What is the currency of which country?

Business | February 28, 2013 | Comments 0
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In this article we will explore the major currencies used in the world, along with providing interesting background about it. The currency is the object (gold, silver, copper or paper), legitimized and a value assigned by the competent authority. Through the same payments are made for the purchase of property, monetary transactions, payment of fees, etc.. It is the official means of each country through which is conducted every financial event.

Similarly, certain transactions are conducted with international currency. This in its generality, is the U.S. dollar, which functions as a means of payment for transactions that take place between two or more nations, as we will see the euro has also become a major international reference.

Now, the currency of each country, which is changing as is the tradition and the need for each nation. Among the most famous coins, we can say the Australian dollar. Which dates from 1966, as the official currency of this country. It is the fifth most widely used currency in the world of international transactions. This currency is divided into 100 cents.

The Canadian dollar also dates from 1858 and is divided into 100 cents. The Hong Kong dollar, which dates from 1937 and is divided into 100 cents, has since 1983 a price corresponding to the U.S. dollar.

The U.S. dollar is the most famous of the world’s currencies. Because it is the currency most used in international financial transactions. This is due mainly to the economic and political power, which has the country of America. Making, in the first world power. This coin dates from 1785. It is divided into 100 cents. In 2004, there were more than 700 billion U.S. dollars circulating worldwide.

Another famous currency is the New Zealand dollar. Data from 1967 and is divided into 100 cents.The New Zealand dollar, came to replace the pound from the same country.

The currency is already a world leader, for all the political, cultural and economic development around it, is the Euro. Which is the official currency of the European Economic Union. That is, of Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal and Spain. It is the third most widely used currency in international financial transactions. In a few years, is forecast to become the first, above the U.S. dollar. It is divided into 100 cents and dates from 1999.

Another currency which is famous, is the Swiss Franc. This, which once enjoyed a parity with the French franc (currency ceased to be produced, with the entry into the market of the Euro), dates from 1865. It is divided into 100 rappens.

The Danish krone, the currency of Denmark, dating from 1873. This coin was formed through the Scandinavian Monetary Union, which included Denmark, Sweden and Norway. This union lasted until the First World War. After the breakup of the union, each country retained the crown, as its official currency. Thus, these three currencies, the Danish krone, Swedish and Norwegian, are important in the world.

In South America we have known quite a few coins. We have the Argentine peso currency which has been the official currency of Argentina, in various periods. The last one, begun in 1991, then come back to step to replace the austral. We also have the Chilean peso, which suffered a life-like Argentine peso. This coin, he served in various periods. The latter began in 1975 when l replaced the coat weight, currency serving since 1960. This action was taken by an economic issue, due to the devaluation of the shield and also a political issue. Since the shield, served as currency in the presidential term of Salvador Allende, the first socialist president elected by popular vote. Thus, with the new military regime, imposed by General Augusto Pinochet, the currency was changed to the weight.

The Mexican peso, dates from 1792. It was the currency used throughout North America, before the appearance of the U.S. dollar.

The Brazilian real is a currency of a South American country, which is quite used. Among the South American currencies, is harder or stronger, in terms of their economic power. The real, became operational in 1690. Then in 1924, was replaced by Cruzeiro, on an issue of devaluation. Later, in 1994, returned in glory and majesty.

Another known currency is the British pound or pound sterling (best known), used throughout the UK. It is the fourth most widely used currency in international financial transactions. This coin dates from 1158, introduced by King Henry II.

A currency which is believed to become the most used in the world, in a few decades, is the renminbi, or “people’s currency” Chinese. It is the official currency of the Republic of China, since the `60s. Because of the power that is reaching China, it is thought that it could get to be among the most powerful and influential currencies of the world. Because sooner or later, China will become a higher power, in terms of economics is concerned.

The Russian ruble has been the currency of Russia for over 500 years. Yes, in 1922, created a new ruble, which had a higher value than the old. In large part, was due to the entry of communist political power, after the last imperial family, was murdered by these same.

Also, the official currency of India, the rupee, also believed to be powerful again, by the incredible growth that the economy is suffering, especially in regard to information technology. The first rupee, was developed in the late fifteenth century.

But we can not fail to mention the second most widely used currency in the world, which is the yen.Official currency of Japan. In Spanish, yen means round object. This coin, began operating in 1870.Which developed as a form of assimilation, to each currency existing in Europe at that time. Many Eastern currencies, were in their original form, as a way to adapt to the European culture and economy in its time of circulation.

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