A currency is considered stable when it maintains its unit of account and purchasing power over a long period of time. These currencies have smaller fluctuations in their exchange rates than most currencies.
🔸Swiss Franc (CHF)
The Swiss franc is the first of the world’s top three safest currencies. Switzerland has one of the highest GDP levels per capita in the world, with a strong emphasis on the services sector (about 74% of Swiss GDP).
🔸Japanese Yen (JPY)
Despite having the highest national debt globally, Japan has been able to maintain a low inflation rate for a long time. According to the International Monetary Fund, Japan’s private debt, loans, and debt securities exceed 187% of GDP.
🔸United States Dollar (USD)
Many countries, including the US, Ecuador, El Salvador, Marshall Islands, and Panama, use the US dollar as either their official or de facto currency. It’s also widely used all around the world and serves as a reserve currency.
🔸British Pound Sterling (GBP)
The British pound is not the strongest currency in the world, but it is still among the most stable currencies on Earth. The economy of the UK is highly advanced, with London being the largest tech hub globally.
🔸Norwegian Krone (NOK)
The Norwegian krone is not an expensive currency, yet it has been shown that it can be one of the most stable ones. Norway is one of the very few countries in the world that has no net debt and boasts a large sovereign wealth fund.
🔸Australian Dollar (AUD)
The strength of the Australian dollar is based on a stable system of government and a relatively low unemployment rate.
🔸Canadian Dollar (CAD)
Similar to the Australian dollar, the Canadian dollar is a commodity currency because the country has large reserves of natural resources.
The euro is used across the Eurozone. This currency holds second place as the world reserve currency. Although the euro is prone to fluctuations, the amount of gold reserves in the EU zone makes it stable.
🔸Danish Krone (DKK)
Thanks to the well-organised monetary policies implemented by the Danish central bank, the krone is gaining the status of a stable currency.
🔸Singapore Dollar (SGD)
The Republic of Singapore strives to maintain the stability of its currency. The Monetary Authority of Singapore monitors international exchange rates and intervenes if necessary.
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