Have you ever thought of that how many currencies are there across the world? Or which amongst the world currencies are most traded ones? Well, you need not wonder any more! Here we have shared some interesting facts about the current currencies of the world but before that let us see first that what is a currency and why is it important?
Whatever money one uses entirely depends on where he/she is living or is planning to travel. In total the United Nations recognizes about 180 currencies circulating across the world. Though the number of total independent countries is more than 195 along with dozens of dependent territories, the number of total currencies is lesser because some of the countries use foreign currency as they do not have their own money.
So, you may find that the European currency i.e. Euro is used in about 35 independent states as well as the overseas territories, USA and the ten other foreign countries use the United States Dollar, the East Caribbean dollar is used as a currency in 6 Caribbean nations in the Central African franc-in 6 African states and West African CFA franc-in 8 African states. The most traded currency in the world is US Dollar holding about 47% share of the global payments and also acquires 87% of the total everyday turnover of the forex market. The second in the race of most traded currency is Euro that has about 33% of everyday transactions and also accounts for the 28% share in the international bank payments. British pound dating back to its existence since 8th century is one of the oldest currency across the world. The newest currency of the world that was officially accepted on July 18, 2011 is the South Sudanese Pound.
Country or territory | Currency | ISO-4217 |
Afghanistan | Afghan Afghani | AFN |
Akrotiri and Dhekelia (UK) | European euro | EUR |
Aland Islands (Finland) | European euro | EUR |
Albania | Albanian Lek | ALL |
Algeria | Algerian dinar | DZD |
American Samoa (USA) | United States dollar | USD |
Andorra | European euro | EUR |
Angola | Angolan Kwanza | AOA |
Anguilla (UK) | East Caribbean dollar | XCD |
Antigua and Barbuda | East Caribbean dollar | XCD |
Argentina | Argentine peso | ARS |
Armenia | Armenian Dram | AMD |
Aruba (Netherlands) | Aruban Florin | AWG |
Ascension Island (UK) | Saint Helena Pound | SHP |
Australia | Australian dollar | AUD |
Austria | European euro | EUR |
Azerbaijan | Azerbaijan manat | AZN |
Bahamas | Bahamian dollar | BSD |
Bahrain | Bahraini Dinar | BHD |
Bangladesh | Bangladeshi Taka | BDT |
Barbados | Barbadian dollar | BBD |
Belarus | Belarusian Ruble | BYN |
Belgium | European euro | EUR |
Belize | Belize dollar | BZD |
Benin | West African CFA franc | XOF |
Bermuda (UK) | Bermudian dollar | BMD |
Bhutan | Bhutanese ngultrum | BTN |
Bolivia | Bolivian Boliviano | BOB |
Bonaire (Netherlands) | United States dollar | USD |
Bosnia and Herzegovina | Bosnia and Herzegovina convertible mark | BAM |
Botswana | Botswana Pula | BWP |
Brazil | Brazilian real | BRL |
British Indian Ocean Territory (UK) | United States dollar | USD |
British Virgin Islands (UK) | United States dollar | USD |
Brunei | Brunei dollar | BND |
Bulgaria | Bulgarian Lev | BGN |
Burkina Faso | West African CFA franc | XOF |
Burundi | Burundi franc | BIF |
Cabo Verde | Cape Verdean escudo | CVE |
Cambodia | Cambodian Riel | KHR |
Cameroon | Central African CFA franc | XAF |
Canada | Canadian dollar | CAD |
Caribbean Netherlands (Netherlands) | United States dollar | USD |
Cayman Islands (UK) | Cayman Islands dollar | KYD |
Central African Republic | Central African CFA franc | XAF |
Chad | Central African CFA franc | XAF |
Chatham Islands (New Zealand) | New Zealand dollar | NZD |
Chile | Chilean peso | CLP |
China | Chinese Yuan Renminbi | CNY |
Christmas Island (Australia) | Australian dollar | AUD |
Cocos (Keeling) Islands (Australia) | Australian dollar | AUD |
