Top 25 strongest and weakest currencies in the world in 2024 (ranked)

Have you ever thought about the strongest and weakest currencies in the world? The US dollar, British pound, and euro come to mind when considering the world's highest currencies. Surprisingly, they are not necessarily the strongest despite being the most traded. Discover the strongest and weakest currencies in the world today.

The United Nations recognises around 180 currencies as legal tender. This list is based on the prevailing currency exchange information as of 7 March 2024. The strength is measured by several factors, including exchange rates, nominal gross domestic product (GDP) per capita, and inflation rate, among other economic and political factors. Note that a more valuable foreign currency does not always mean the foreign economy is larger or stronger.

Overview of the strongest and weakest currencies in the world

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Strongest and weakest currencies in the world: top 25 list

The strongest currency is the most expensive compared to the US dollar. On the other hand, the weakest currency is the least expensive compared to the American dollar. Below is a look at the strongest and weakest currencies in the world in 2024.

Strongest currencies in the world

Discover the strongest currency in the world from the list below.

13. Canadian dollar (1 CAD = 0.74 USD)

The Canadian dollar (CAD) is the currency of Canada. It is developed and distributed by Canada’s Bank of Canada (BOC). Canadian dollar banknotes are issued in five denominations, i.e., $5, $10, $20, $50, and $100. CAD is divided into seven coins, i.e, coins 1c, 5c, 10c, 25c, 50c, $1, and $2. Currently, 1 CAD = 0.74 USD.

12. Brunei dollar (1 BND = 0.75 USD)

Brunei is a high-income nation located in South-East Asia. The Brunei dollar (BND) has been the currency of the Sultanate of Brunei since 1967. This currency is issued by the Brunei Darussalam Central Bank. Currently, 1 BND = 0.75 USD.

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11. Singaporean dollar (1 SGD = 0.75 USD)

Singapore is a high-income economy known for its business-friendly regulatory environment, which has helped stimulate its economic growth. The Singaporean dollar (SGD) is issued by the Monetary Authority of Singapore. Currently, 1 SGD = 0.75 USD.

10. US dollar (1 USD = 1 USD)

The USD (United States dollar) is the official currency of the United States of America. It is made up of 100 cents. The United States dollar (USD) is considered a benchmark currency and is the most used currency in transactions across the world. This means that 1 USD = 1 USD.

9. Euro (1 EUR = 1.09 USD)

The euro is a monetary unit and currency of the European Union (EU). It was introduced as a non-cash monetary unit in 1999. The euro is represented by the symbol €. Currently, 1 EUR = 1.09 USD.

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8. Swiss franc (1 CHF = 1.13 USD)

The Swiss franc is the currency and legal tender of Switzerland and Liechtenstein. Did you know it is also a legal tender in the Italian exclave of Campione d'Italia? This currency was formally recognised as Switzerland’s currency in May 1850. Currently, 1 CHF = 1.13 USD.

7. Cayman Islands dollar (1 KYD = 1.20 USD)

You will not miss the Cayman Islands dollar on the list of the top 10 strongest and weakest currencies in the world, albeit on the strongest end. Currently, 1 KYD = 1.20 USD. The Cayman Islands dollar (KYD) is the currency of the Cayman Islands.

6. Gibraltar pound (1 GIP = 1.27 USD)

The Gibraltar pound (GIP) is the official currency for the country of Gibraltar. The GIP is pegged at par value to the British pound. This means that 1 GIP = 1 GBP = 1.27 USD. Gibraltar began issuing its own banknotes in 1927, G and its own coins in 1988.

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5. British pound (1 GBP = 1.27 USD)

The British pound or pound sterling (GBP) is the official currency of the United Kingdom. This currency is also used in Gibraltar, Jersey, Tristan da Cunha, Guernsey, the British Antarctic Territory, the Isle of Man, the South Sandwich Islands, and South Georgia. Currently, 1 GBP = 1.27 USD.

4. Jordanian dinar (1 JOD = 1.41 USD)

The Jordanian dinar has been the currency of Jordan since 1950. This currency is issued by the Central Bank of Jordan. The Jordanian dinar is expensive because its currency is pegged to the USD. Currently, 1 JOD = 1.41 USD.

3. Omani rial (1 OMR = 2.60 USD)

The Omani rial (OMR) is the currency of Oman. This currency is divided into 1000 baisa. Oman is heavily dependent on oil exports and is attempting to diversify its economy. Currently, 1 OMR = 2.60 USD.

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2. Bahraini dinar (1 BHD = 2.65 USD)

The Bahraini dinar (BHD) is the currency of Bahrain. It is divided into 1000 fils. The BHD was introduced in 1965, replacing the Gulf Rupee at a rate of 10 rupees = 1 dinar. Currently, 1 BHD = 2.65 USD.

1. Kuwaiti dinar (1 KWD = 3.25 USD)

The Kuwaiti dinar (KWD) is the strongest currency in the world in 2024. It has the highest value per base unit. Kuwait's economy is heavily dependent on oil, making it one of the wealthiest nations in the world as measured by GDP per capita. Currently, 1 KWD = 3.25 USD.

Weakest currencies in the world

Check out the list of the weakest currencies in the world as of 2024.

12. Congolese franc (1 USD = 2,764 CDF)

The Congolese franc (CDF) is the currency of the Democratic Republic of the Congo. CDF was created in 1997, replacing the Zaïre, the currency used by the country under the rule of Mobutu Sese Seko. Currently, 1 USD = 2,764 CDF.

