Forbes lists Kuwaiti dinar as ‘strongest currency’ in 2023; Bahraini dinar second, Omani rial 3rd

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KUWAIT CITY, May 10: The Kuwaiti dinar remains the most powerful currency in the world on the list of the Forbes magazine for 2023. The magazine said, “We have analyzed the most powerful currencies based on the number of foreign currency units that must be paid in exchange for one US dollar,” reports Al-Anba daily. Exchange rates are obtained by the magazine’s currency conversion section based on data issued by Open Exchange at the time of writing this report. Below is the “Forbes” list of the 10 most powerful currencies in the world for the year 2023, said the daily.

The Kuwaiti dinar is the strongest currency in the world where the unit buys 3.26 US dollars (or in other words, the US dollar equals 0.31 Kuwaiti dinars), and Kuwait earns much of its wealth from being a leading global exporter of oil and in second place comes the Bahraini dinar as the second strongest currency in the world, as one Bahraini dinar buys 2.65 US dollars The Omani rial is the third-strongest currency in the world, with 1 rial buying 2.60 dollars (or $1 equals 0.38 Omani rial).

In fourth place is the Jordanian dinar as the Jordanian dinar buys 1.41 US dollars (or one dollar equals 0.71 Jordanian dinars); then comes the British pound in fifth as the British pound buys 1.20 US dollars; in sixth place is the Cayman Islands dollar buying 1.20 US dollars; in seventh place is the Gibraltar pound also buying 1.20 US dollars; followed by the Swiss franc in eighth position as one Swiss franc buys 1.07 US dollars; the Euro — the official currency of the Eurozone used in 20 of the 27 countries that are part of the European Union and entered in circulation in 2002 and is floating freely — trails in ninth position buying 1.07 US dollars (or one US dollar equals 0.94 Euros). And finally the US dollar is the tenth strongest currency in the world, and it is considered the basic unit for measuring the value of other currencies against it. It can be said that all other global currencies circulating around the world are worth less than the US dollar.

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