What are the strongest currencies in the world? (2024)

Ever wondered which is the strongest currency in the world? There are lots of factors which can push a currency up the global rankings, from low inflation to a strong economy, to interest rates or oil and gas exports.

In this guide, we’ll run through the top 10 list of the strongest currencies in the world in 2024. You may be surprised as to what comes out on top.

So, let’s get started.

What is currency strength?

According to Nasdaq¹ a strong currency is:

“A currency whose value compared to other currencies is improving, as indicated by a decrease in the direct >exchange rates for the currency”.

Put simply, the definition of a ‘strong currency’ is when a currency is worth more than another country's currency. ‘Currency strength’ refers to how strong or weak a currency is at any given time.

What are the top 10 strongest currencies?

Here are the top 10 strongest global currencies in 2024:²

Position	Currency	Country	Code
1	Kuwaiti dinar	Kuwait	KWD
2	Bahraini dinar	Bahrain	BHD
3	Omani rial	Oman	OMR
4	Jordanian dinar	Jordan	JOD
5	British pound	UK	GBP
6	Gibraltar pound	Gibraltar	GIP
7	Cayman Islands dollar	Cayman Islands	KYD
8	Swiss franc	Switzerland	CHF
9	Euro	Europe	EUR
10	US dollar	United States	USD

1. Kuwaiti dinar

The Kuwaiti dinar (KWD) is the world’s strongest currency, and this is for a number of reasons. For starters, Kuwait has one of the largest oil reserves in the world.

It’s also a wealthy country, whose government has prioritised the growth of the country’s private sector, the diversification of the economy and responsible budgetary policies. All of these factors have contributed to the stability and resilience of the Kuwaiti dinar.

Compare today’s KWD exchange rate.

Guide to Kuwait

Kuwait is a country in West Asia, sharing borders with both Iraq and Saudi Arabia. It’s a popular destination for expats, especially those looking to work in Kuwait’s strong oil and financial sectors.

• Population: 4,310,108³
• Main language: Arabic
• Popular dishes: Mutabbaq samak, Machboos Laham.

2. Bahraini dinar

The second most valuable global currency is the Bahraini dinar (BHD). Oil and gas again play a part in the Bahraini dinar’s strength, as a major part of the country’s income derives from exports of gas and oil.

Bahrain has also become a regional financial hub, which has attracted international capital and helped to expand the country’s economy.

Compare today’s exchange rate for Bahraini dinar.

Guide to Bahrain

Located in the Persian Gulf, the island nation of Bahrain is found off the coast of Saudi Arabia. Its capital city of Manama is a hub for expats from all over the world, and is the financial heart of the country. The Manama skyline comes alive at night with its towering glass skyscrapers and buildings reflecting beautifully on Bahrain Bay. If you’re moving to or even just visiting Bahrain, you’ll need a visa.

• Population: 1,485,509³
• Main language: Arabic
• National dish: Machboos ala Dajaj.

3. Omani rial

The Omani rial (OMR) is another of the world’s strongest currencies, again thanks to exports of oil and gas. However, the government in Oman is working on lessening the country’s dependence on oil markets. It has taken steps to support other industries in order to diversify the economy, which should help to sustain the resilience of the rial.

Explore live exchange rates for OMR.

Guide to Oman

Oman is a wealthy country which sits at the tip of the Arabian peninsula, between the UAE and Yemen. If you’re planning to move there, be prepared for extreme subtropical temperatures in the country’s desert climate. That said, the Wahiba Sands is home to stunning dunes and rare desert plants, animals and biodiversity.

• Population: 4,644,384³
• Main language: Arabic
• National dish: Shuwa.

4. Jordanian dinar

The Jordanian dinar (JOD) is high up the list of the world’s strongest currencies for a combination of reasons. It is an oil and gas exporting nation, but is less dependent on this than some of its neighbours.

Other factors contributing to the dinar’s success include the actions of Jordan’s central bank, which has taken a cautious approach to monetary and fiscal policy. It is dedicated to price stability and exchange rate flexibility, as well as keeping ample foreign exchange reserves to protect against external shocks.

Explore today’s JOD exchange rates.

Guide to Jordan

Located in the Middle East, Jordan borders Syria, Saudi Arabia, Israel, Iraq and Palestine. Its location means it is home to countless archaeological and religious marvels including Petra and the Dead Sea. Its capital is Amman, which is home to a melting pot of different ethnic groups and Middle Eastern heritage. If you’re an expat, you’ll likely head there - just make sure you apply for a visa ahead of moving to Jordan.

• Population: 11,337,052³
• Main language: Arabic
• National dish: Mansaf.

5. British pound

Now we come to a familiar currency - the British pound sterling or GBP. The pound is the fifth-strongest world currency in 2024, despite the turbulence of Brexit and uncertainty surrounding ties between the UK and the EU. The UK has also experienced political upheaval, such as the ‘mini budget’ by then-PM Liz Truss which triggered a major drop in the value of the pound.

While the pound may have experienced volatility over the last few years, it remains one of the most popularly traded currencies. Its strength and resilience is partly down to the UK’s reputation as one of the world’s biggest countries by Gross Domestic Product (GDP).

Compare prices on today’s GBP exchange rate.

Guide to the UK

The United Kingdom, situated off the northwest coast of mainland Europe, comprises four nations: England, Scotland, Wales, and Northern Ireland. The UK is a popular destination for expats from other countries, especially its capital London - a truly global city.

• Population: 67,736,802³
• Main language: English
• Popular dishes: Fish and chips, chicken tikka masala.

6. Gibraltar pound

In the sixth spot on our list is the Gibraltar pound (GIP). The driving force behind its stability and strength is its relationship to the British pound (GBP). The GIP is pegged to the GBP, and the two countries maintain a close relationship.

