5 Best Performing Currencies Against the US Dollar

This article discusses the 5 Best Performing Currencies Against The US Dollar. If you want to get detailed analysis on the global economy, trade and banking sector and other Best Performing Currencies Against The US Dollar, you can head on to 15 Best Performing Currencies Against The US Dollar.

5. Pound Sterling 

1 USD = 0.79 GBP

The British pound (GBP) holds the position as the joint fifth-strongest currency globally, with an exchange rate of 1 British pound buying 1.27 US dollars (or US$1 equals 0.79 British pounds).

Despite not being the strongest currency, the GBP maintains its distinction as the oldest currency still in use. Additionally, it stands as the fourth most traded currency globally, contributing to approximately 12.8% of daily trades on the foreign exchange market. Britain, ranked as the sixth-largest country by Gross Domestic Product (GDP) by the World Bank, has had the pound in use since the 1400s. In 1971, the currency underwent decimalization. The pound operates as a free-floating currency, not pegged to other currencies, allowing its value to be determined by market forces.