The Kuwaiti dinar is currently the strongest currency in the world due to Kuwait's large oil reserves and exports, which account for most of its GDP and export revenues. In contrast, the Iranian rial is the weakest currency due to international sanctions in response to Iran's nuclear program that have restricted its oil exports and crippled its economy. To bridge the gap between strong and weak currencies, countries need to improve self-sufficiency by increasing exports, reducing imports and defense spending, utilizing resources fully, and implementing import taxes and export subsidies.

1. COUNTRY AND CURRENCIES
Done By
S.Kumara Nidhirajan Pillay

2. WHAT IS CURRENCY??
 A currency refers to money in any form when in actual use or
circulation as a medium of exchange, especially circulating
banknotes and coins.
 These various currencies are recognized stores of value and are
traded between nations in foreign exchange markets, which
determine the relative values of the different currencies.
 Currencies are defined by governments, and each type has
limited boundaries of acceptance.

3. STRONGEST CURRENCY AND WHY IS IT THE
STRONGEST??
• Kuwaiti Dinar from Kuwait is the strongest currency in the world.
Symbolically the Kuwaiti Dinar is represented as KWD or K.D.
• Resembling with United State dollar the value of 1 Kuwaiti Dinars is
equal to 3.38 USD.
• Kuwait has crude oil reserves of 104 billion barrels (10% of world’s crude
oil) and the country earns the 75% part of its income from this.
Petroleum and petrochemicals accounts for 43% of GDP and 90% of
export revenues.
• Hence, they benefit by pegging their exchange rate at a high level as
this earns them more income because their exports are much more
valued than their imports. (In 2011, exports stood at US$94.47 billion)

4. WEAKEST CURRENCY AND WHY IS IT THE
WEAKEST??
• Iranian Rial from Iran is the weakest currency in the world. Symbolically,
the Iranian Rial is represented as IRR.
• Resembling with United State dollar the value of 1 USD is equal to 30184
Iranian Rial.
• Iran-Iraq War, Israel attacking, as well as the possibility of a Nuclear
Weapon threatening the world from Iran government caused world
superpowers to force economic and political sanctions.
• These measures included restricting access to the world commodity
market and led to significant downturn in their economy. Being an oil
exporter, Iran could no longer export its oil, which created a critical
deficit in their budget.
• All this caused Iranian Rial to become the weakest world currency.

5. HOW TO BRIDGE THIS GAP??
• Improve exports and reduce imports in simple terms, in a broader
perspective a country has to be primarily self sufficient , a good
domestic economy without relying much on imports .
• Have a friendly neighborhood so that your defense spending is less.
• The population should be productive enough to sustain itself.
• Full utilization of resources.
• Increasing import taxes and custom duties.
• giving more subsidies and facilities on export.
• By following the above measures, the currency will retain its value in
the market as it will have no debt from the international community.