Which is the strongest currency in the world? As our list of 15 strongest currencies in the world unfolds, you will come to know that the United States Dollar is in fact not the strongest currency in the world in terms of value. What makes USD nearly the most valuable one in terms of demand is the fact that it is used as world’s reserve currency. This simply means that USD is extensively used in international commerce, and particularly crude oil. Moreover, the US Dollar is also directly linked to commodities like Gold, Silver and Platinum with every turn in the value of USD manipulating the price of oil and precious metals considerably. You would also love to know about Top 10 Banks in the World.
While going through this article you’ll realize that the strongest currencies don’t essentially bring about strong and healthy real economies, besides one has to be aware that numerous governments maneuver the value of their currency to control the flow of their imports and exports.
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Here the list of 15 Strongest Currency in the World
United Arab Emirates Dirham
In 2015 one can buy $1 by 3,67 Dirham. The monthly average wage in UAE is around $10.206, by UAE’s capital, with Dubai rising to a substantial economic center in the area.
Qatari Riyal measures up to 3.67 USD in average during the first 2 quarters of 2015, although recently the exchange rate opposed to the USD has enhanced considerably. Qatar is an oil rich country similar to Saudi Arabia and UAE. Besides being the base of influential global private corporations, Qatar will also host the World Cup in 2022. As regards to salaries, Qatar comes 2nd after Saudi Arabia with an average salary of $11.473 per month.
One can purchase $1with 3.16 Real on average, nevertheless the rate has improved for the duration of this last quarter of 2015. The average monthly salary is $2.756, in Brazil and in spite of the fact that Brazil doesn’t have any exclusive economic figures as compared to other states on our list of 15 strongest currency in the world, the South-American giant, and member of BRICS group is a swiftly growing economy with scores of potential particularly in international trade sector.
Turkish new Lira
Hundreds and thousands of expats from all over the world are getting attracted towards Turkey’s flourishing economy, and though the Turkish new Lira is on losing ground at present in opposition to the USD, for the period of the first quarter of 2015 you could have bought $1 with 2.66 TRY. The government has prioritized to raise the value of Yeni Lira in markets and also to manage inflation.
New Zealand Dollar
Besides being famous for its sheep and its striking landscape, New Zealand also has a strong economy which is based on the energy sector and mining. 1.4 NZD can buy you $1 and the average per month salary in New Zealand is $5.500.
The long disturbed state of Libya still maintains a strong currency owing to its oil production. You can buy 1 USD with 1.38 Libyan Dinars, and the average salary per month is around $3.842.
Neighboring state to the US, Canada has an enormous land. Canada has rich resources and comparatively low population along with its access to the Arctic and oil. 1 Canadian Dollar can get you $0.76 at present showing signs of enhancement as compared to the first few quarters of 2015. The average salary per month is $4.245 in Canada.
Azerbaijan completes is rich in Natural Gas. At present 1 Manat comes equivalent to $0.96, and so far in 2015 the average bid is 0.99 Manat for $1. The average salary per month in Azerbaijan is about $3.500.
Switzerland is the banking haven and an extremely strong economy. In average $1 equals 0.95 CHF, and the Swiss currency is used by a lot of people as the main currency for their savings. The average salary in Switzerland is $9.374 per month.
Euro equals to $1.12. The spread used to be wider, however USD has been doing really fine for the duration of the second half of this year, reducing the disparity.
Jordanian Dinar is the foundation of the top 5 strongest currencies vs. the US Dollar, having a exchange rate of 0.71 on average with the USD as base currency. Jordan’s monthly average salary is approximately $2.700.
Great Britain’s Pound
If you are an American vacationer in the United Kingdom then you need to pay $1.58 for 1 pound in average. Great Britain’s currency became powerful all through the Colonial era and it still stays a top currency used in savings accounts. The average compensation per month in England (not whole UK) is around $6.785.
Bahrain has a strategic position that upholds international trade. Having a developing economy as well as industry, Bahrain’s economy is one of the strongest in the world and also the most stable in the region. 1 BHD measures up to $2.56 on average and the average salary in the country comes around $3.500 per month.
In the same way Oman holds a prime location that endorses international trade. 1 OMR can buy you 2.6 US Dollars on average in 2015. As a country Oman may not be that attractive, nevertheless the monthly average comprehension comes around $4.100 which clearly convinces just about anyone to give Oman a try as an expat.
The list of the 15 strongest currency in the world cannot be complete without Kuwait which is reaping the fruits of a thriving economy anchored in their trade and oil. Kuwaiti Dinar is equal to $3.30 US Dollars on an average! The average salary of the country is rather attractive at $3.650 per month.