FX.co ★ Top 5 currencies with higher value than USD

Kuwaiti dinar

The strongest competitor to the greenback nowadays is the Kuwaiti dinar. 1 KWD is now trading at about 3.25 USD. Such stability and the high value of the Kuwaiti currency are ensured by the economic power of the country. Today, this Asian economy is recognized to be a significant oil exporter in the global market. The Kuwaiti dinar was introduced in 1960 with an initial peg to the pound sterling, but over time it was pegged to a currency basket.

Bahraini dinar

The Bahraini dinar, which is now trading at nearly USD 2.65 per 1 BHD, ranks second on the list. The high value of this currency is also explained by the robust economy in the country. Like its neighbor Kuwait, Bahrain is one of the world's major oil exporters. The country has also asserted itself as a key player in the global financial arena. The dinar was launched into circulation in the mid-1960s with a rigid peg to the US dollar.

Omani rial

The Omani rial takes the third place on the list. Currently, 1 OMR is trading at almost 2.60 USD. The high value of this currency is also driven by the strong domestic economy which rests on the exports of petroleum products. Introduced in the 1970s, the Omani rial was pegged to the US currency, which contributed to its rapid appreciation in the global market. A special feature of this currency is the standard division into 1,000 smaller units called baisa.

Jordanian dinar

The fourth place in the ranking is occupied by the Jordanian dinar. The current exchange rate is 1 JOD to 1.41 USD. The strength of the Jordanian dinar, which was adopted in the early 1950s, comes from its peg to the US currency, which ensures its stability regardless of the country's economic problems. Jordan is less dependent on energy exports than its neighbors. Its economy is currently characterized by slow growth and mounting levels of public debt.

Pound sterling

The British pound rounds out the top 5 most valuable currencies against the US dollar. Nowadays 1 GBP is trading at about 1.27 USD. The pound sterling is a free-floating currency. It means that its value is determined by market conditions, making GBP stable and attractive to investors. The pound sterling is considered one of the oldest monetary units in the world. It was introduced into circulation back in the 15th century. Besides, the British pound ranks fourth in terms of trading volume in the world currency market as its share in all daily transactions is about 13%.