Strongest currencies in Europe

Euro (EUR)

EUR or Euro is the official currency of the eurozone which comprises 19 member states among 27 member states of the European Union: Belgium, Finland, Estonia, Cyprus, France, Greece, Germany, Ireland, Latvia, Italy, Lithuania, Malta, Luxembourg, Portugal, Spain, Slovenia, and Slovakia. The unity in currency among few countries in Europe has made it’s the second most strongest currency in Europe. The economic system of EU is becoming more inspiring when it comes to global trade such that Cuba and North Korea internationally trade in the Euro instead of the US dollar. Apart from this, the sales of Iraqi oil which are normally quoted in USD are now replaced with the Euro. This is the reason why EUR is the second largest currency reserve after the US dollar and is second most traded currency in the world. Presently, one EUR is valued at Rs.90.04

Swiss Franc (CHF)

The currency of Switzerland and Liechtenstein is Swiss Franc. Switzerland is one of most wealthy and stable countries in the world. EUR to CHF rate is the most popular Switzerland Franc exchange rate. The secretive banking sector of Switzerland has made its national currency a safest currency for the international capital. When it joined the currency union, the nation fixed the franc to the euro rather than choosing to do away with the franc. If you have entered into the international forex market for the first time, one of the most common currencies you will deal with is the Swiss Franc. As already mentioned, many investors store their wealth in the form of Switzerland currency because the currency is stable. Note that Switzerland lists as one of the top wealthiest currencies in the world. Currently, one CHF is valued at Rs.92.21.

Bulgarian lev (BGN)

Bulgarian lev is ranked the fourth strongest currency in the Europe. It is the official currency of Bulgaria. Even if Bulgaria has decided to join the Eurozone by 2024, its participation in the European Exchange Rate Mechanism (ERM II) may not be unrelated to the country's currency's strength.  Having said that, at the end of the year 2023, Euro is anticipated to become the official currency in Bulgaria. However, till then BGN still ranks at the fourth in the list of strongest currency in Europe. If you visit any shop in Bulgaria, you will see that the prices are mentioned in EU but you need to pay in the lev. Currently, one BGN is valued at Rs.46.03

Bosnia and Herzegovina convertible mark (BAM)

At the same time the lev is the official currency of Bosnia and Herzegovina. Expecting simply $5k USD to make you a million in Bosnia and Herzegovina convertible mark (BAM) is unrealistic because that amount would only equate to 8,807.50 BAM in spite of being one of the poorest countries in Europe due to population decline and other developmental considerations. Currently, one BAM is valued at Rs.46.03

Belarus Rubbles

When it comes to Gross Domestic Product (GDP), Belarus does not match with Switzerland but the Belarus rubble is considered as one of the most strongest currencies in the Europe which is boosting the monetary strength when it is exchanged with the European stakeholders. Presently, one BYN is valued at Rs.32.48

Gibraltar Pound (GIP)

The GIP or Gibraltar Pound is the official currency of Gibraltar. It is pegged to and exchangeable with the British pound sterling at par value. Thus, both GIB as well as GBP are used as official currencies in Gibraltar. The Government of Gibraltar serves as the GIP's central bank and is in charge of producing coins and banknotes. The EUR to GIP exchange rate is the most often used Gibraltar Pound exchange rate. The place is also the oversea territory of Britain. The economic growth of the country is based on various sectors such as e-gaming and tourism. Currently, one GIP is valued at Rs.101.73