling is often thought to be the strongest currency in the world and is the strongest currency in the world that is widely used. It’s also the 4th most traded currency globally, accounting for around 12.8% of daily trades on the foreign exchange market.

When exchanging a single US dollar, you will receive around 0.75 Great British pounds in return. This currency pair (USD/GBP), is commonly known as “cable” and is the 3rd most traded currency pair in the world. Do you have an opinion on whether ‘cable’ will rise or fall? Open a demo account and test your speculations on our forex trading simulator.

4. Jordan dinar

The national currency of Jordan is the Jordanian dinar or JOD, which earned the position as the 4th strongest currency in the world today. The currency became Jordan’s official currency in 1950 after it replaced the Palestinian pound.

1 US dollar is transferrable for around 0.71 Jordanian Dinar, earning the currency a rightful place in the top 5 most valuable currencies.

(Video) Top 16 Strongest Currencies in the World

3. Omani rial

The Omani rial or OMR is the national currency of Oman. Unlike most conventional currencies, the Omani rial is split into 1000 smaller divisions known as baisa. The Omani rial quickly rose in value after being introduced due to the success of Oman’s oil exports and being pegged against the US dollar.

A single US dollar will exchange for around 0.38 Omani Rial, which is nearly double the currency strength of the Pound sterling!

2. Bahrain dinar

The second strongest currency in the world is the Bahrain dinar or BHD. Like most Arabic currencies on this list, it is divided into 1000 smaller currency units, in this case, called ‘fils’. The Bahraini dinar is only used in Bahrain and is pegged against the US dollar.

Of similar value to the Omani rial, when trading 1 US dollar you will receive 0.38 Bahraini dinar.

1. Kuwaiti dinar

Known as the strongest currency in the world, the Kuwaiti dinar or KWD was introduced in 1960 and was initially equivalent to one pound sterling. Kuwait is a small country that is nestled between Iraq and Saudi Arabia whose wealth has been driven largely by its large global exports of oil.

You will receive just 0.30 Kuwait dinar after exchanging 1 US dollar, making the Kuwaiti dinar the world’s highest-valued currency unit per face value, or simply ‘the world’s strongest currency’.

Top 16 Strongest Currencies in the World (3)

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Trading currency pairs

When measuring the value of one currency against another, you are simultaneously buying one currency and selling another, this is known as currency trading​. All of the currencies in our strongest currency list were quoted in exchange for a single US dollar. Find out more about how you can get involved in currency trading forex pairs here and see our trading fees​.

Learn more about trading our exclusive currency baskets, also referred to asforex indices​, such as our USD Index, GBP Index and EUR Index.


What is the safest currency in the world?

The Swiss franc (CHF) is generally considered to be the safest currency in the world and many investors consider it to be a safe-haven asset. This is due to the neutrality of the Swiss nation, along with its strong monetary policies and low debt levels. You can trade on currency pairs that feature the Swiss franc such as USD/CHF, EUR/CHF and GBP/CHF.

Why is the Kuwaiti dinar so high?

The strength of the Kuwaiti currency can be attributed to its involvement in the oil and gas market. Kuwait is one of the largest global exporters of oil, as it has large reserves throughout the country. Read more about oil trading, a popularly traded commodity among investors.

What are the 7 major currency pairs?

The seven major currency pairs make up around 75% of all forex trades worldwide. These include EUR/USD, GBP/EUR, AUD/USD and USD/CAD. Read the full list of major currency pairs.

What is the world’s weakest currency?

The world’s weakest currency is considered to be either the Iranian Rial or the Venezuelan Bolívar. This is due to the high inflation levels, political conflicts and poor economic health of the countries. Visit our forex trading page for more details on the 330+ currency pairs you can trade with us.

What are the most popularly traded currencies?

Some of the most popularly traded currency pairs include major crosses such as EUR/USD, USD/JPY and GBP/USD, as these all represent wealthy and well-established economies across the world. Explore our guide to the most-traded currencies.

