So how do you think the strength of a country's currency help to boost economy of that country?
In my idea, I believe that if a country has a currency that is of high value, it will increase her value also in global exchange making it to have more excess in exchange compared to the country with less value rate. That is, if you want to have the high currency, you have to exchange more of your local currency for the higher currency and that strengthens higher currency more while the lower or cheaper currency keep depreciating. Also it will help foster more international benefit and advantage in trade. It will be cheaper for investors from strong currency to import goods and they have more products than what investors from lower rate currency would get when they are importing or exporting from higher currency country.
So I have brought list of
10 highest valued currencies in the world for now So those their strength also reflect on their country's economy?
While it is interesting and curious to see, the strength of a currency doesn't mean an awful lot in the long run and this is specifically it's strength against the US dollar (the reserve currency of the world). You'll note that in the last 20 years the value of pound sterling has dropped from around 2 to 1, to 1.3 to 1 and while that has been a gradual decline there is room for much rapid declines too. There are advantages either way, again taking Pound Sterling as an example and what Trump has recently highlighted - the UK is one of the few countries that imports more from America than it exports, so it is actually at a bit of a trading disadvantage in one way. It is not producing enough of value in comparison and means that it has a weaker economy in general.