The Nigerian Naira has been ranked 96th strongest currency in the world.
Forbes Advisor, which carried out the ranking said the ranking of the 180-odd traditional fiat currencies recognised as legal tender worldwide was based on their relative value against the US dollar.
Despite being the most traded currency on the global stage by some margin, the US dollar is not the strongest currency in the world.
The Kuwaiti dinar (KWD), Kuwait’s official currency, is the strongest currency in the world. A Kuwaiti dinar is currently worth $3.26. The Bahraini dinar (BWD), Bahrain’s official legal tender, is the second strongest currency in the world with one Bahraini dinar exchanging for $2.65. Oman’s official currency, the Omani rial (OMR), is the world’s third strongest. One Omani rial currently exchanges for $2.60.
The Jordanian dinar (JOD) and the British pound (GBP) are the fourth and fifth strongest currencies in the world respectively. While one JOD exchanges for $1.41, £1 is currently worth $1.23.
Other legal tenders that make up the top 10 strongest currencies in the world list include Gibraltar pound (GIP), which is the sixth strongest, Cayman Islands dollar (KYD), the seventh strongest, Swiss franc (CHF), eighth strongest, the Euro (EUR), ninth strongest and the US dollar ($).
The naira currently lies in the 96th place ahead of the North Korean won (KPW) and the Malawian kwacha (MKW).