Forbes has recently released a list of the world’s 10 strongest currencies, taking into account their values compared to both the Indian Rupee and the US Dollar. The strength of a currency is a vital indicator of a country’s economic stability and international credibility.
The top positions in Forbes’ list are occupied by the Kuwaiti Dinar, valued at Rs 270.23 and $3.25, followed by the Bahraini Dinar with Rs 220.4 and $2.65. The Omani Rial (Rs 215.84 and $2.60), Jordanian Dinar (Rs117.10 and $1.141), Gibraltar Pound (Rs 105.52 and $1.27), British Pound (Rs105.54 and $1.27), Cayman Island Dollar (Rs 99.76 and $1.20), Swiss Franc (Rs 97.54 and $1.17), and the Euro (Rs 90.80 and $1.09) complete the list. Remarkably, the US Dollar holds the tenth position, with one USD valued at Rs 83.10.
Forbes explains that, despite being the most widely traded currency globally and serving as the primary reserve currency, the US Dollar ranks last among the world’s strongest currencies. The ranking is based on various factors, including economic stability, global demand, and geopolitical influence.
The Indian Rupee, in comparison, is listed 15th, with a value of 82.9 per US Dollar according to the exchange rate published on the International Monetary Fund’s (IMF) website.
The Kuwaiti Dinar, securing the top spot, has consistently maintained its position as the world’s most valuable currency since its introduction in 1960. This success is attributed to Kuwait’s economic stability, fueled by its significant oil reserves and tax-free system. Additionally, Forbes notes that the Swiss Franc, the currency of Switzerland and Liechtenstein, is widely regarded as the most stable currency globally.