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World Currencies

All around the world different countries use different types of money. Many countries have their own money. This money is backed by the government and is usually called “legal tender.” Legal tender is money that must be accepted as a form of payment in that country.

Major World Currencies

Although there are many different types of money throughout the world, there are some major world currencies that are accepted or used in several different regions and countries. We describe some of these below:

  • British Pound Sterling – The British pound is the official currency of the United Kingdom. It is currently the fourth most traded currency in the world. Prior to 1944, it was considered the world reference for currency.
  • U.S. Dollar – The U.S. dollar is the official currency of the United States. It is the most used currency in international transactions. There are other countries (i.e. Ecuador and Panama) who use the U.S. dollar as their official currency.
  • European Euro – The Euro is the official currency of the European Union. Many of the countries in the European Union use the Euro as their official currency (not all of them do such as Denmark and the United Kingdom). The Euro passed the U.S. dollar in total cash in circulation in 2006.
  • Japanese Yen – The Japanese Yen is the official currency of Japan. It is the third most-traded currency in the world.

Must Read: Facts About Indian Currency

List of World Currencies

Here is a list of some of the currencies used throughout the world.

  • Australia – dollar
  • Brazil – real
  • Canada – dollar
  • Chile – peso
  • China – yuan or renminbi
  • Czech Republic – koruna
  • Denmark – krone
  • France – euro
  • Germany – euro
  • Greece – euro
  • Hong Kong – dollar
  • Hungary – forint
  • India – rupee
  • Indonesia – rupiah
  • Israel – new shekel
  • Italy – euro
  • Japan – Yen
  • Malaysia – ringgit
  • Mexico – peso
  • Netherlands – euro
  • New Zealand – dollar
  • Norway – krone
  • Pakistan – rupee
  • Philippines – peso
  • Poland – zloty
  • Russia – ruble
  • Saudi Arabia – riyal
  • Singapore – dollar
  • South Africa – rand
  • South Korea – won
  • Spain – euro
  • Sweden – krona
  • Switzerland – franc
  • Taiwan – dollar
  • Turkey – lira
  • United Kingdom – pound sterling
  • United States – dollar

Read Also: Methods Usd By RBI To Control Supply Of Money

Fun Facts About World Money

  • Some countries like Canada and Australia are now using plastic, rather than paper, to make their bills.
  • The portrait of Queen Elizabeth II has been on the money of 33 different countries.
  • The first living person to be featured on a coin was Julius Caesar in 44 B.C.
  • The first euro coins and bills were introduced in 2002.
  • Stores in some countries may accept multiple currencies. The tourist section of Denmark that accepts both Danish krone and the euro.

Also, Read:

Money Bill and Finance Bill

Money Market

Facts About Money

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