Least know Strongest and Weakest Currencies in the Globe

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Every day traders of foreign currencies, importers, exporters, and investors compare currencies of their respective nations with the US dollar and other strong currencies for the sake of determining the value and exchange rate of currencies. The value of a nation’s currency is an indicator of its economic strength and the ability of the currency to serve as an ideal medium of exchange in the international trade market as well as a store of value and investment tool. Most people with such pursuits often look at popular world currencies such as the US dollar, Japanese Yen, UK’s Sterling Pound, and the European Euro among others. However, most of them often overlook currencies of smaller nations, which are sometimes stronger than even these popular currencies. Here is an analytical look at a few of the least known, but highly valued currencies.

Gibraltar Pound
The Gibraltar pound is the official currency of the territory of Gibraltar. Gibraltar is an overseas territory of the United Kingdom, and the Gibraltar’s pound is pegged to the Sterling Pound of Britain. The Gibraltar pound was introduced in the territory in 1934, and it is one of the strong global currencies with an exchange of one pound for 1.3 USD. Gibraltar is the 151st largest exporter according to OEC, and it exports petroleum products, sea vessels, and planes and helicopters. The petroleum exports are the major cause of its currency stability even though the nation often has a negative trade balance.

Falkland Islands’ Pound
The Falkland Islands are part of the United Kingdom overseas territories, and its official currency is the Falkland Island Pound. Like the Gibraltar Pound, this nation’s currency is also pegged to the Sterling Pound of Britain. The nation’s currency was introduced in 1883. The currency is among the world’s strongest currencies because one Falkland Island pound can fetch 1.26 USD. The Island is the 178th largest exporter according to OEC, and it exports fish products, special purpose ships, meats, and petroleum products as well as aircraft. The islands positive trade balance in most years is an indicator of a strong economy and currency.

St. Helena Pound
St. Helena Pound is an official currency used in part of the United Kingdom overseas territory in the Atlantic Islands of Ascension and Saint Helena. Like the Falkland Islands and Gibraltar pound, the St. Helena pound is also pegged to the Sterling Pound of the United Kingdom. It is also a strong currency, and one St. Helena pound is equivalent to 1.25 US dollars. The Islands are the 207th largest exporter according to OEC, and they mainly export raw sugar, non-fillet frozen fish, planes, refined petroleum products, crustaceans, cars, spacecraft, and cranes. The economy and currency of the islands are relatively stable in spite of a negative trade balance in most years.

Jordanian Dinar
The Jordanian dinar (JOD) is the currency of the Jordan Kingdom. The Hashemite Kingdom is a major exporter of oil and gas. The large reserves of the oil and gas that the kingdom of Jordan has are its major source of economic success and stability. The Jordanian dinar is a reflection of this success because it is the sixth strongest currency in the globe. One Jordanian dinar is equivalent to 1.41 USD. The nation’s strong economy and other developed sectors that have benefited from oil exports make the nation’s economy and currency strong. Jordan is the 94th largest export nation, and it exports gold, wheat, fertilizers, and cars.
The least known valuable currencies may be of great interest to investors and traders, but there is a need for them to also get to know some of the least known weakest currencies to avoid where possible in trading and investment. The exchange rates of these weakest currencies are as per their status in the last quarter of 2016, but the rates may vary considering that these weak currencies are often very volatile.

Sao Tome & Principe Dobra
The Dobra ranks as the second weakest currency in the world. The currency which is denoted as STD is the official currency of the Democratic Republic of Sao Tome and Principe. One USD is equivalent to 22974 Dobra. The economy of this nation often has a negative balance of trade, and the nation relies heavily on imports, which makes the nation less likely to have a favorable exchange rate for its currency in the international market.

Vietnam Dong
The Dong is the official currency of the state of Vietnam, and it ranks as the third weakest global currency. The popular Vietnam War, which has been a common subject for the movie industry is the major reason why Vietnam has a weak economy and currency. The nation has never been able to recover from the destructions of war, which ruined its economy. Currently, one USD is equivalent to 22653 Dongs.

Laotian Kip
The Kip is the official currency of the Laos nation, and it was introduced in 1952. The currency is the 5th weakest in the top-ten ranking of weak currencies. This currency is also less rated, and one USD is equivalent to 8177 Kips. The financial crisis and subsequent inflation, which hit Asia in the late 1990s, are the major factors that led to the decline of the nation’s economy and currency’s value.

Cambodian Riel
The Riel, which is Cambodia’s official currency, is the 1oth weakest currency in the top-ten list of the weakest currencies. One needs 4045 Cambodian Riels to buy one US dollar. The Kingdom of Cambodia is one the worst hit nations with the problem of corruption, which has ruined major institutions such as the police and the judiciary system.

Malagasy Ariary
Madagascar uses the Ariary as its official currency. The Ariary is one of the recently introduced currencies, and its use was initiated in 2005. The Ariary is a very weak currency because one needs 3210 Ariary to buy one US dollar. Currently, the nation is plagued with droughts and famine, and the lack rich mineral resources and dependency on agriculture make its economy weak.

The Ugandan Shilling
The Ugandan shilling is ranked as the 11th weakest currency in the top-ten list of the weakest currencies. One USD is equivalent to 3340 Ugandan shillings. Regional wars, corruption, and political instability have been some of the reasons behind the nation’s slow economic growth, which has made both the nation’s currency and an economy weak. The nation heavily relies on commodity exports in the agricultural sector such as coffee, tea, and sugar. The economy is on a recovery path and the currency seems to be relatively stable though it still has a low value in the international market.

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