A country with the strongest currency in the world is considered to be the most powerful economic country. It may cause a threat and also the best option for a business to earn huge foreign currency for the other countries.
The value of the currency can be changed according to the economic changes in the country. So, currency value is not a constant thing at all. If a country faces a recession then the value of currency also can fall as well. So, the highest currency in the world 2017 can be changed in the next year.
Though it is a very common concept among the people that US Dollar is the strongest currency in the world but this is a very wrong concept. The primary reason behind this concept is the power of United States of America in world politics Scenario. There are several other countries that have a strong currency value in the world economy. Not only from the western regions but also several eastern countries have strong currency value.
Strongest Currency of the World
Countries that have the currencies with the strongest value are given below:
For several consecutive years, Kuwaiti Dinar is considered the strongest currency in the world. The main reason behind the highest currency value of Kuwait is the business of oil. It helps to earn the maximum money by exporting oil throughout the world. The currency code of Kuwaiti Dinar is KWD. KWD is most commonly exchanged with INR. In an exchange with a single Kuwaiti Dinner, you can get 234.89 Indian Rupee today. Besides, you can get 3.30 Dollars with the exchange of single Kuwaiti Dinar. Due to the constant oil supplying and earning a huge amount of foreign currency the government of Kuwait can maintain the growth of the economy rate of this country for several years.
After Kuwaiti Dinar the country that holds the second position in the highest currency value is Bahrain. Despite Kuwait, Bahrain is also another country of the Middle East that has enough supply of natural oil that helps to build a strong economic base. Bahrain too earns the maximum amount of money by exporting oil throughout the world. Despite oil, there is also plenty of another reason that helps Bahrain to make the second strongest economic country of the world. The foreign symbol of Bahraini Dinar is BHD.
In an exchange with the single Bahraini dinar, one can get 189.25 Indian Rupee today. Besides, 2.65 Dollars is the exchange value of a single Bahraini Dinar. Despite the oil exportation, the great foreign exchange policy taken by the Bahrain Government is also one of the most important reasons behind becoming the second-highest currency in the world and among the top 50 highest currency in the world 2018.
British Pound is the official currency of Great Britain that is also considered as the strong currency in the world. The official name of this currency is pound sterling. From about the fourteenth century the pound sterling is one of the most popular and strongest currencies. Even after the end of colonialism British pound still is in the list of top highest currencies in the world. The exchange of single British pound costs 93.14 Indian rupees and 1.31 US dollars. The British pound is used in countries like South Georgia, Jersey, United Kingdom, etc. The British pound is still considered among the Top 20 highest currencies in the world.
Euro is the primary currency of the maximum European countries those are also called as European Union. Nineteen countries among the twenty-eight countries of the European Union have the currency of Euro. The Euro exchange value with the Indian Rupee is 78.63 and with the dollar, the exchange value is 1.15. Unlike the other currencies, the Euro is not the particular currency of a certain country. Moreover, this currency is very new, unlike other currencies. The physical coins and notes of Euro came after a certain period and it first appeared virtually. The primary need for the Euro was to help the European people in traveling. So, Euro has made its position in the list of the strongest currency in the world 2018
US dollar is considered the most powerful currency of the twenty-first century in world business. The foreign code of the US dollar is USD. It can be said that USD is controlling the world business and the rate of the other currencies mostly. The US dollar exchange value with the Indian Rupee currency is 71.34 INR. It is the currency of the United States of America. According to History America has become one of the most powerful countries in world politics so, naturally, it takes place in the list of the strongest currency in the world.
Naturally, the US dollar has become one of the most used currencies in the world business sector. US Dollar is considered the primary source of the reserve currency in all the commercial banks in the world. This is one of the most important facts behind becoming America the most powerful strength in world politics. At the time of any crisis period the reserved currency is the primary source of money that can help to overcome the crisis.
Though Switzerland is among the twenty-eight countries of European Union Switzerland does not use the British Pound or the Pound sterling currency for their country. Instead of the British Pound Switzerland uses Swiss Franc as their currency. Swiss Franc is also one of the strongest currencies in the world. The primary reason behind making separate currency from the other European Union countries is the business policy of Switzerland. The separate currency helps Switzerland to take the profit in its currency even after involving in the single market policy of the European Union. The foreign code of Swiss Franc is CHF.
