The US dollar is a powerful currency in the world. It’s the most traded currency in the global market by a wide margin.
Surprisingly, however, the US dollar isn’t the strongest of 180 currencies recognized as legal tender in United Nations (UN) member states. Here, we’ll cover the currency worth more than US dollar that black travelers should know.
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Kuwaiti Dinar (KWD)
The Kuwaiti dinar is the world’s strongest currency. $1 equals 0.31 KWD, or put differently, 1 KWD will buy $3.26. Kuwaiti is situated on the northern edge of Eastern Arabia at the tip of the Persian Gulf between Iraq and Saudi Arabia. The country has a coastal length of about 500 km (311 mi).
Kuwaiti generates most of its revenue from oil exports. The KWD was introduced in the 1960s and was originally pegged to the British pound. However, it was later re-pegged to an undisclosed basket of currencies.
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Bahraini Dinar (BHD)
The Bahraini is another currency worth more than the US dollar. It’s the second-strongest currency in the world. Currently, $1 is equivalent to 0.376 Bahraini dinar.
The Kingdom of Bahrain is a Middle East island located in the Persian Gulf between Saudi Arabia and Qatar. Bahraini is located in one of the world’s largest oil-producing regions. Like Kuwaiti, Bahraini generates its revenues from oil and gas exports.
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Omani Rial (OMR)
The Omani rial is the third well-performing currency in the world, and it’s worth more than the US dollar. Omani sits on the Southeast coast of the Arabian Peninsula between the Persian Gulf and the Arabian Sea.
Like Bahraini and Kuwaiti, Omani generates its revenue from oil and gas exports. The Omani rial became a legal tender in the 1970s. And the currency is pegged to the dollar, $1 is equivalent to 0.385 Omani rial.
Jordanian Dinar (JOD)
Jordan sits geographically in West Asia, South of Syria, west of Iraq, northwest of Saudi Arabia, and east of Palestine. The country’s currency, the Jordanian dinar, is the fourth strongest in the world.
The Jordanian dinar to US dollar exchange remained stable at $1.41 from June 2022 to June 2023. Within this period, there were no fluctuations because the currency was pegged to the US dollar.
Unlike Bahraini, Omani, and Kuwait, Jordan is a largely landlocked country that’s less dependent on oil and gas exports. Over the years, the country has battled with rising debt and sluggish economic growth. The Jordanian dinar became officially recognized as a currency in 1950 and is pegged to the US dollar.
British Pound (GBP)
Over the past decades, Bank of England (BOE) policymakers have consistently kept up with developments in other countries. They have managed to make the British pound currency worth more than US dollars.
In the past, the GBP was worth more than the US dollar. However, it fell against the US dollar in the major parts of the 20th century. The depreciation stopped in the 1980s and the GBP was once again worth more than the US dollar.
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Cayman Islands Dollar (KYD)
The Cayman Islands dollar is yet another currency worth more than US dollar, with 1 KYD buying $1.20. This currency entered into circulation in the 1970s and was pegged to the dollar. The Cayman Islands is a British overseas territory in the Western Caribbean Sea.
The Euro is the officially recognized currency of 20 out of 27 European Union countries. Euro banknotes and coins became a legal tender in 2002. The forex market sets the Euro price based on demand and supply relative to other currencies.
Despite being considered the most powerful currency in the world, many currencies are worth more than the US dollar. The seven discussed here are stronger than it. Check these guides on Amazon if you would love to learn about the global forex market.
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