5 Strongest Currencies in the World in 2024

In this article, we look at the 5 strongest currencies in the world in 2024. To view the complete list and see how we ranked these currencies, you can head back to the 15 Strongest Currencies in the World in 2024.

5. Chinese Yuan

Chinese Renminbi, or yuan, is the fifth most powerful currency in the world in 2024, with a 3% global reserve currency share. In addition, it is also the fifth most traded currency in the world, with daily volume amounting to over $520 billion.

Yuan is making strides in international trade as it continues to gain importance as a global trade settlement currency. According to a report, around 8 countries have begun or are considering to trade with China in yuan, instead of the U.S. Dollar. Based on the market exchange rate, China has become the second-largest economy after the US.

However, the currency is still controlled by the People’s Bank of China and employs the managed float system. For 1 Chinese Yuan will be able to buy 0.14 U.S. Dollars.

4. Pound Sterling

Occupying the prestigious age long currency position, going back to Anglo-Saxon times, the Pound is one of the strongest currencies in the world. Its daily Forex trade amounts to somewhere around $968 billion and even has a 5% reserve currency share in central banks across the world.

While it is no longer the global reserve currency that it once was in the 19^th century and first half of the 20^th century, it is still the 4^th most traded currency in the world and has a 12.8% share in the daily trades.

1 Pound on the foreign exchange markets gets 1.27 U.S. Dollars. Barclays PLC (NYSE:BCS) was announced as the best bank in 2022 for GBP/USD Forex trade at FX Markets Awards.