The Kuwaiti dinar is the world’s strongest and highest valued currency. However, not all the currencies have equal strength or value some are stronger and trade frequently in the foreign exchange markets. Currently, about 180 currencies are used across the globe and recognized by the United Nations. Popular CurrenciesĪlmost every country has a unique currency, although some countries share common currencies. Another form of currency gaining popularity is virtual currency, a digital, unregulated currency issued and controlled by the developer. Fiat money is a currency issued by the government and not pegged on any commodity. Commodity money is money in the form of other items such as gold or silk, which can be used in buying other goods.
For instance, a gold certificate representing the value of gold one has. Representative money is money printed on paper representing the value of an item or commodity.
Currencies can be classified into three monetary systems representative, commodity, and fiat money.
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