Colombia | Colombian peso | COP |
Comoros | Comorian franc | KMF |
Congo, Democratic Republic of the | Congolese franc | CDF |
Congo, Republic of the | Central African CFA franc | XAF |
Cook Islands (New Zealand) | Cook Islands dollar | none |
Costa Rica | Costa Rican colon | CRC |
Cote d'Ivoire | West African CFA franc | XOF |
Croatia | Croatian Kuna | HRK |
Cuba | Cuban peso | CUP |
Curacao (Netherlands) | Netherlands Antillean Guilder | ANG |
Cyprus | European euro | EUR |
Czechia | Czech koruna | CZK |
Denmark | Danish krone | DKK |
Djibouti | Djiboutian franc | DJF |
Dominica | East Caribbean dollar | XCD |
Dominican Republic | Dominican peso | DOP |
Ecuador | United States dollar | USD |
Egypt | Egyptian pound | EGP |
El Salvador | United States dollar | USD |
Equatorial Guinea | Central African CFA franc | XAF |
Eritrea | Eritrean nakfa | ERN |
Estonia | European euro | EUR |
Eswatini (formerly Swaziland) | Swazi lilangeni | SZL |
Ethiopia | Ethiopian Birr | ETB |
Falkland Islands (UK) | Falkland Islands Pound | FKP |
Faroe Islands (Denmark) | Faroese krona | none |
Fiji | Fijian dollar | FJD |
Finland | European euro | EUR |
France | European euro | EUR |
French Guiana (France) | European euro | EUR |
French Polynesia (France) | CFP franc | XPF |
Gabon | Central African CFA franc | XAF |
Gambia | Gambian Dalasi | GMD |
Georgia | Georgian Lari | GEL |
Germany | European euro | EUR |
Ghana | Ghanaian cedi | GHS |
Gibraltar (UK) | Gibraltar Pound | GIP |
Greece | European euro | EUR |
Greenland (Denmark) | Danish krone | DKK |
Grenada | East Caribbean dollar | XCD |
Guadeloupe (France) | European euro | EUR |
Guam (USA) | United States dollar | USD |
Guatemala | Guatemalan Quetzal | GTQ |
Guernsey (UK) | Guernsey Pound | GGP |
Guinea | Guinean franc | GNF |
Guinea-Bissau | West African CFA franc | XOF |
Guyana | Guyanese dollar | GYD |
Haiti | Haitian gourde | HTG |
Honduras | Honduran Lempira | HNL |
Hong Kong (China) | Hong Kong dollar | HKD |
Hungary | Hungarian forint | HUF |
Iceland | Icelandic krona | ISK |
India | Indian rupee | INR |
Indonesia | Indonesian Rupiah | IDR |
International Monetary Fund (IMF) | SDR (Special Drawing Right) | XDR |
Iran | Iranian rial | IRR |
Iraq | Iraqi dinar | IQD |
Ireland | European euro | EUR |
Isle of Man (UK) | Manx pound | IMP |
Israel | Israeli new shekel | ILS |
Italy | European euro | EUR |
Jamaica | Jamaican dollar | JMD |
Japan | Japanese Yen | JPY |
Jersey (UK) | Jersey pound | JEP |
Jordan | Jordanian dinar | JOD |
Kazakhstan | Kazakhstani Tenge | KZT |
Kenya | Kenyan shilling | KES |
Kiribati | Australian dollar | AUD |
Kosovo | European euro | EUR |
Kuwait | Kuwaiti dinar | KWD |
Kyrgyzstan | Kyrgyzstani som | KGS |
Laos | Lao Kip | LAK |
Latvia | European euro | EUR |
Lebanon | Lebanese pound | LBP |
Lesotho | Lesotho Loti | LSL |
Liberia | Liberian dollar | LRD |
Libya | Libyan dinar | LYD |
Liechtenstein | Swiss franc | CHF |
Lithuania | European euro | EUR |
Luxembourg | European euro | EUR |
Macau (China) | Macanese pataca | MOP |
Madagascar | Malagasy Ariary | MGA |
Malawi | Malawian kwacha | MWK |
Malaysia | Malaysian Ringgit | MYR |
Maldives | Maldivian Rufiyaa | MVR |
Mali | West African CFA franc | XOF |
Malta | European euro | EUR |
Marshall Islands | United States dollar | USD |
Martinique (France) | European euro | EUR |
Mauritania | Mauritanian ouguiya | MRU |
Mauritius | Mauritian rupee | MUR |
Mayotte (France) | European euro | EUR |
Mexico | Mexican peso | MXN |
Micronesia | United States dollar | USD |
Moldova | Moldovan Leu | MDL |
Monaco | European euro | EUR |
Mongolia | Mongolian tugrik | MNT |
Montenegro | European euro | EUR |
Montserrat (UK) | East Caribbean dollar | XCD |
Morocco | Moroccan dirham | MAD |
Mozambique | Mozambican metical | MZN |
Myanmar (formerly Burma) | Myanmar Kyat | MMK |
