Top 10 Strongest Currencies in the World 2020

Top 10 Strongest Currencies In The World In 2020
Hello Displorers, welcome back to another exciting video presented to you by Displore. In this video, we are taking a look at the top 10 strongest currencies in the world. The strength of a currency is determined by the degree of purchasing power of the currency in other countries. The strength of a currency is basically the strength of the economy of the country that powers that currency as well as the demand for the currency in the world. A strong currency’s is one whose value does not fluctuate easily in the exchange rates and one which has international market demand. Sometime many believe that the US dollar is the strongest currency in the world but that’s not true. The US dollar is the most traded because 64 percent foreign exchange transaction are made in USD, followed by euro that is only 19.7 percent.That’s why, it’s quite reasonable to base this list by setting US Dollar as standard unit for measuring value of currencies.
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There are about 150 Currencies in the world but Here are the top 10 strongest ones.
10. Canadian Dollar: $0.75 = 1USD
The Canadian dollar is the currency of Canada. It is divided into 100 cents and 1 CAD = 0.75 USD. The Canadian dollar is the fifth largest reserve world currency. Canadian dollar is often called the «loonie» in honor of the bird depicted on the coin worth 1 dollar.
9. US Dollar: 1USD = 1USD
It’s the currency of the United States of America and is the most traded and used currency in the world. It also holds the title of the world’s primary reserve currency with 62.3% world reserve and is held by both central and commercial banks all over the world. The US central bank is called the Federal Reserve Bank commonly referred to as "The Fed". Given that the USD is the most traded currency in the forex market, it can be paired with all other major currencies. Common names for the USD include the greenback, buck, green, dough, smacker, bones, dead presidents, scrillas, and paper. Owing to USA world economic leadership, its currency achieved such a title as “World Reserve Currency” which means that you can make dollar payments everywhere, in any country.
8. Swiss Franc: 1 CHF = 1.01 USD
Swiss Franc, which is the official currency of Switzerland and Liechtenstein. At roughly 1.01 USD for each CHF, it’s currently may not be the best conversion rate to USD in this video but however, the Swiss Franc still comes in at number nine for good reason. Switzerland is one of the wealthiest countries in the world and has a solid track record in banking and finance. Having some of the world’s strictest monetary policies and lowest debt levels has drawn many an investor to view the Swiss Franc as a “Safe Bet”, choosing to store some of their wealth in the official currency of Switzerland. Also known for being the sixth most traded currency in the world, the Swiss Franc is expected to retain its value in the foreseeable future. Switzerland is not only one of the richest countries in the world, but it is also one of the most stable. Its banking system had long been known for its formerly resolute “Bank Secrecy”. Besides, its high-tech goods are very well known all around the globe.
7. European Euro: 1 EUR = 1.11 USD
The EURO is the primary currency of the European Union and was adopted on January 1, 1999. It holds the title as the second world reserve currency and is the official currency of 19 of the 28 member countries in the EU. The currency first began virtually, in the form of traveler cheques and electronic bank transfers, and physical notes and coins appeared a few years later in 2002. The introduction of the EURO was meant to increase the economic interdependency of trade between all EU members that choose to adopt it. One EURO is approximately equivalent to 1.10 USD at the time of writing. The euro currency has strengthened over the past few years rising to be one of the most powerful currencies. Partially, its strength is explained by the fact that it is the official world currency in European countries among which you will find several economically developed countries.Besides, Euro is the second reserve world currency enveloping 22.2% of all world savings.

Видео Top 10 Strongest Currencies in the World 2020 канала Displore