Kuwaiti Dinar Tops The List Of 10 Strongest Global Currencies

The Kuwaiti dinar topped the list of 10 strongest currencies in the world, according to a report published by ScoopWhoop. In its classification of the strongest currencies around the world, the report relied on the exchange rate of each currency against the US dollar and the British pound.

The report pointed out that the rating of the strength of the local currency against the US dollar and the British pound does not necessarily reflect the economic strength of the country or the trade balance and budget status of the country.

The report put the Kuwaiti dinar at the forefront of the strongest currencies in the world and pointed out that the Kuwaiti dinar, since it was first issued in 1960, has become the most valuable currency and on top of the strongest currencies around the world in terms of the exchange rate.

The report pointed out that Kuwait is an oil country par excellence, as it owns 9% of the world’s oil reserves, and oil revenues represent about 80% of the state’s total revenues. According to the report, exchange rate in May 2021 was about $3.32 to the dinar.

The rest of the list included 9 currencies of various economies, among which there is a great discrepancy, as the Bahraini dinar ranked second after the Kuwaiti dinar at an exchange rate of up to $2.6, followed by the Omani riyal which ranked third at an exchange rate of 2.6 against the US dollar and in the fourth place the Jordanian dinar which fetched 1.4 dollars.

 

 

 

SOURCE  TIMESKUWAIT

Comments Post Comment

Leave a Comment

Submit