U.S. Dollar vs other currencies – This article will discuss the strength of the United States dollar compared to the currencies of other top countries.
We will also attempt to answer some questions that have been asked online, some of the questions are;
- What currencies are stronger than the US dollar?
- Which currency has the strongest value?
The United States dollar is one of the most popular currencies in the world that has great influence over other countries’ currencies. For instance, the exchange rate of Dollar to Naira black market today is N740/$. This keeps increasing since the beginning of 2022 because of so many things.
Another point to note is that the United States dollar is the reserve currency and has always been in high demand. It is the strongest currency and the most-rated currency in the world. However, this does not mean that the United States dollar is the highest currency in the world in terms of value. As a matter of fact, the United States dollar is not present among the top 10 highest currencies in the world presently.
Now let us compare the strength of the United States dollar against other top currencies in the world.
1. United States Dollar vs Kuwaiti Dinar
The Kuwaiti Dinar has remained as the world’s highest currency for a while because of the economic stability in the oil-rich country. Kuwait has one of the largest oil global reserves and the constant high demand for oil has made the currency always be in top demand.
One United States dollar changes for 0.30 Kuwaiti Dinar
2. United States Dollar vs Bahraini Dinar
The Bahraini Dollar is the second highest currency in the world and this has been for a while thanks to the modest and relatively stable inflation rate in the country. Presently, one United States dollar changes for 0,38 Bahraini Dinar
3. United States Dollar vs Omani Rial
One of the reasons that the Omani rial has maintained a high value for many years is because of oil and Oman keeps a reserve of the United States dollar to support the rial’s value. This has worked perfectly for the Omani rial given the fact that oil in valued in US dollars, this has made the rial remain stable in relation to the price of oil. One United States dollar is changed for 0.38 Omani Rial currently.
4. United States Dollar vs Jordanian Dinar
The Jordanian Dinar has remained strong due to the fact that the government maintains fixed exchange rates instead of floating exchange rates. The currency has been able to maintain its value because of tighter government policy. One U.S. dollar currently changes for 0.71 Jordanian Dinar.
5. United States Dollar vs Gibraltar Pound
The Gibraltar Pounds currently stands at number five in the list of highest currencies in the world. The Gibraltar pound is Gibraltar’s official currency of Gibraltar and it has some similarities with the British pound. One United States dollar exchange for 0.78 Gibraltar pound.
6. United States Dollar vs British Pound
The British pound has been stronger than the United States dollar for over 20 years now despite the fact that the United States has a more powerful and stronger economy than the British pound coalition. Currently, the British pound was severely affected by the incident at Brexit in 2016, but the currency rolled itself back and remains at number 6 in the list of highest currencies in the world. One United States dollar exchanges for 0.73 Pound sterling.
7. United States Dollar vs Cayman Islands Dollar
The Cayman Islands dollar has continued to remain strong because of its significant oil exports into the world market. The Cayman Islands dollar was the highest currency in 2016 but dropped to number seven within five years. More than 80% of the country’s revenue comes from oil and it is a country with a very low unemployment rate and is tax-free. One U.S. dollar was exchanges for 0.83 Cayman Islands dollars.
8. United States Dollar vs Euro
Euro is the European currency that is generally used in all European countries. It replaced the national currencies of European states and non-European states. One of the things that have helped the Euro to constantly overtake the United States dollar in value is its popularity and stability. One United States dollar changes for 0.86 euros.
9. United States Dollar vs Swiss France
The Swiss Franc is the official currency of Switzerland. The value of the Swiss Franc increased against the United States dollar after 2000. The United State’s accommodative monetary policy and European debt crisis helped the Swiss Franc to increase its value tremendously. One United States dollar changes for 0.93 Swiss Franc.
10. United States Dollar vs Canadian dollar
The Canadian dollar is the official currency of Canada and is one of the most popular currencies in the world. The legal and political stability in Canada has made the CAD to remain stable. Forex traders like using the Canadian dollar in trading and it accounts for 5% in the global foreign exchange market’s daily trading. One United States dollar changes for 1.26 Canadian dollars.
What currencies are stronger than the US dollar?
As listed above, the Kuwaiti dinar, Bahraini dinar, Oman rial, Jordanian dinar, Gibraltar pound, British pound, Cayman Islands dollar, Euro, and Swiss Franc, are currently stronger than the United States dollar.
Which currency has the strongest value?
The Kuwaiti dinar is unarguably the strongest currency in the world, it sits at number one in the list of the top currencies. Kuwait has one of the largest oil global reserves and the constant high demand for oil has made the currency to always be in top demand