Kuwait's currency, the Kuwait Dinar (KWD), has been recognized as the world's strongest currency. According to Forbes, the KWD ranks first among the top 10 strongest currencies in the world in 2024. The rankings are based on the exchange rates as of January 2024. One Kuwaiti Dinar is equivalent to 3.25 US dollars, making it the strongest currency. The rankings reflect the economic strength, stability, and diversification of Kuwait's economy [15a5e51f] [95b6bfc1].
In contrast, Forbes also released a list of the top 10 cheapest currencies in the world in 2024. The list is ranked in descending order and includes the Iranian Rial (IRR), Vietnamese Dong (VND), Sierra Leonean Leone (SLL), Lao/Laotian Kip (LAK), Indonesian Rupiah (IDR), Uzbekistani Som (UZS), Guinean Franc (GNF), Paraguayan Guarani (PYG), Cambodian Riel (KHR), and Ugandan Shilling (USH). The Iranian Rial is currently the world's least valuable currency, with 1 Indian Rupee equaling 503.76 IRR. The depreciation of these currencies can be attributed to factors such as political unrest, wars, economic instability, corruption, and reliance on commodity exports. While some currencies have shown marginal improvements, others continue to struggle. However, countries with rich natural resources and efforts toward political stability have the potential to improve the value of their currencies in the future [1ada4e86] [15a5e51f].
A new ranking of the world's strongest currencies in 2024 shows that the US dollar ranks low, coming in last place. The top 10 strongest currencies include the Kuwaiti Dinar, Bahraini Dinar, Omani Rial, Jordanian Dinar, British Pound and Gibraltar Pound, Cayman Islands Dollar, Swiss Franc, Euro, and the US dollar. The US dollar, despite being considered an international trade currency, does not rank among the world's strongest currencies. The ranking is based on exchange rates and factors such as economic fundamentals, stable macroeconomic environments, and robust sectors like oil and gas. The US dollar's position as the world's strongest currency has been surpassed by other currencies on the list [7e145794] [713bdfc7].
In light of Kuwait's efforts to diversify its economy, the Turkish Minister of Trade, Omer Bolat, has announced plans to invest $5 billion in Kuwait. This investment aims to strengthen economic cooperation and bilateral trade between the two countries, further supporting Kuwait's diversification initiatives [d4e4b57d].
Meanwhile, Indonesia has been ranked among the top 5 weakest currencies in the world in 2024. The weakening of the Indonesian currency reflects economic challenges and factors such as inflation and trade imbalances. However, the Indonesian government has been implementing measures to stabilize the currency and improve the economic situation [0b27b062].
In other news, a list of the top 5 coldest cities in the world has been released, with two cities in Canada making the list. The cities of Yellowknife and Whitehorse in Canada are known for their extremely cold temperatures. Other cities on the list include Norilsk in Russia, Barrow in Alaska, and Ulaanbaatar in Mongolia. These cities experience freezing temperatures due to their geographical locations and climatic conditions [0b27b062].
Additionally, fishermen from several Southeast Asian countries, including Indonesia, have been frequently stealing fish in Indonesian waters. This has become a concern for the Indonesian government, as it affects the livelihoods of local fishermen and depletes fish stocks. Efforts are being made to address this issue through increased surveillance and cooperation with neighboring countries [0b27b062].