E Best-Performing Currencies In 2020

For everyone who takes part in the trading industry, keeping pace with the latest trends of the currency market is of vital importance. There are lots of currencies in the world, and if you want to make a profit you should be aware of their current rates and whether it’s worth trading with a given currency at a certain moment. Usually, the most popular currencies that everybody has heard of are the US dollar, the British pound, and the euro but other than this, many other currencies deserve traders’ attention.

The currency market is the largest and most liquid market throughout the world which is open 24/7. Exchange rates change daily, the values of currencies constantly fluctuate, and at different times different currencies can be more beneficial for traders worldwide. This is why the traders need to understand the differences between the currency pairs and realize the factors which can have an impact on the forex market before they choose the currency pairs to trade. 

There are many ways to choose the best currency pair to trade in a given situation. Because the strongest currency can be measured in different ways, it’s important to find a safe place where you can store your capital. The easiest way of doing so is to search online and find recent information about trading tendencies. For example, the information about the strongest currency pairs can be found on Axiory broker review pages or any other broker-related content, and most of them mention CAD/USD or EUR/USD as the best-performing currencies in 2020. But these currencies are usually in the list of the most popular but not the strongest currencies in the world. As the situation frequently changes, USD or EUR doesn’t always have the highest monetary values among all currencies. 

Best currencies of 2020

Every month Eurostat provides us with updated statistics about the world’s leading currencies. For this, it’s important to analyze the exchange rates and interest rates and pay attention to the currency fluctuations while making comparisons across them. For now, we can see that the strongest and highest currency in the world is the Kuwaiti Dinar (KWD) which has strongly held its spot for many years. The reason for this is Kuwait’s flourished economy which is almost completely dependent on producing oil. The country is a major oil supplier, claiming almost 104 million barrels, which makes the economy relatively stable. 

1 2 3
View single page >> |
How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.
William K. 4 weeks ago Member's comment

An educational discussion of the details of currency speculation, and a tale of how to prosper from it.