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Clare » January 16th, 2025
The 10 most powerful currencies in the world.. Arab countries top the list
1/16/2025
The strength of the currency is an important indicator of the health of the national economy, political stability, and the financial policies followed.
While many factors influence the value of currencies, sustained economic performance and institutional stability often determine a currency’s standing in global markets.
Understanding these dynamics is essential for investors who trade the foreign exchange market and analyze international financial trends.
The Bankrate website monitored, in a report reviewed by Al Arabiya Business, a list of the strongest currencies in the world.
1- Kuwaiti Dinar
The Kuwaiti Dinar is currently the strongest currency in the world, with traders getting 0.31 Kuwaiti Dinars for every US Dollar.
It is worth noting that Kuwait has about 7% of the world’s oil reserves, which greatly supports the value of its currency.
2- Bahraini Dinar
The Bahraini Dinar is the second strongest currency in the world, with traders getting 0.38 Bahraini Dinars for every US Dollar.
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Bahrain is an oil-rich country, which contributes significantly to the strength of its currency, and the attractive investment environment enhances the stability of the Bahraini dinar.
3- Omani Rial
The Omani Rial is the third strongest currency, with traders getting 0.39 Omani Rial per US Dollar.
Oman has been producing more than 1 million barrels of oil per day since the 1960s, boosting the value of its currency.
4- Jordanian Dinar
The Jordanian Dinar is a strong currency, ranking fourth, with traders getting 0.71 Jordanian Dinars for every US Dollar.
Although Jordan does not have huge oil reserves, its diverse resources such as minerals contribute to the strength of its currency.
5- British pound
The British pound is the fifth strongest currency in the world, with traders getting 0.82 pounds to the US dollar.
Sterling’s long history and economic stability, as well as London’s stability as a global financial centre, are factors contributing to its strength.
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6- Gibraltar pound
The Gibraltar pound is pegged to the British pound in value, with traders receiving 0.82 Gibraltar pounds to the US dollar.
This currency is strongly linked to the pound sterling, along with Gibraltar’s thriving tourism and financial sector, which boosts its value.
7- Cayman Islands Dollar
The Cayman Islands dollar ranks seventh, with traders getting 0.83 Cayman dollars to the US dollar.
The Cayman Islands’ favourable tax regime, which lacks direct taxes, contributes to the strength of the currency, as well as the high economic activity.
8- Swiss Franc
The Swiss franc is the eighth most powerful currency in the world, with traders getting 0.92 Swiss francs per US dollar.
The Swiss franc is known as a safe haven for investors in times of international crises, as well as the stability of Swiss monetary policy.
9- Euro
The Euro is the ninth most powerful currency in the world, with traders getting 0.98 Euros per US Dollar.
The euro is used in 20 EU countries, which strengthens its strength, along with the presence of economically strong countries such as Germany and Spain.
10- US Dollar
Despite its global dominance, the US dollar is the tenth most powerful currency.
Since the end of World War II, the dollar has become the world’s premier reserve currency, allowing the United States to borrow at low interest rates.
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While the Kuwaiti dinar is the strongest currency, the Swiss franc is considered one of the most stable currencies thanks to Switzerland’s political neutrality, low debt-to-GDP ratio, and conservative monetary policy. LINK
Source: Dinar Recaps
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Clare » January 16th, 2025
European and Gulf officials.. Baghdad to receive important leaders in the coming days
1/16/2025
Informed sources revealed on Thursday that the Iraqi capital, Baghdad, will receive important international leaders in the coming few days.
The sources told Shafaq News Agency, “Baghdad will witness a series of successive visits by the foreign ministers of France, Italy, and the European Union countries, in addition to the ministers of the countries of the region (neighboring and regional), and the Gulf countries in the coming days.”
According to the sources’ information, “the visit of important international leaders to Baghdad comes after the end of the Gaza and Lebanon page, and therefore the Syrian file must be discussed in detail with Iraq, and these visits will precede the Baghdad Dialogue Conference scheduled to be held next month.”
The sources explained that “the ministers or representatives of those countries, specifically the major countries active in global changes, will convey their governments’ visions regarding the Syrian file in parallel with the changes taking place in the region.” LINK
In London.. Iraq signs new memoranda of understanding with British companies in various fields
1/15/2025
Today, Wednesday, in the British capital, London, a ceremony was held to sign a number of memoranda of understanding between the Iraqi public and private sectors and a number of British companies and institutions, in a number of fields, in the presence of the Deputy Prime Ministers (Minister of Foreign Affairs and Minister of Oil).
The Iraqi Prime Minister’s Office said in a statement received by Shafak News Agency that a memorandum of understanding was signed between the Ministry of Construction and Housing/General Water Department and IHS Consulting Company, in the field of providing experimental studies for the comprehensive water agreement.
Another MoU was signed between Trade Bank of Iraq (TBI) and Standard Chartered Bank.
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The ceremony witnessed the signing of a memorandum of understanding between Al-Rida Group and the British James Cubitt Company regarding Basra water.
Meanwhile, an ammonia supply contract was concluded with the British company Kibit regarding the establishment of a black urea project for the Iraqi private sector.
A memorandum of understanding was also signed with Jaguar Land Rover to open a branch of the company in Basra Governorate, as well as signing another memorandum of understanding regarding the desalination of Basra water.
While the Iraqi Noor Al Hilal Company signed a memorandum of understanding with the British company Evono Ball, regarding the establishment of chlorine and soda factories.
The Iraqi Najjah Investor Company also signed a memorandum of understanding with Inovo Pool Company regarding the supply of chlorine and soda.
In the field of scientific cooperation, a memorandum of understanding was signed in the educational aspect between Al-Mamoun University College and SOAS University of Middle Eastern Studies, to exchange missions and joint cooperation, making it the first Iraqi private university to sign an economic and academic memorandum of understanding with a reputable British university. LINK
Source: Dinar Recaps
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