Compare today’s live GIP exchange rate.

### Guide to Gibraltar

Gibraltar is a British Overseas Territory located at the southern tip of the Iberian Peninsula. Despite its small size, it boasts a unique blend of British and Mediterranean culture. It’s a popular choice with UK expats, attracted by the warm weather and English-speaking community.

• Population: 32,688³
• Main language: English
• National dish: Calentita.

7. Cayman Islands dollar

The Cayman Islands dollar (KYD) derives its strength and stability due to the territory’s status as a leading global financial hub. The islands are home to a wide range of financial institutions, enterprises and investment funds, all attracted by a robust regulatory system, advanced banking infrastructure and advantageous tax policies.

Compare today’s live KYD exchange rate.

Guide to the Cayman Islands

Located in the Caribbean Sea, the Cayman Islands is another British Overseas Territory. It consists of three islands - Grand Cayman, Cayman Brac, and Little Cayman. With a thriving financial sector and laid-back island lifestyle, the Caymans attract visitors and expatriates alike. And for UK expats, it helps that the main language spoken there is English.

• Population: 69,310³
• Main language: English
• Popular dish: Conch stew.

8. Swiss franc

The 8th strongest global currency is the Swiss franc (CHF). The Swiss National Bank (SNB) ensures the stability of the currency with a range of crucial measures. This includes implementing monetary policy, maintaining price stability and supervising banks and the financial sector in Switzerland. All of this bolsters investor confidence in the Swiss franc.

Explore today’s CHF exchange rates.

Guide to Switzerland

Switzerland is a landlocked country, which borders France, Germany, Italy, Austria, and Liechtenstein. It sits right in the heart of Europe, and is one of the continent’s most popular destinations for expats. You can expect a high standard of living, beautiful scenery and good salaries too, although be aware that the cost of living is generally higher than in other countries.

• Population: 8,796,669³
• Main languages: German, French and Italian
• National dish: Raclette.

9. Euro

The euro (EUR) is one of the world’s major reserve currencies, whose value is influenced by a large number of variable factors. This is because it is the currency of 20 EU member countries, all with their own economic policies.

However, monetary policy and price stability within the region is overseen by the European Central Bank (ECB). The bank has taken steps to maintain the stability and reliability of the euro, primarily by careful management of inflation.

Explore live EUR exchange rates.

Guide to Europe (EU)

The EU is made up of 27 member states, 20 of which use the euro (EUR) as their currency. The region is famous for its single market, which allows the free movement of people, services and goods between member states. This makes it easy to move and travel between countries, although it is more difficult for citizens of non-member states such as the UK.

• No of member states: 27
• Population: 448.4 million⁴
• Main languages: 24, including English, French, German and Spanish.

10. US dollar

Last, we have the US dollar (USD) - the world’s 10th strongest currency. You might be surprised not to see the dollar higher up the list, as it is by far the most traded currency on the planet. Plus, the US economy is the biggest in the world in terms of GDP. The dollar is used to price commodities, and it’s also one of the world’s largest reserve currencies. Major US banks are also global leaders.

However, the strength of a currency is determined by complex factors, including supply and demand in the foreign exchange market.

Compare today’s USD exchange rates.

Guide to the US

The United States of America is a vast country located in North America, bordered by Canada to the north and Mexico to the south. It has 50 states, and is known as a melting pot of cultures and languages. This, and the fact that it is an English-speaking nation, means the US is attractive for UK expats - although you will need a visa or green card.

• Population: 339,996,563⁴
• Main language: English
• National dish: Hamburger.

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Strongest global currency FAQs

Have a burning question about some of the world’s strongest currencies? You might find the answer below.

What is the weakest currency in the world?

The Iranian rial (IRR) is the weakest currency in the world.⁵

What is the most traded currency in the world?

The US dollar is the world’s most traded currency.²

How is foreign currency priced?

There are two main ways that foreign currency is priced. The first uses a floating rate, which is determined by the open market through global supply and demand. If the currency is in demand, its value usually increases.

The second pricing method is a fixed rate, also known as a pegged rate. This is determined by the government through its central bank, and is set against another major global currency (such as USD or EUR, for example).

What is the most stable global currency?

The Swiss franc (CHF) is generally considered to be the most stable currency in the world in 2024.⁶

What is the strongest currency pair?

The strongest currency pair is the euro (EUR) and US dollar (USD),⁷ as it is one of the most commonly traded and both locations have large and strong economies.

How do I know which currency is stronger?

One of the easiest ways to work out which currency is stronger is to compare one currency to another, using exchange rates. A higher exchange rate suggests that a currency is stronger compared to the other.

In what country is GBP worth the most?

To determine where GBP is worth the most, you would typically look at exchange rates against other currencies. But remember that exchange rates fluctuate constantly based on factors such as economic conditions, interest rates and geopolitical events.

This means you’ll need to look at exchange rate data to see which country's currency offers the most favourable exchange rate against the British pound at any given time. When researching, watch out for hidden fees to make sure you’re getting the fairest price. At Wise, we’re transparent and upfront about the cost, we use the mid-market rate, and never hide fees*.

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Sources used in this article:

1. Nasdaq - ‘strong currency’ definition
2. Forbes - Top 10 strongest currencies in the world
3. Worldometers - Population by country
4. European Union - Facts and figures on life in the European Union
5. Forbes - Top 10 weakest currencies in the world
6. FXSSI - Most stable currencies in the world in 2024
7. Admiral Markets - Best currency pairs

All currency information from the following sources:

• Best Diplomats
• AXI

Sources last checked on date: 30-Mar-2024