What is it - the currency of different countries of the world?

2024 Author: Howard Calhoun | [email protected]. Last modified: 2024-01-17 18:37

Money in human hands appeared many years ago. Since the individual has learned to produce something in excess of the norm of his consumption, he began to change with other people. But the inefficiency, and often the injustice of barter relations, prompted humanity to the idea of creating money. The currency of different countries of the world is a phenomenon that originated a long time ago. It was not very soon transformed into the usual banknotes of different denominations. The transformation of money into new forms is still ongoing. But still, for each country, its monetary unit is a distinctive feature, a special symbol that serves as an indicator of the independence and uniqueness of the state.

How many people - so many opinions

This phrase can be "replayed" as follows: "So many countries - so much money." Although, to be precise, there are not so many currencies in the world. Despite the fact that there are 251 officially recognized states on the planet, not every one has its own currency. Why is thathappening? The currency of different countries of the world often depends on many factors. For example, whether this or that state is in economic or political unions, and also whether it was previously a colonial territory. Thus, many countries of the European Union use one common monetary unit for their association - the euro, and in countries that used to be subordinate to England, Spain, France, the currency of the suzerains still circulates.

At the same time, participation in a particular community of powers is not a prerequisite for abandoning the national currency. For example, Great Britain, one of the main members of the EU, did not abandon its pound sterling, which, however, is not surprising, because this monetary unit is one of the reserve currencies in the world economy. Other members of this union followed the same path - Poland, where the zloty is used, Sweden with its nominal crown, as well as Slovenia, on the territory of which the Slovenian dollar is officially recognized, and Romania, which issues lei.

Currency designation - why is it?

In the international classifier, each currency is assigned a special code and number. This greatly simplifies the procedure of banking operations, various transactions and contracts. The developed standards are recognized worldwide and used in every country.

It is rather problematic to write all the symbols of currencies in one article, because there are quite a lot of them, but the main ones can be given in the form of a table. Currency of different countries of the world - designations:

State	Currency name	Designation	Symbol
Russia	ruble	RUB	₽
EU countries	euro	EUR	€
USA	American dollar	USD	$
China	yuan	CNY
Japan	yen	JPY
UK	pound sterling	GBP	£
Israel	shekel	ILS	₪
Ukraine	hryvnia	UAH	₴
India	rupee	INR	₨

Each visitor to the bank, looking at the scoreboard with currency prices, paid attention to the fact that the names of monetary units are not written in full. They consist of several letters. This was done in order to avoid confusion, because there are quite a few monetary units of the same name. For example, the dollar is not only American, but also Canadian, Australian,Slovenian and even Liberian. The same applies to the Kuwaiti, Libyan, Thai and Tunisian dinar, as well as the peso, which actively rotates in the economy of Argentina, Cuba, Mexico, the Philippine Islands.

Interesting facts

All monetary units have their own unique history. The currency of different countries of the world is a special distinguishing feature of each power, its "face". Money design is done at the state level. For banknotes and coins, even peculiar beauty contests are held. So, according to experts, the most attractive and aesthetic is the Ukrainian hryvnia. More than 50 currencies participated in the competition, and the selection criteria were quite tough. Banknotes were torn, crumpled, testing for strength. In addition, the quality of the pictures depicted on banknotes and the overall style were evaluated.

Making money is the prerogative of the state, but dishonest businessmen are very fond of making counterfeit banknotes. And this practice has been around for a very long time. For example, American dollars are perhaps one of the most counterfeited currencies, according to statisticians, in 1865 every third banknote in the United States was fake. Although there is nothing surprising in this, because the first money in the country was made in the attic of the "treasury" during the Civil War. The difficult situation at that time was clearly not conducive to compliance with all the rules and security measures that apply to modern banknotes.

A special requirement that the currency of different countries of the world must meet is strength. Standard bills are designed to be folded up to 4,000 times, and the average life of a banknote is about seven years.

Global currency

People who are not directly related to banking and financial activities do not know what currency is valid in other countries. For example, they are unaware that Morocco uses the dirham, Panama uses the balboa, and Brazil uses the cruzeiro. Instead, almost all citizens of Russia have heard about the dollar, euro or pound. What currency in different countries of the world - actively exploited in other states or not very popular - depends on how strongly developed the economy of a particular power. The stronger it is, the stronger the national currency.

There are countries in which operations and transactions are carried out in a free (though not very honest and legal) way, not only in the country's currency, but also in the so-called world money. First of all, they include the euro and the dollar. Nowadays, against the backdrop of an aggravated geopolitical situation, there is a lot of talk about creating a new currency that would not feed the economies of individual countries. The most ardent ideological creators of such a message are China and Russia, because their economies are developing quite rapidly, and the need to use foreign currency for international payments does not contribute to an equal state of affairs.

Money - will humanity get rid of their influence?

Is it possible to imagine a person's life without money as such? I think no. But even 50 years ago, no one would have thought thatpeople will almost completely abandon the use of real banknotes and coins. But it happened! Electronic payment systems, bank cards, online banking are systematically and confidently pushing cash out of people's pockets and wallets. This process is most pronounced in developed countries, where the financial system is developed at a very high level.

In addition, the so-called virtual money and the currency of different countries of the world have recently been in constant confrontation. Photos and articles in reputable financial publications describe this struggle in detail: who will be the winner? The answer to this exciting question remains a mystery to everyone. Many people do not understand what virtual money is, but their creators persistently convince that they are the future. Well, let's see.