5 Most Powerful Currencies in the World

2. Euro

With a 21% share in reserve currency, and over $2.3 trillion of daily forex trade, the Euro is the second most powerful currency in the world. It is the official currency of the European Union (EU) and is managed by the European Central Bank (ECB). It is used by 19 members of the EU, which helps them avoid currency conversion costs when conducting international trade. Having a common currency also helps encourage economic activity among the member states. 1 Euro exchanged in the forex market will get you 1.08 U.S. Dollars.