It will make you wonder that top four strongest currencies in the world are held by the Muslim countries. Several factors such as economic situation, inflation rate, and natural resources play a key rate to make them strongest across the globe.
The strength of a currency cannot only be attributed to decrease in exchange rate as countries’ economic stability, value of a currency, stability, interest rates and others are the major forces behind the power of a currency.
As per various rankings, the top four strongest countries including Kuwaiti Dinar (KWD), Bahraini dinar (BHD), Omani Rial and Jordanian dinar (JOD).
Kuwaiti Dinar
The title of the world’s strongest currency is held by the Kuwaiti dinar (KWD). One of the basic factor behind the strong economy of the country is its oil reserves, which are one of the largest in the world.
The country has put special focus on growth of private sector through economy friendly policies, allowing diversification in its financial structure. Such factors make the Kuwaiti Dinar stable and resilient.
Bahraini Dinar
The Bahraini dinar (BHD) is the second most powerful currency in the world with oil and gas reserves playing a lead role in the country’s economy.
Bahrain has emerged as regional financial hub, attracting significant foreign investment.
Omani Rial
The Omani rial (OMR) ranks third strongest currency in the world. The country’s significant exports in oil and gas sectors make its economy stable and resilient, factors that enhance the strength of the currency.
The country, on the other hand, is making efforts to introduce diversification in its economy by cutting dependency on the oil exports.
Jordanian dinar (JOD)
Jordan, a Muslim country in Middle East, holds the world’s fourth strongest economy in the world, thanks to its oil exports and its cautious monetary and fiscal policies.