Namibia | Namibian dollar | NAD |
Nauru | Australian dollar | AUD |
Nepal | Nepalese rupee | NPR |
Netherlands | European euro | EUR |
New Caledonia (France) | CFP franc | XPF |
New Zealand | New Zealand dollar | NZD |
Nicaragua | Nicaraguan Cordoba | NIO |
Niger | West African CFA franc | XOF |
Nigeria | Nigerian Naira | NGN |
Niue (New Zealand) | New Zealand dollar | NZD |
Norfolk Island (Australia) | Australian dollar | AUD |
Northern Mariana Islands (USA) | United States dollar | USD |
North Korea | North Korean won | KPW |
North Macedonia (formerly Macedonia) | Macedonian Denar | MKD |
Norway | Norwegian krone | NOK |
Oman | Omani rial | OMR |
Pakistan | Pakistani rupee | PKR |
Palau | United States dollar | USD |
Palestine | Israeli new shekel | ILS |
Panama | United States dollar | USD |
Papua New Guinea | Papua New Guinean Kina | PGK |
Paraguay | Paraguayan Guarani | PYG |
Peru | Peruvian Sol | PEN |
Philippines | Philippine peso | PHP |
Pitcairn Islands (UK) | New Zealand dollar | NZD |
Poland | Polish zloty | PLN |
Portugal | European euro | EUR |
Puerto Rico (USA) | United States dollar | USD |
Qatar | Qatari riyal | QAR |
Reunion (France) | European euro | EUR |
Romania | Romanian Leu | RON |
Russia | Russian Ruble | RUB |
Rwanda | Rwandan franc | RWF |
Saba (Netherlands) | United States dollar | USD |
Saint Barthelemy (France) | European euro | EUR |
Saint Helena (UK) | Saint Helena Pound | SHP |
Saint Kitts and Nevis | East Caribbean dollar | XCD |
Saint Lucia | East Caribbean dollar | XCD |
Saint Martin (France) | European euro | EUR |
Saint Pierre and Miquelon (France) | European euro | EUR |
Saint Vincent and the Grenadines | East Caribbean dollar | XCD |
Samoa | Samoan Tala | WST |
San Marino | European euro | EUR |
Sao Tome and Principe | Sao Tome and Principe dobra | STN |
Saudi Arabia | Saudi Arabian riyal | SAR |
Senegal | West African CFA franc | XOF |
Serbia | Serbian dinar | RSD |
Seychelles | Seychellois rupee | SCR |
Sierra Leone | Sierra Leonean Leone | SLL |
Singapore | Singapore dollar | SGD |
Sint Eustatius (Netherlands) | United States dollar | USD |
Sint Maarten (Netherlands) | Netherlands Antillean Guilder | ANG |
Slovakia | European euro | EUR |
Slovenia | European euro | EUR |
Solomon Islands | Solomon Islands dollar | SBD |
Somalia | Somali shilling | SOS |
South Africa | South African Rand | ZAR |
South Georgia Island (UK) | Pound sterling | GBP |
South Korea | South Korean won | KRW |
South Sudan | South Sudanese pound | SSP |
Spain | European euro | EUR |
Sri Lanka | Sri Lankan rupee | LKR |
Sudan | Sudanese pound | SDG |
Suriname | Surinamese dollar | SRD |
Svalbard and Jan Mayen (Norway) | Norwegian krone | NOK |
Sweden | Swedish krona | SEK |
Switzerland | Swiss franc | CHF |
Syria | Syrian pound | SYP |
Taiwan | New Taiwan dollar | TWD |
Tajikistan | Tajikistani somoni | TJS |
Tanzania | Tanzanian shilling | TZS |
Thailand | Thai Baht | THB |
Timor-Leste | United States dollar | USD |
Togo | West African CFA franc | XOF |
Tokelau (New Zealand) | New Zealand dollar | NZD |
Tonga | Tongan pa’anga | TOP |
Trinidad and Tobago | Trinidad and Tobago dollar | TTD |
Tristan da Cunha (UK) | Pound sterling | GBP |
Tunisia | Tunisian dinar | TND |
Turkey | Turkish lira | TRY |
Turkmenistan | Turkmen manat | TMT |
Turks and Caicos Islands (UK) | United States dollar | USD |
Tuvalu | Australian dollar | AUD |
Uganda | Ugandan shilling | UGX |
Ukraine | Ukrainian hryvnia | UAH |
United Arab Emirates | UAE dirham | AED |
United Kingdom | Pound sterling | GBP |
United States of America | United States dollar | USD |
Uruguay | Uruguayan peso | UYU |
US Virgin Islands (USA) | United States dollar | USD |
Uzbekistan | Uzbekistani som | UZS |
Vanuatu | Vanuatu Vatu | VUV |
Vatican City (Holy See) | European euro | EUR |
Venezuela | Venezuelan Bolivar | VES |
Vietnam | Vietnamese Dong | VND |
