Dollar-Euro all fail...no one can do anything…?
Whenever we talk about a powerful currency, the first thing that comes to our mind is the US Dollar and Euro. However, this is not the case in reality. There are many countries in the world whose currency is much stronger than the Dollar or Euro. Let us tell you today about the currency of those countries, which are considered the most powerful in the world at this time.
Official recognition to 180 currencies
There are about 195 countries around the world, but the United Nations gives official recognition to only 180 currencies. The currency of every country has its own value, but the most powerful currency is considered to be the one which has the highest purchasing power. That is, how many things can be purchased in a country with that currency and how much foreign currency is received in exchange for one unit of currency, this decides how powerful the currency of that country is.
How is the strength of the currency decided?
The strength of a currency depends on many things. Such as the economic condition of that country, inflation rate, balance of export and import, availability of natural resources, government and central bank policies and international demand. The value of the currency is weighed against the dollar or indian rupee, so that its real strength can be estimated.
The strongest currency in the world
The Kuwaiti Dinar (KWD) tops this list, whose value is Rs 280.95 in indian rupees and 3.26 US dollars in US dollars. Kuwait's economy is based on huge reserves of oil and due to no tax in the country, the demand for currency remains very high. This is the reason why KWD is considered the world's most expensive and strongest currency.
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