(Video) World Highest Currency (2023) - 150+ Countries Compared

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Top 16 Strongest Currencies in the World (4)

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Top 16 Strongest Currencies in the World (6)

(Video) Top 10 Most Valuable Currencies In The World 2022


What are the strongest currencies in order? ›

10 Most Valuable Currencies in the World
  1. Kuwaiti Dinar (KWD) The Kuwaiti Dinar is the official currency of the state of Kuwait and is currently the strongest currency in the world. ...
  2. Bahraini Dinar (BHD) ...
  3. Omani Rial (OMR) ...
  4. Jordanian Dinar (JOD) ...
  5. Pound Sterling (GBP) ...
  6. Cayman Islands Dollar (KYD) ...
  7. Euro (EUR) ...
  8. Swiss Franc (CHF)

Which is the world No 1 strongest currency? ›

The 'highest currency' is determined by its high value when traded for INR. In spite of the US dollar being the world's most traded and strongest currency, it is not the most expensive currency. Read on to know about the most valuable currencies in the world in 2023.

Where does the US currency rank in the world? ›

The U.S. dollar is considered to be the most powerful or strongest currency in the world. There are a variety of reasons for this. The U.S. economy and government are consistently stable and strong.

What is the top 20 currency in the world? ›

Top 20 strongest currencies in the world in 2023
  1. Kuwaiti Dinar – KWD. The strongest currency in the world is the Kuwaiti Dinar.
  2. Bahraini Dinar – BHD. ...
  3. Omani Rial – OMR. ...
  4. Jordanian Dinar – JOD. ...
  5. Cayman Islands Dollar – KYD. ...
  6. British Pound – GBP. ...
  7. Euro – EUR. ...
  8. Swiss Franc – CHF. ...
Mar 2, 2023

Why is the US dollar so strong? ›

The U.S. dollar is strengthening because the Fed adopted a hawkish monetary policy stance in response to skyrocketing inflation. It has lifted the federal funds rate from near zero at the beginning of 2022 to a range of 3.75% to 4% at the November FOMC meeting.

What backs the U.S. dollar? ›

Fiat money is a government-issued currency that is not backed by a physical commodity, such as gold or silver, but rather by the government that issued it.

What currency is stronger than the U.S. dollar? ›

Kuwaiti dinar (KWD)

The Kuwaiti dinar is the strongest currency in the world with 1 Kuwaiti dinar buying 3.26 US dollars (or, put another way, US$1 equals 0.31 Kuwaiti dinars). Kuwait is located between Saudi Arabia and Iraq, earning much of its wealth from being a leading global exporter of oil.

What backs up the U.S. dollar? ›

Federal Reserve Notes are backed by debt purchased by the Federal Reserve, and thus generate seigniorage for the Federal Reserve System, which serves as a lending intermediary between the Treasury and the public.

Do most countries accept US dollars? ›

Official Use of the US Dollar

More than 65 countries peg their currencies to the U.S. dollar while five U.S. territories and eleven foreign nations use it as their official currency of exchange.

Why Japanese yen is so weak? ›

The yen's slide has been driven by the difference between interest rates in Japan and the US.

What country is higher than the US dollar? ›

Kuwaiti Dinar (KWD) is the most valuable currency in the world due to the country's strong economy. 1 KWD = $3.26.

What is the number 1 weakest currency? ›

The Iranian Rial is the least valued currency in the world. It is the lowest currency to USD. For the simplification of calculations, Iranians regularly use the term 'Toman'. 1 Toman equals 10 Rials.

What is the 1 weakest currency in the world? ›

Burundian Franc: Burundi's national currency is the burundian franc. One of the world's poorest nations is Burundi, which lies in East Africa. It is understandable why it is listed as having the weakest currency in the world. 1 USD is equal to 2,077.45 Currency code for the burundian franc is BIF.

