Muscat: The Omani Rial has been ranked as the third strongest currency in the world for 2023 by Forbes Advisor.
Forbes Advisor indicated that the Omani Rial is equivalent to 2.60 dollars. Oman sits between the United Arab Emirates (UAE) and Yemen at the eastern tip of the Arabian Peninsula. As with its wealthy neighbors, Oman is a major exporter of oil and gas.
"The Omani Rial was introduced in the 1970s, and is pegged to the dollar," the magazine added.
The magazine classified the Kuwaiti Dinar as the strongest currency in the world, as the Dinar is equivalent to 3.26 dollars. The Bahraini Dinar came second, and the Jordanian Dinar fourth, followed by the British Pound. The Cayman Islands Dollar came sixth, followed by the Gibraltar Pound, which in turn was followed by the Swiss Franc.
Forbes Advisor determined the strongest currencies based on the amount of dollars needed to buy one unit of each currency.