FX.co ★ 5 most valuable currencies in 2023

1. Kuwaiti dinar (KWD)

The Kuwaiti dinar is the world’s most expensive currency in 2023. Currently, 1 KWD equals $3.26. The currency is in high demand due to the fact that KWD is pegged to USD and the country’s extensive crude oil and natural gas resources. Notably, Kuwait is one of the world’s largest exporters of these commodities. Many countries use the Kuwaiti dinar for buying oil and gas, which ensures continuing growth in the KWD exchange rate.

2. Bahraini dinar (BHD)

The Bahraini dinar is the second most valuable currency in the world. These days, 1 BHD costs $2.65. Like KWD, the Bahraini dinar is strong because it is pegged to the greenback and its country is an active commodity market participant. The lion’s share of revenue in Bahrain comes from exports of oil and natural gas. In fact, these commodities are the most exported products that the country supplies to the global market.

3. Oman rial (OMR)

The Oman rial is the world’s third most valuable currency. The purchasing power of 1 OMR equals $2.60. Oman’s national currency, which is also pegged to USD, owes its stability to a strong economy and a relatively low inflation rate. The greatest part of Oman’s GDP comes from selling crude and natural gas to the world market.

4. Jordan dinar (JOD)

The Jordan dinar is the fourth strongest currency on the list. Nowadays, you can buy $1.41 with 1 JOD. The currency is pegged to the greenback, which ensures its strength. What is more, JOD enjoys one of the most stable exchange rates thanks to a calm and safe political situation within the state. Unlike its neighbors, the Kingdom of Jordan is involved in neither internal nor external conflicts.

5. Pound sterling (GBP)

The pound sterling rounds the top 5 currencies with the highest purchasing power. In fact, it came along over 6 centuries ago. These days, you can buy 1,22 USD with 1 GBP. The strength of the sterling comes from a steady economic situation in the United Kingdom. Although the country was on the verge of a recession on the back of monetary policy tightening last year, the British economy is still one of the most robust in the world. In fact, the UK has the sixth-largest economy by GDP across countries.