What is the top 20 lowest currency in the world? ›

What is the weakest currency in history?
  1. Venezuelan Bolivar. Which currency is the lowest in the world? ...
  2. Iranian Rial. ...
  3. Vietnamese (VND) ...
  4. Sierra Leonean Leone Currency (SLL) ...
  5. Indonesian Rupiah (IDR) ...
  6. Laotian Kip (LAK) ...
  7. Uzbekistani Som (UZS) ...
  8. Guinean Franc (GNF)
Feb 2, 2023

What are the 10 currency in the world? ›

Sr.No.Highest Currencies in the WorldValue of
10United States Dollar1 USD
9Euro1 EUR
8Swiss Franc1 CHF
7Cayman Island Dollar1 KYD
6 more rows
Dec 2, 2020

What should I own if a dollar crashes? ›

Here are the Top Recommended Assets to Own When the Dollar Collapses
  • Gold And Silver Coins.
  • Gold IRAs.
  • Real Estate Investments.
  • Foreign Bonds.
  • Collectables Such as NFTs.
  • Food Storages.
  • Own Foreign Currency.
Dec 14, 2022

Why does the US want a weak dollar? ›

A weaker dollar also makes U.S. goods and services (and assets) relatively less expensive for foreign buyers, which benefits U.S. producers that export goods.

What makes a weak U.S. dollar? ›

A variety of economic factors can contribute to depreciating the U.S. dollar. These include monetary policy, rising prices or inflation, demand for currency, economic growth, and export prices.

Who controls the U.S. dollar? ›

The Federal Reserve, the central bank of the United States, provides the nation with a safe, flexible, and stable monetary and financial system.

Where is the U.S. dollar not used? ›

United States Dollar

Why is the U.S. dollar so famous? ›

As we know that USA is the biggest economy in the world that is why its dollar is accepted worldwide. 2. In today's world the 80% of world trade take place in dollars. About 39% of the world's loans are given in US dollars and 65% of dollar supply is used outside of the United States.

Can the US dollar be too strong? ›

Besides hurting earnings, a super-strong dollar can also hurt prices of US stocks and bonds by making them more expensive for big non-US institutional investors. Faced with higher prices, they may opt to invest their money elsewhere, dragging US markets downward in the process.

Is the U.S. dollar losing value? ›

So what's going on and what can we expect in 2023? After rallying for most of 2022, the dollar's value relative to other currencies has dipped over the past few months. That's probably due to the prospect of the U.S. economy weakening, said Eswar Prasad, a trade policy professor at Cornell University.

What will strengthen the U.S. dollar? ›

Demand for the dollar is usually high as it is the world's reserve currency. Other factors that influence whether or not the dollar rises in value in comparison to another currency include inflation rates, trade deficits, and political stability.

What is Bitcoin backed by? ›

Bitcoin is not backed by any asset. This should be intuitive because Bitcoin is not controlled by any person or organization. Therefore, nobody is in a position to make this promise, and they would not gain anything by taking on the massive liability associated with ensuring the backing.

What is the oldest currency that's still in use? ›

The British pound is the world's oldest currency still in use at around 1,200 years old. Dating back to Anglo-Saxon times, the pound has gone through many changes before evolving into the currency we recognise today.

What are 3 major countries that use dollars? ›

The following countries and territories use U.S. dollars instead of a unique local currency: Puerto Rico. Ecuador. Panama.

What countries is the U.S. dollar worth the least? ›

Economy > Currency > Least valued currency unit > Exchange rate to 1 US dollar: Countries Compared
13 more rows

How much is $100 US in yen? ›

Are you overpaying your bank?
Conversion rates US Dollar / Japanese Yen
10 USD1338.05000 JPY
20 USD2676.10000 JPY
50 USD6690.25000 JPY
100 USD13380.50000 JPY
10 more rows

Is Japan more expensive than the US? ›

In the US, the average price per square foot to buy a residence in the city center is around $335, whereas in Japan a comparable figure is $760. This is an approximate 57% increase. However, on the whole, house prices are generally lower in Japan than the US, especially since the Covid pandemic.

