What are the strongest currencies in the world in 2015? Post to the collapse of the Gold Standard and its variations, the international trade sector entered a new era which spins around the floating currency exchange rating system that uses the bid – ask spread of each currency versus the United States Dollar. As the list of the 16 strongest currencies in the world in 2015 unfolds as a follow up to the 10 most expensive currencies in the world, we will come to realize that the United States Dollar is not the strongest unit of account in the world in terms of value. What makes USD the practically the most valuable currency in the world in terms of demand is its usage as the world’s reserve currency. Simply this means that the USD is widely used in international commerce, and specifically when it comes to crude oil. In addition, the US Dollar is also closely linked to commodities such as Gold, Platinum, and Silver, with each pivot of the value of USD influencing the prices of precious metals and oil significantly. So, how did the USD become the most valuable and influential unit of account in the world? Why are all currencies pegged to the United States Dollar?
This strong influential relation between the United States Dollar and commodities such as crude oil and precious metals is known as the “Petrodollar” system to which we have come into as a result of the 1973 deal between the Saudi Arabia and the United States. The deal implementation led to exclusive usage of USD when an actor was buying crude oil from Saudi Arabia. In 1975, the Organization of Petroleum Exporting Countries or simply OPEC adopted the US Dollar as the only monetary mean for purchasing oil. This development created a forced, artificial demand for USD. All national economies had and still have, despite BRICS’s attempts, to use United States Dollar for every barrel of oil they buy.
Using data that combines the exchange rates of 25 National units of account dating from January 1st to September 30th, we present you the 16 strongest currencies in the World in 2015 versus the United States Dollar. In addition to this, we have also collected data regarding the average salary in each state on our list, an important factor especially for expats who are seeking other national economies in order to build their wealth. Of course it should be noted that strong currencies do not necessarily result in healthy and strong real economies, while in addition be aware that several governments manipulate the value of their currencies in order to control the flows of their imports and exports.
16. Saudi Arabia Riyal
With 1 Dollar one can buy 3.75 Riyal on average so far in 2015. Despite the ongoing crisis, Saudi Arabia holds one of the highest average salary rates of $12.100 per month and remains OPEC’s largest crude oil exporter.