The US dollar is still the dominant currency in the world (The New Arab)
After the outbreak of the Corona pandemic around the world in late 2019, the economies of the affected countries, and their currencies, are no longer what they were before, as the epidemic succeeded in affecting the major economies and caused a slight depreciation in the value of currencies.
But by 2022, some countries succeeded in prospering and maintaining their currencies and fortifying their position in the list of the top 10 currencies in the world for the year 2022.
It is noteworthy that this list is topped by the currencies of 4 Arab countries: Kuwait, Bahrain, the Sultanate of Oman and Jordan.
1 – Kuwaiti dinar (KWD)
The Kuwaiti dinar was born in 1960, when the country gained independence from Britain, and it was equivalent to one pound at that time. But its exchange rate is now $3.28, which means that the US dollar is equal to 0.3 dinars, and thus the dinar occupies the first place in this list.
2 – Bahraini Dinar (BHD)
The Bahraini dinar exchange rate reached $2.65, which means that one dollar equals 0.37 Bahraini dinars, and therefore it came in second place after the Kuwaiti dinar.
3 – Omani Rial (OMR)
The Omani Rial was launched in 1970 as the “Saidi Rial”. Its current exchange rate is $2.6, and it comes in third place on the list of the top 10 currencies in the world.
4 – Jordanian dinar (JOD)
Despite initially pegging its currency to the US dollar at a higher rate, Jordan has managed to successfully maintain the policy of pegging its dinar adopted since 1950 for nearly two decades, and its exchange rate is now equivalent to $1.41.
5 – British Pound Sterling (GBP)
Its exchange rate is currently 1.3 US dollars, and it is one of the most traded currencies in the world, and its exchange against the dollar is the third most traded against the US currency after the euro and the Japanese yen.
And the pound sterling is not only the national currency of England, but also the currency of Scotland, Wales and Northern Ireland. It is also used as a parallel currency in 3 territories of the British Crown: Guernsey, Jersey and the Isle of Man.
6 – Cayman Islands dollar (KYD)
This dollar is the only Caribbean currency among the top 10 currencies in the world, as it belongs to a British autonomous region and is one of the best tax havens in the world for individuals and companies. Its exchange rate is now $1.2.
7 – European Euro (EUR)
It is the second reserve currency after the US dollar, as it holds a market share of 25% of all global savings, and about 25 countries have pegged their currencies to the euro at a fixed rate, and it is currently the official currency in 19 European countries, and its exchange rate is now 1.09 dollars.
8 – Swiss franc (CHF)
It is one of the most stable currencies in the world and is rarely affected by inflation. It is the currency of Switzerland and its exchange rate is equivalent to 1.08 US dollars.
9 – US Dollar (USD)
Since 1944, after the Bretton Woods agreement, the US dollar has become the “world reserve currency”, and it is currently the most traded currency in the currency market (Forex), and the demand for it is always high because it is used all over the world, while the United States, which exceeds its domestic product A total of $22 trillion is the world’s economic engine, and the dollar derives its strength from this influence.
10 – Bahamian Dollar (BSD)
It is the official currency of the Bahamas since 1966 and is linked to the green currency almost equally, and its exchange rate is now equivalent to $0.99.