Is it better to get yen in US or Japan? ›

But if you are traveling from the United States, definitely wait to exchange your money. You will get a much better rate in Japan for your dollars than in the US.

What country is weakest against the dollar? ›

The Iranian Rial currently ranks as the lowest currency in the world in terms of its exchange rate with the US dollar. For easier calculations, Iranians often use the term “toman”, which is equal to 10 rials.

Where is the US dollar worth the most 2023? ›

Top 10 Destinations Where Your U.S. Dollar Will Go Furthest In...
  • Turkey.
  • Argentina.
  • Japan.
  • United Kingdom.
  • Egypt.
  • South Africa.
  • Colombia.
  • Chile.
Nov 6, 2022

What is the top 10 strongest currency in the world? ›

Here's the top 10 strongest currencies:
  1. Kuwaiti dinar (KWD) The Kuwaiti dinar is the strongest currency in the world with 1 Kuwaiti dinar buying 3.26 US dollars (or, put another way, US$1 equals 0.31 Kuwaiti dinars). ...
  2. Bahraini dinar (BHD) ...
  3. Omani rial (OMR) ...
  4. Jordanian dinar (JOD) ...
  5. British pound (GBP) ...
  6. US dollar (USD)
6 days ago

What are the 4 major currencies? ›

The major currency pairs on the forex market are the EUR/USD, USD/JPY, GBP/USD, and USD/CHF. The four major currency pairs are some of the most actively traded pairs in the world, along with the so-called commodity currency pairs: USD/CAD, AUD/USD, and NZD/USD.

How many currencies are stronger than the dollar? ›

The world's strongest currencies
#CurrencyUSD rate
1Kuwaiti Dinar3.26 USD
2Bahraini Dinar2.65 USD
3Omani Rial2.60 USD
4Jordanian Dinar1.41 USD
6 more rows
Feb 14, 2023

What is the US dollar backed by? ›

What is the US dollar backed by? From the 1970s to today, most countries have run on a system of fiat money, which is government-issued money that is not backed by a commodity. The US dollar is fiat money, which means it is backed by the government, but not by any physical asset.

What are the 8 major currencies? ›

  • 1. U.S. Dollar (USD)
  • European Euro (EUR)
  • Japanese Yen (JPY).
  • British Pound (GBP)
  • Swiss Franc (CHF)
  • Canadian Dollar (CAD)
  • Australian/New Zealand Dollar.
  • South African Rand (ZAR)

Which currency is the most advanced? ›

Kuwaiti dinar

You will receive just 0.30 Kuwait dinar after exchanging 1 US dollar, making the Kuwaiti dinar the world's highest-valued currency unit per face value, or simply 'the world's strongest currency'.

What are the 3 main currencies? ›

Template:Most traded currencies
RankCurrencySymbol or abbreviation
1U.S. dollarUS$
3Japanese yen¥ / 円
33 more rows

What are the 10 most used currencies? ›

The top 10 most traded currencies
  1. US dollar (USD) ...
  2. Euro (EUR) ...
  3. 3. Japanese yen (JPY) ...
  4. British pound sterling (GBP) ...
  5. Chinese renminbi (CNH) ...
  6. Australian dollar (AUD) ...
  7. Canadian dollar (CAD) ...
  8. Swiss franc (CHF)
Feb 2, 2023

What are the big 6 currency? ›

The U.S. dollar, the euro, the yen, the British pound, the loonie, and the Swiss franc are major currencies to watch.

What are the 6 key currencies? ›

The seven key currencies today are the U.S. dollar, the Euro, the British pound, the Japanese yen, the Canadian dollar, the Swiss franc, and the Mexican peso—although other contenders, such as the Chinese yuan, also exist.

Why is the U.S. dollar the most traded currency? ›

Firstly, the US is the world's largest economy and a powerhouse in international trade. Secondly, the US dollar is the world's primary 'reserve currency', held by central and commercial banks for the purposes of international transactions and investment – estimated to make up nearly 63% of currency reserves by volume.


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