10 most valuable currencies in the World

The United Nations officially recognises 180 currencies worldwide as legal tender and Kuwaiti Dinar has been declared as the strongest currency in the world despite dominance of the US dollar, that occupied the tenth spot in the latest rankings. The Bahraini Dinar and Omani Rial occupy the second and third spots respectively, Forbes reported.According to the report, the strength of the currency is determined by evaluating the number of goods and services which can be purchased with one unit of the national currency and foreign currency obtained in exchange.
The first in the list is the Kuwaiti Dinar.One Kuwaiti Dinar is equal to Rs 270.23 and $3.25. Next comes The Bahraini Dinar, which is valued at Rs 220.4 and $2.65. Next it the list is Omani Rial (Rs 215.84 and $2.60), followed by Jordanian Dinar (Rs 117.10 and $1.141), Gibraltar Pound (Rs 105.52 and $1.27), British Pound (Rs 105.54 and $1.27), Cayman Island Dollar (Rs 99.76 and $1.20), Swiss Franc (Rs 97.54 and $1.17) and the Euro (Rs 90.80 and $1.09).However, the US dollar, despite being the most widely traded global currency, is tenth on the list. The Euro is the official currency of Eurozone which comprises 19 member states of the European Union. It is the second-most traded currency and holds the ninth spot.According to Wednesday's exchange rate published on International Monetary Fund's (IMF) website, India ranks 15 with value listed as 82.9 per US Dollar.
Kuwaiti Dinar, which holds the pole position, has consistently ranked as the world's most valuable currency since the time it was introduced in 1960. The reason behind the success of the currency is Kuwait's economic stability, which is driven by its oil reserves and tax-free system.Forbes also said that the Swiss Franc, the currency of Switzerland and Liechtenstein, is widely regarded as the most stable currency in the world.As per the Forbes report, economic growth, political stability, global demand and natural resources are determining factors to measure the strength and value of a currency.