Although the US dollar is widely traded globally, it does not rank as the strongest among many recognized fiat currencies worldwide.
While it does not hold the top position, the US dollar barely makes it into the top 10 as illustrated in the table below.
Here’s a summary of the top 10 strongest currencies globally, based on their value compared to the US dollar.
The US dollar, despite being the most widely traded currency globally, does not hold the top position in terms of strength among approximately 180 fiat currencies in use worldwide. It ranks just inside the top 10, as outlined below.
Here are the strongest currencies listed along with their respective symbols, based on their exchange rates against the US dollar as of June 13, 2024, sourced from our currency converter using Open Exchange data.
10. US dollar (USD)
The US dollar is positioned tenth on our list of top currencies, with all others valued at less than one dollar per exchange.
Established in the 1700s, the US dollar is the official currency of the United States and is also used in other regions, such as Ecuador.
As the world’s largest economy by GDP, the US dollar is highly traded globally. It serves as the primary reserve currency, widely held by central banks, and is preferred for pricing major commodities such as oil, gold, and copper.
9. Euro (EUR)
The euro, introduced in 2002, is the official currency of the Eurozone, comprising 20 of the European Union’s 27 member states.
Currently, one euro is valued at $1.084, meaning €0.9223 can be exchanged for one US dollar.
8. Cayman Islands dollar (KYD)
The Cayman Islands, located in the Caribbean and known as a major offshore financial center, utilize the Cayman Islands dollar, introduced in the 1970s and pegged to the US dollar. Currently, it holds a value of $1.200, making one US dollar equivalent to 0.8333 Cayman Islands dollars.
7. Swiss franc (CHF)
The Swiss franc, serving as the official currency of Switzerland and Liechtenstein, is renowned as a safe haven owing to Switzerland’s stable political environment. Since its inception in 1850, the Swiss franc has maintained a value of $1.1222, meaning one US dollar is equivalent to 0.8911 francs.
6.= Gibraltar pound (GIP)
The Gibraltar pound, introduced in the 1920s, maintains a fixed value relative to the British pound, ensuring it moves in tandem with sterling’s fluctuations. Gibraltar, located at the southernmost tip of Spain, is a British Overseas Territory.
5.= British pound (GBP)
The British pound sterling, established since the 15th century and decimalized in 1971, is presently valued at $1.284, which equates to £0.7785 per $1.
4. Jordanian dinar (JOD)
The Jordanian dinar, in circulation since the 1950s, is currently valued at $1.410, placing it fourth on our list. This implies that $1 can be exchanged for 0.7088 dinars.
Jordan, located primarily in the Middle East, is surrounded by land and does not heavily rely on oil and gas exports like its neighboring countries. However, it contends with sluggish economic growth and rising debt burdens.
3. Omani rial (OMR)
The Omani rial, introduced in the 1970s, is presently valued at $2.597. This means that $1 equals 0.3849 rials.
Oman, located at the tip of the Arabian Peninsula, shares borders with the United Arab Emirates and Yemen. Similar to its wealthy neighbors, Oman’s economy is predominantly dependent on oil and gas exports.
2. Bahraini dinar (BHD)
As of now, the Bahraini dinar is valued at $2.653, making $1 equivalent to 0.3769 dinars.
Bahrain, an island nation in the Persian Gulf close to Saudi Arabia, supports one of the most diverse economies in the Gulf region. In 2023, its non-oil sector contributed 83.9% to its real GDP. Introduced in 1965, the Bahraini dinar maintains a fixed exchange rate with the US dollar.
1. Kuwaiti dinar (KWD)
Based on our analysis, the Kuwaiti dinar is identified as the strongest currency globally, valued at $3.264 per dinar. Alternatively, one US dollar equals 0.3063 dinars. Kuwait, situated between Iraq and Saudi Arabia, owes its economic prosperity primarily to its prominent position as a leading global oil exporter.