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11. Burundian franc (1 USD = 2,852 BIF)

The Burundian franc (BIF) is the currency of Burundi. Burundi is a small, landlocked country in East Africa. The BIF is issued and managed by the Banque de la République du Burundi. Presently, 1 USD = 2,852 BIF.

10. Ugandan shilling (1 USD = 3,906 UGX)

The Ugandan shilling (UGX) is the currency of Uganda. Until 2013, it was officially divided into cents. However, cents are no longer in use because of the substantial inflation of the shilling. Currently, 1 USD = 3,906 UGX.

9. Malagasy ariary (1 USD = 4,515 MGA)

Madagascar uses the Malagasy ariary (MGA) as its official currency. Did you know the MGA is one of the two non-decimal currencies that are still in circulation? The ariary was introduced in 1961. Currently, 1 USD = 4,515 MGA.

8. Paraguayan guaraní (1 USD = 7,278 PYG)

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The Paraguayan guaraní (PYG) is the national currency unit of Paraguay. The guaraní was divided into 100 céntimos. The céntimos are no longer in use because of inflation. Currently, 1 USD = 7,278 PYG.

7. Guinean franc (1 USD = 8,577 GNF)

The Guinean franc (GNF) is the currency of Guinea. Guinea used the common area currency of the CFA franc until 1958. The GNF is subdivided into one hundred centimes, but no centime denominations were issued. Currently, 1 USD = 8,577 GNF.

6. Uzbekistani som (1 USD = 12,484 UZR)

The Uzbekistani som (UZR) is the official currency of Uzbekistan. Uzbekistan, a Central Asian nation, replaced the ruble with the sum at par on 16 July 1994. Currently, 1 USD = 12,484 UZR. The som is often transliterated as sum.

5. Indonesian rupiah (1 USD = 15,644 IDR)

The Indonesian rupiah (IDR) is among the top 20 weakest currencies in the world. It is the official currency of Indonesia. It is issued and controlled by Bank Indonesia. The name rupiah is derived from rupyakam, the Sanskrit word for silver. Currently, 1 USD = 15,644 IDR.

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4. Sierra Leonean leone (1 USD = 19,678 SLE)

The Sierra Leonean leone (SLE) is the weakest currency in Africa. SLE is the official currency of Sierra Leone, a country on the southwest coast of West Africa. Currently, 1 USD = 19,678 SLE.

3. Lao or Laotian kip (1 USD = 20,836 LAK)

The kip is the currency of Laos since 1955. The symbol for the Lao kip is ₭. An interesting fact is that there are no coins in use in Laos. Currently, 1 USD = 20,836 LAK, making the Lao kip one of the top 10 cheapest currencies in the world.

2. Vietnamese dong (1 USD = 24,692 VND)

The Vietnamese dong (VND) has been the currency of Vietnam since 3 May 1978. It is issued by the State Bank of Vietnam. Presently, 1 USD = 24,692 VND.

1. Iranian rial (1 USD = 42,045 IRR)

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The Iranian rial (IRR) is the official legal currency of the Islamic Republic of Iran. It is subdivided into 100 dinars. Did you know that, unlike most other currencies, there is no official symbol for the Iranian rial? Currently, 1 USD = 42,045 IRR.

Which are the top 5 strongest currencies?

The top five strongest currencies in the world are the Kuwaiti dinar, the Bahraini dinar, the Omani rial, the Jordanian dinar, and the British pound.

Which is the weakest currency in Europe?

The Armenian Dram (AMD) is the weakest currency in Europe. It is the official currency of Armenia, a landlocked in the South Caucasus. Currently, 1 USD = 401 AMD.

Which is the weakest currency in the world?

The Iranian rial (IRR) is the weakest currency in the world. Currently, 1 USD = 42,045 IRR.

Which currency has the highest value in the world?

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The Kuwaiti Dinar (KWD) is the world's most valuable currency. At present, 1 KWD is equal to 3.25 USD.

Which currency is the lowest in Africa?

The Sierra Leonean leone is the weakest or lowest currency in Africa. Presently, 1 USD is equal to 19,678 SLE.

Which currency is the most stable in the world?

The most stable currencies in the world include the Swiss franc, the United States dollar, the Japanese yen, the British pound, the Norwegian krone, and the Australian dollar.

Which currency is the most widely traded in the world?

The world's most traded currency is the United States dollar, which is held by commercial and central banks worldwide for international trade. It is the world's main reserve currency.

Why is the Kuwaiti dinar so strong?

The KWD is valuable because the currency's demand is very high. The economy of Kuwait is primarily dependent on oil, and the KWD is pegged on the American dollar.

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What are strong and weak currencies?

Strong currencies are the most expensive compared to the US dollar, while weak currencies are the least expensive compared to the US dollar.

Which is stronger between the euro and the dollar?

The euro is stronger than the dollar. Presently, 1 EUR is equal to 1.09 USD.

Is your favourite country on the list of the strongest and weakest currencies in the world? By now, you have observed that the economic dominance of a nation does not necessarily mean its currency is the strongest.

Briefly.co.za recently published the easiest countries to move to from South Africa. Many South Africans relocate to other countries because of currency volatility and inadequate safety and security.

Some move in search of better education standards, political and social instability, and better-paying jobs. Roughly 915,000 South African migrants live abroad. Most of these have settled in the United Kingdom and Australia.

Source: Briefly News