The US Detail Zero website showed the Kuwaiti dinar topping the list of global currencies despite inflation in terms of value, followed by the Bahraini dinar, the Omani riyal, then the Jordanian dinar, while the US dollar ranked ninth in the world.

The website quoting the CNN news in Spanish said due to the strong inflation that seems to be rising around the world, the different currencies in all countries of the world began to suffer from pressure and reflect the uncertainty about economies after suffering for two years from the repercussions of the Corona epidemic, followed by the Russian-Ukrainian war, which affected oil prices, not to mention the slowdown in the economies of some countries such as China, reports a local Arabic daily.

In this context, the CNN said that it is worth asking the question about what are the 10 most powerful currencies in the world, and before reaching the first place, we tell you in advance that it is not the US dollar, despite it being the currency most used for international operations, but rather the Kuwaiti dinar.

The station quoting the Central Bank of Kuwait said since 2007, the dinar has been linked to an undeclared basket of international currencies of Kuwait’s main trading and financial partners within the exchange rate policy aimed at maintaining and strengthening the relative stability of the Kuwaiti dinar against other currencies, in addition to protecting the local economy from the effects of imported inflation.

This stems from the fact that between 2003 and 2007 the currency was pegged to the dollar, but Kuwait changed its policy after exhausting all attempts to absorb the negative effects of the depreciation of the US dollar against major currencies over a long period.

The station asked about the reasons behind Kuwait’s possession of the strongest currency in the world, while the answer lies in oil, as the country has a rich economy, due to the amount of crude oil reserves it has, which amount to about 102 billion barrels, or 6% of global reserves, and according to the agency’s data, Oil contributes about 92% of Kuwaiti export revenues and 90% of government revenues.

In the same context, the station said that the British Encyclopedia, in its clarifications on the Kuwaiti economy, said that almost all of Kuwait’s wealth is derived directly or indirectly through foreign investment provided by oil production and processing.

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