5 Strongest Currencies in the World in 2024

2. Euro

Euro — the official foreign currency of European Union consisting of 19 countries — has a 21% share and second place in world foreign reserve currency. As the most commonly used official currency and over $2.3 trillion of daily Forex trade volume, the Euro is the second strongest currency in the world.

It is managed by the European Central Bank (ECB). Several countries peg their currencies to the euro. This mostly includes African countries who have established trade relations over the years by exporting to Europe and importing manufactured goods and hardware.

The EUR/USD or “Fiber” has the distinction of being the most traded pair in the world. Exchanging 1 Euro in the market will get you 1.10 U.S. Dollars.