![]() There is an old perception that if it is swiss then it is royal and expensive. Plus, 70% of the banknotes of US Dollars are circulating outside the United States (US). It means US Dollars are accepted in most countries.Īccording to data published in the year 2018, there are around 1.69 trillion US Dollars in Circulation. US Dollar is often termed as the “Global Currency”. Both commercial and central banks all over the world reserve currencies in Dollars.Īlthough getting challenged by other world powers like China, the United States of America is still the most powerful country in the world. It is also the most reserved currency in the world. By far, it is the most used and traded currency in the world. US Dollar is the official currency used in the United States of America. The value of CAD also depends upon the value of USD because the US is the main importer of Canadian Oil. One thing you should know about the Canadian Dollar is that its value greatly depends upon global price fluctuations. Plus, Canada has the 2 nd largest uranium supply in the world. It has huge reserves of crude oil (13.21%) just behind Saudi Arabia and Venezuela. You should also note that around 5% of the total forex trade takes place in Canadian Dollars.Ĭanada is a country that has natural resources in abundance. CAD is the sixth most traded and fifth-largest reserved currency in the world. Informally, the Canadian Dollar is also called “Loonie” in honour of the bird that appears on the coin of one dollar. It is the 10 th highest value currency on the planet. Let’s kick start our list of most valued currencies in the world with Canadian Dollars. Top 10 Strongest Currencies in the world 2022 – 2023 ![]()
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