What are the strongest currencies in the world in 2015? Post to the collapse of the Gold Standard and its variations, the international trade sector entered a new era which spins around the floating currency exchange rating system that uses the bid – ask spread of each currency versus the United States Dollar. As the list of the 16 strongest currencies in the world in 2015 unfolds as a follow up to the 10 most expensive currencies in the world, we will come to realize that the United States Dollar is not the strongest unit of account in the world in terms of value. What makes USD the practically the most valuable currency in the world in terms of demand is its usage as the world’s reserve currency. Simply this means that the USD is widely used in international commerce, and specifically when it comes to crude oil. In addition, the US Dollar is also closely linked to commodities such as Gold, Platinum, and Silver, with each pivot of the value of USD influencing the prices of precious metals and oil significantly. So, how did the USD become the most valuable and influential unit of account in the world? Why are all currencies pegged to the United States Dollar?
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This strong influential relation between the United States Dollar and commodities such as crude oil and precious metals is known as the “Petrodollar” system to which we have come into as a result of the 1973 deal between the Saudi Arabia and the United States. The deal implementation led to exclusive usage of USD when an actor was buying crude oil from Saudi Arabia. In 1975, the Organization of Petroleum Exporting Countries or simply OPEC adopted the US Dollar as the only monetary mean for purchasing oil. This development created a forced, artificial demand for USD. All national economies had and still have, despite BRICS’s attempts, to use United States Dollar for every barrel of oil they buy.
Using data that combines the exchange rates of 25 National units of account dating from January 1st to September 30th, we present you the 16 strongest currencies in the World in 2015 versus the United States Dollar. In addition to this, we have also collected data regarding the average salary in each state on our list, an important factor especially for expats who are seeking other national economies in order to build their wealth. Of course it should be noted that strong currencies do not necessarily result in healthy and strong real economies, while in addition be aware that several governments manipulate the value of their currencies in order to control the flows of their imports and exports.
16. Saudi Arabia Riyal
With 1 Dollar one can buy 3.75 Riyal on average so far in 2015. Despite the ongoing crisis, Saudi Arabia holds one of the highest average salary rates of $12.100 per month and remains OPEC’s largest crude oil exporter.
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15. United Arab Emirates Dirham
In average for this year one can purchase $1 using 3,67 Dirham. The average monthly wage in UAE is $10.206, with UAE’s capital, Dubai developing to a massive economic center in the region.
14. Qatari Riyal
Qatari Riyal equals to 3.67 United States Dollars in average during the two first quarters of 2015, although as I write this article its exchange rate versus the USD has improved significantly. Qatar is an oil-rich country likewise Saudi Arabia and the UAE. Aside being the base of powerful international private corporations, Qatar will host the 2022 World Cup. Regarding salaries, Qatar comes second behind Saudi Arabia with an average of $11.473 per month.
13. Brazil’s Real
With 3.16 Real in average one can buy $1, yet the rate as we speak has improved similarly as has the Qatari Riyal during this last quarter of 2015. The average monthly salary in Brazil is $2.756, and despite the fact that Brazil doesn’t hold fancy economic figures in comparison to other states on our list, the South American giant, member of the BRICS group is a rapidly growing economy with a lot of potential especially in the international trade sector, with a 2km long platform designed to harbor Chinese mega-vessels on its way.
12. Turkish new Lira
Turkey’s booming economy has attracted hundreds of thousands of expats from all over the world, and although the Turkish new Lira is losing ground currently against the US Dollar, during the first quarters of 2015 one could buy $1 using 2.66 TRY. The government has set as its priority to increase the value of Yeni Lira in the market and control inflation.
11. New Zealand Dollar
Aside being known for its sheep and its picturesque landscape, New Zealand has a strong economy that is based on mining and the energy sector. 1.4 NZD can buy on average so far in 2015 $1 and the average salary per month is $5.500.
10. Libyan Dinar
The long-now troubled state of Libya still has a strong currency thankfully to its oil production. 1 US Dollar worth in average so far in 2015 1.38 Libyan Dinars, with the average monthly salary at around $3.842.
9. Canadian Dollar
Neighboring state to the United States, Canada has a vast land, a resource-rich and relatively low population with access to the Arctic and its oil. 1 Canadian Dollar can buy $0.76 at the moment showing signs of improvement comparing to the first quarters of 2015. The average monthly salary in Canada is $4.245.
8. Azerbaijani Manat
Rich in Natural Gas, Azerbaijan completes the first half of the 16 most valuable currencies in the world in 2015. At the moment 1 Manat equals to $0.96, and the average bid so far in 2015 was 0.99 Manat for $1. The average monthly salary in Azerbaijan is approximately $3.500.
7. Swiss Franc
Switzerland is a banking haven and a very strong economy. $1 equals in average to 0.95 CHF, and the Swiss unit of account is used by many as the main currency of their savings. The average monthly salary in Switzerland is $9.374.
6. Euro
Eurozone’s currency, Euro equals to $1.12. The spread was wider, yet USD has been performing really well during the second half of the year, minimizing the difference.
5. Jordanian Dinar
The Jordanian Dinar is the base for the top 5 most valuable currencies versus the United States Dollar, with an exchange rate of 0.71 on average using the USD as the base currency. Jordan’s average monthly salary is around $2.700.
4. Great Britain’s Pound
An American tourist who visits the United Kingdom needs to pay in average $1.58 to get 1 pound. Great Britain’s Sterling, a currency that became powerful during the Colonial era still remains a top unit of account used in savings accounts. The average monthly compensation in England (not the UK as a whole) is $6.785.
3. Bahraini Dinar
Bahrain holds a strategic location that promotes international trade. With developing economy and industry, Bahrain’s economy is one of the strongest and most stable in the region. 1 BHD equals to $2.56 on average, while the average monthly salary in the country stands at around $3.500.
2. Omani Riyal
Oman similarly holds a key location that promotes international trade. 1 OMR buys 2.6 United States Dollars in average during 2015. As a country is not that attractive, yet an average monthly comprehension of around $4.100 may convince you to give Oman a shot as an expat.
1. Kuwaiti Dinar
The list of the 16 strongest currencies in the world in 2015 is completed with Kuwait which enjoys the fruit of a booming economy based on trade and oil. Kuwaiti Dinar equals to an average of $3.30 US Dollars! The country’s average salary is attractive and stands at $3.650 per month.
Which of these currencies you trust more? In which would you invest and expect to see them listed as the most valuable units of account also next year?