You can exchange the single Swiss Franc with 73.50 Indian Rupee today. Banking and the finance sector is the primary reason behind becoming Swiss Franc one of the strongest currencies in the world. The debt amount of Swiss banks is lower than the other strongest currency countries. This is the reason for the rich investors to deposit the money after transferring in Swiss Franc and reserve it to the Swiss Bank. This business policy has made Swiss Franc the strongest currency in the world.
Australian Dollar is also considered one of the strongest currencies in the world. Though it is not on the list of the top ten strongest currencies in the world still the currency of Australia is very strong. The reason behind becoming the strongest currencies is the travel-friendly policies of Australia. The foreign code of the Australian Dollar is AUD. In an exchange with the Australian Dollar, you can get 48.23 Indian Rupee. The Australian dollar is one of the most stable currencies in the world. Among the Top 20 highest currency in the world Australian Dollar is a very popular currency that has liberal exchange policies especially for traveling.
Along with Bahrain and Kuwait Oman is also a country with strong currency value. The reason behind becoming one of the strongest currencies in the world is the oil industry and the exportation of oil throughout the world. The foreign code of Omani Rial is OMR and you can get 185.48 Indian Rupee in exchange with a single Omani Rial today. Oman is also a member of the World Trade Organization that helps the country to take place in the list of strongest currency value countries in the world.
Caymanian Island Dollar
Caymanian Island Dollar is another strongest currency in the world. Comparing with the other countries of the Caribbean, Cayman Island has the strongest and most stable economy. It is among the top ten strongest currency lists in the world. Though it is a surprise it replaces the Jamaican Dollar. The foreign code of Caymanian Island Dollar is KYD. You can get 85.55 Indian Rupee in exchange with one Caymanian Island Dollar.
Gibraltar pound is the official currency of Gibraltar. There are certain similarities of Gibraltar pound with the US Dollar. The coin size of Gibraltar Pound is the same as the US dollar but the design of note differs from one another. The foreign code of Gibraltar Pound is GIP and you can get 87.75 Indian rupees today in exchange for one Gibraltar pound.
Advantages of the countries having a strong currency
There are some advantages of the countries having a strong currency value given below:
Exporters pay a lower cost
If you live in a country that has stronger currency value than the other countries then you have an advantage in business. You can import raw materials from the other weaker currency countries and you will make a profit very easily. So, rich businessmen generally prefer the strongest currency in the world to spread their business. United States of America, Kuwait, etc are considered the most powerful countries according to the currency value and this is the reason behind controlling the world business of those countries. Due to the strong economic base, the business policies and the taxes of the foreign investors are lower than the other countries. So, to set up business exporters generally prefer a strong currency value country.
Attracts foreign currency
Strong currency countries are the best place to set business because of the high currency value. The exchange of foreign currency makes a country stronger economically. So, to earn more valuable foreign currencies, many countries become interested to set up business in the country that has strong currency value. Strongest currency helps to stabilize the economy that is the main reason behind the business interest of the companies because in a strong currency value country a company will never face a loss comparing to the other weaker currency countries in the world. So, the companies from the lowest currency in the world are often interested to explore their business in a strong currency company.
Easy to travel
A person who lives in a stronger currency has the facility to travel to many countries with lesser cost. They can easily visit the countries that have weaker currency value comparing to the country they belong to. So, the tourists of the country of the strongest currency in the world always prefer a weaker currency value country for traveling.
Inflammation costs lower
Inflammation does not hit a country with strong currency as much it hits other countries. The reason is basic currency value is higher compared with the other countries. So, when the weaker currency value country feels trouble due to inflammation the higher currency value country can help the weaker country by providing foreign currency at that time. Even at the time of recession, the strongest currency value countries provide money to the other lower currency value country to overcome the recession. This gesture helps to build a good political relationship and also opens the opportunity of business to the lower currency countries. So, the country with the strongest currency in the world is considered to be friendly and helpful for other countries.
Controls world economy
Countries with a strong currency value take a powerful position in the world economy. Due to the highest currency value, these countries control the business with maximum numbers of countries. These countries also provide huge money during the battle and they can control world politics as well. Not only the battle, but a strong economy country also helps in several natural disasters and due to the strong economic background the strongest currency countries become an important factor from world politics to the world economy.
So, to enlist their name in the strongest currency in the world countries become powerful in the world politics and economic scenario and also after becoming strong both politically and economically the duties of the strong currency value countries increase for the lower economic countries. To help in funding in the battle and the natural disaster the strong economy countries can make their position more powerful and also create friendly attire towards the other countries and the world.