Wake Island (USA) | United States dollar | USD |
Wallis and Futuna (France) | CFP franc | XPF |
Yemen | Yemeni rial | YER |
Zambia | Zambian kwacha | ZMW |
Zimbabwe | United States dollar | USD |
Currency, in general, refers to the type of money that is circulated within an economy for purchasing goods as well as services.In simpler terms, the word currency refers to a form of money that is used for the circulation amongst the public throughout the country. At present, the currency normally comprises of both the hard money i.e. coins as well as the soft money i.e. paper.Currency within a country is generally maintained and issued by a governing authority and is called Fiat money. This implies that the currency value is not determined by the material used in making it instead it is determined by the value it represents as per the issuer and the economy.
Apart from the several obvious advantages of the currency that forms the basis of trade i.e. buying and selling, the currency is also supposed to set the standards of value, which in turn leads to smooth and easy functioning of the trades as compared to the barter system.Currency is also known to be a store of value. This suggests that currency is can also be stored and then later it can be brought out by retaining the maximum out of it, if not the entirety of its value.
There are about 8 currencies that are recognized as the most traded as well as the strongest of all. Here you can find them with their corresponding symbols.
The value of the currency rises up and falls down regularly across the world. Currencies get affected by every little thing i.e. whether the leader of the country says something amusing for the current trading price of oil or anything else.The values may show a faster variation in their rise or fall i.e. a way faster than what you might have expected for like as while many currencies and the Canadian dollar plunged by around 15% due to the reduction in prices of oil during December 2015.
From the banking point of view, all these currencies are known to be strong and stable but this is not the case with the perspective of traveling. The most widely used and favored currency for international travel is the US dollar, British Pound and the Euro.As already mentioned above, around two dozens of territories as well as the nations along with Ecuador and Zimbabwe make use of the American dollar as its currency. This usually happens in the case where the country’s currency becomes quite unstable and one is forced to look for building up of a stable economy.
Names and Symbols do not have much meaning as the value does. For e.g.- Mexicomight use the $ symbol for denoting a Mexican peso usually written as $MEX but it still gets you only 20 pesos to the dollar or the then exchange rate. Apart from this also because a country such as Cambodia makes use of theAmericandollardoesn’t at all mean that the dollar would buy you the same in Cambodia as that it would buy in America. You may get around the two-course meal and a drink under $10 in Cambodia inside a mid-range restaurant, just because the cost of living there is lower in comparison to that of the USA.
There are around 180 currencies in the world that are recognized by United Nations and it is important for the country to have currency because it is an important asset in key requisites of what makes a nation as independent and self-sufficient. Every nation across the world has trade relations with other nations and this is done through the exchange of currency, traveling overseas requires an exchange of currency. Conducting trade using the barter system is no more applicable in this era and so we make use of currency now. Currency is of great importance because the value of one currency in terms of the other assists in determining the nation’s economic condition and also the people’s well being there.