The Omani Riyal is the third strongest currency in the world with its value US dollar at 2.6 behind the Kuwaiti (3.24) and Bahraini dinar (2.65) in the first and second places, respectively, according to Forbes India.

Among others, the Pound Sterling is at number 5, the Swiss Franc at 7, the Euro at 8, and the US dollar at 9.

"Oman’s economy is heavily dependent on the oil sector. Pegged to the US Dollar, the Omani Rial is recognized as the third most valuable currency in the World,the description said.

"The United Nations officially recognizes 180 currencies worldwide, used as legal tender in 195 countries. However, popularity and wide usage do not necessarily equate to the value or strength of a currency. Currency strength revolves around the purchasing power of a nation’s currency when exchanged for goods, services, or other currencies, Forbes India said.

"Currency strength is determined by evaluating the number of goods and services that can be purchased with one unit of the national currency and the amount of foreign currency obtained in exchange. A comprehensive analysis of various local and international factors is necessary to ascertain whether a currency holds the title of the most valuable or expensive in the world. These factors include supply and demand dynamics in the foreign exchange markets, inflation rates, domestic economic growth, policies implemented by the relevant central bank, and the country’s overall economic stability," it added.

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