Asia has many currencies reflecting the region’s economic growth and prosperity. The Kuwaiti Dinar is the leading currency in Asia. It is followed by the Bahraini Dinar, Omani Rial, Jordanian Dinar, and Brunei Dollar. All these currencies are managed mostly by the Central Bank of the respective country. These currencies are the economic powerhouse of the world. The economy is based on oil and gas exports and intensive agriculture. Here, this blog contains the 10 strongest currencies in Asia.

Also read, Asia’s Top 10 Most Wealthy Countries by GDP per Capita 

10 Strongest Currencies In Asia

The following are the strongest currencies in Asia: 

• Kuwaiti Dinar
• Bahraini Dinar
• Omani Rial
• Jordanian Dinar
• Brunei Dollar
• Singapore Dollar
• Azerbaijani Manat
• Turkmen Manat
• Israeli Shekel
• Saudi Riyal

1) Kuwaiti Dinar

The  Kuwaiti dinar is the official currency of Kuwait,  a small nation with significant oil reserves in the Persian Gulf. Kuwaiti Dinar (KWD) is the strongest Asian currency in 2024. The Kuwaiti Dinar was introduced in 1961. The economy of Kuwait is based on oil and gas. It is the leading member of OPEC. The Kuwaiti dinar is one of the world’s most robust currencies compared to the USD.  The British pound, the euro, and the US dollar are less expensive than the Kuwaiti dinar. 1 USD equals 0.31 KWD.  This oil-rich country uses its vast resources to make one of the most valuable currencies in the world. 

2) Bahraini Dinar

The Bahraini dinar (BHD) is Bahrain’s official currency and Asia’s second-strongest currency. The Bahraini Dinar was introduced in 1965 and replaced the Gulf Rupee. The economy of Bahrain benefits from strong financial, tourism, commerce, construction, banking, and petroleum export sectors. 70 percent of the Bahraini government’s income comes from petroleum alone. 1 USD equals 0.38 BHD. Bahrain is renowned for its stunning architectural structures, such as the National Theatre and the World Trade Center. The regular inflow of tourists increases the dinar’s worth and helps the service sector in Bahrain. 

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3) Omani Rial

The Omani Rial is equal in value to Bahraini Dinar. It is one of the top 10 strongest economies in Asia.  Oman traditionally used the Saudi Rial as its currency until it introduced its own currency in 1972. Oman is among the oldest Arab nations; its economy is based on oil and gas exports. 1 USD equals 0.38 Omani Riyal. Oman’s natural landscape is magnificent, including Hajar mountains and Wahiba Sands Desert. The country is also working on its economy in other sectors including agriculture, tourism, manufacturing, and logistics. 

4) Jordanian Dinar

The official currency of Jordan is the Jordanian dinar. The Jordanian Dinar is Asia’s fourth most highly valued and reliable currency. It has been in use since 1950. The economy of Jordan is based on agriculture, tourism, and phosphate mining, and due to the sound fiscal and monetary policies of Jordan, the Jordanian Dinar has maintained stability in the world. 1 USD equals 0.71 Jordanian Dinar. The Jordanian Dinar remains one of the most stable currencies in the Middle East. Jordan has a rich history and UNESCO Heritage Sites such as the ancient city of Petra. 

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5) Brunei Dollar

The official currency of Brunei is the Brunei Dollar, which began circulating in 1967. The nation’s oil exports are benefiting the economy to maintain its stability in the region.  It is one of the most noteworthy currencies in Southeast Asia and has been used interchangeably with the Singapore Dollar. This also highlights the cordial relationship between the two countries.  1 USD equals 1.35 Brunei Dollars. Brunei Darussalam is one of the most popular tourist destinations due to its beaches and pristine rainforests. 

6) Singapore Dollar

The Singapore Dollar is the official currency of Singapore. It has been significantly growing since it gained independence from Malaysia. It has established itself as one of the most influential currencies in Southeast Asia. It is the 13th most traded currency on the foreign exchange market, representing around 1.8% of daily forex trades. 1 USD equals 1.35 Singapore Dollars. It is used in both Singapore and Brunei. The currency’s worth has increased due to its economic strength. Many multinational companies have set up operations in the nation. 

7) Azerbaijani Manat

Azerbaijani Manat is the official currency of Azerbaijan. The currency has continued to be stable and remains one of the top 10 currencies of Asia. In the post-Soviet era, the country transformed its economy to be oil-based, strengthening its economic condition and boosting the currency’s value. 1 USD equals 1.70 Azerbaijani Manat. Azerbaijan is known for its rich history, cultural landscape, and heritage. The country works in many diverse sectors including agriculture, manufacturing, and tourism. 

8) Turkmen Manat

Turkmen Manat is the official currency of Turkmenistan, a Central Asian country. It was introduced in 1993 after the disintegration of the Soviet Union, before that Russian Ruble was used in the country. The economy of the country is based on oil and gas resources, and intensive agriculture. 1 USD equals 3.50 Turkmenistani Manat. The Turkmenistani Manat is managed by the Central Bank of Turkmenistan. The largest trade partners of Turkmenistan include Turkey, Iran, Ukraine, Russia, and Italy. 

Read About: 10 Worst Currencies in the World

9) Israeli Shekel

The Israeli Shekel, is Israel’s official currency. Despite the geopolitical tensions in the region, the currency remains resilient. Currently, it is the new Shekel, it replaced the old one in 1986. The currency is also used in the occupied Palestinian territory. Israel is the 29th world’s largest economy and the leading developed nation in the Middle East.  1 USD equals 3.72 Israeli New Shekel. The stability of the Shekel reflects its status among the top ten strongest currencies in Asia. It also shows the diversified history and the potential growth of the Shekel in the coming future.

10) Saudi Riyal

The Saudi riyal is the official currency of Saudi Arabia and was introduced in 1925.  Saudi Arabia has the largest economy in the MENA region. The stability of the Saudi Riyal can be attributed to its vast oil reserves which account for a major portion of the world’s oil supply. The Saudi Arabian Monetary Authority governs the currency. 1 USD equals 3.75 Saudi Riyal. Saudi Arabia has historical and religious significance as it is the birthplace of Islam, containing two holy cities of Makkah and Medina. Saudi Arabia has gradually relaxed its strict rules for promoting international trade and tourism. The country is making continuous efforts to diversify its economy.

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Conclusion

Asia, with its diverse history and landscape, holds the future potential for developing currencies. As the continent continues to grow, the Kuwaiti Dinar is the strongest currency in Asia followed by Bahraini Dinar and Omani Riyal. These currencies facilitate international trade and reflect the potential economic growth of the respective countries. All these countries have strategic financial policies, strong market performance, and economic resilience.  

FAQs

Why is the Kuwaiti Dinar so high? 

The strength of the Kuwaiti currency is dependent on its gas and oil-based economy.  Kuwait has the largest oil reserves and is one of the largest global exporters of oil. This makes the Kuwaiti dinar the strongest currency. 

What is the world’s weakest currency? 

Iranian Rial and the Venezuelan Bolívar are considered the weakest economies of the world due to the high inflation and poor economic conditions of the country. 

What are the major currency pairs? 

The major currency pairs include EUR/USD, GBP/EUR, AUD/USD, and USD/CAD. 

What is the safest currency in the world? 

The Swiss franc (CHF) is considered the safest currency in the world and is considered the safe-haven asset by many investors due to its strong monetary policies.