Forget US dollar, these are best currencies to invest in 2024 (2024)

FAQs

Forget US dollar, these are best currencies to invest in 2024? ›

The Kuwaiti dinar (KWD) is the most valuable currency against the US dollar in 2024. The KWD is pegged to an undisclosed basket of world currencies, translating to a KWD/USD rate of 3.26 as of June 5, 2024. This means $1 can buy 0.3 Kuwaiti dinars.

The Kuwaiti dinar (KWD) is the most valuable currency against the US dollar in 2024. The KWD is pegged to an undisclosed basket of world currencies, translating to a KWD/USD rate of 3.26 as of June 5, 2024. This means $1 can buy 0.3 Kuwaiti dinars.

Japan continues to be a popular choice, but Vietnam and South Korea stand as solid alternatives among numerous countries in Asia with favourable exchange rates for the US dollar. Closely following in value are South American countries: Argentina and Chile are among those offering the biggest luxury bang.

Kuwaiti Dinar (KWD)

The Kuwaiti dinar is the strongest currency in the world, with 1 dinar buying 3.26 dollars (or, put another way, $1 equals 0.31 Kuwaiti dinar). Kuwait is located on the Persian Gulf between Saudi Arabia and Iraq, and the country earns much of its wealth as a leading global exporter of oil.

Some of the best investments of 2024, according to Bankrate, are high-yield savings accounts, long-term CDs, corporate bond funds, dividend stock funds and value stock funds.

One of the safest currencies to invest in, besides the US Dollar and Euro, is the Swiss Franc. Stable market economy, high GDP, low unemployment rate, country's focus on supporting its national currency, an extremely advanced banking system – all these factors make the Swiss franc an attractive investment opportunity.

Some of the countries where a dollar is worth the most money include Mexico, Peru, Chile, and Colombia. It's possible to exchange dollars for local currency in these countries at favorable exchange rates.

Iranian Rial (IRR):

Iran's official currency, the Iranian Rial (IRR), is currently the world's least valuable currency, with 1 Indian Rupee (INR) equaling 503.97 IRR. This depreciation is primarily influenced by political unrest, the lasting effects of the Iran-Iraq war, and the country's nuclear programme.

What state is the US dollar worth the most? ›

According to 24/7 Wall Street's research, only four states (Rhode Island, Florida, Oregon and Delaware) are actually worth $1. The states that were named the most expensive include New Jersey, California and New York, with each averaging about $0.87 to $0.88 on the dollar.

The top three strongest currencies are the Kuwaiti dinar (number one), the Bahraini dinar (number two), and the Omani Rial at number three. The US dollar is the 10th-strongest currency, despite being the world's biggest and strongest economy.

EUR/USD FX rate, up until Jun 6, 2024

The euro-to-dollar exchange rate fluctuated significantly in 2022, reaching its lowest recorded value since 2008 during that time. Figures were different later in the year, however, with a rate of 1.09 USD recorded at the end of June 6, 2024.