Faced with the global high -inflation that seems to have only increased, currencies of various countries have begun to be impacted, and the economies of various countries reflect more uncertainty. Since the outbreak of the Russian and Ukraine War in February this year, the euro has depreciated all the way. On July 12, the euro ushered in the lowest point worth nearly 20 years. The exchange rate against the US dollar came to 1 to 1.0002, which was close to the parity. Many Chinese assets are affected, but will such a strong US dollar be the best choice for Chinese risk aversion?
According to the analysis of foreign exchange trading platform FOREX.com, although the US dollar is the most widely used currency in the market and the benchmark for calculating other currency values, in fact, the most powerful currency in the world is Kuwaitana (Kuwait’s currency unit),, the currency unit of Kuwait). Published by the Central Bank of Kuwait, Kuwaitana is the highest exchange rate monetary unit. As of the release of this article, 1 Kuwaitnar is equal to $ 3.26. Followed by Barein-Denal currency, Omanria, Jordan, the pound, the Cayman, the Cayman, the euro, the Swiss franc, the US dollar and the Canadian dollar.
Most people may have never heard of Kuwaitanar, how do small countries like Kuwait have the world’s strongest currency? The answer is oil, the country’s economy is very rich, because it has a large number of crude oil reserves: about 102 billion barrels, accounting for 6%of the world reserves. Petroleum accounts for 92%of Kuwait’s export revenue and 90%of government revenue.
Post time: Jul-29-2022