Annex: World currencies

The currencies that are used in the world, along with providing interesting background about it. Similarly, certain transactions will be made with an international currency. This in its generality is the United States dollar , which works as a means of payment, for those transactions that are carried out between two or more nations; As we will see later, the Euro has also become a great international benchmark. Now, the currency of each country, varies according to the tradition and need of each nation. Among the most famous currencies, we can point to the Australian dollar. Which dates from 1966, as the official currency of this country. It is the fifth most used currency in the world of international transactions. This currency is divided into 100 cents.

From nationalist postulates, the currency is identified as part of the symbolism of a country as well as the flag or the anthem. Actually, the currency is still an instrument to facilitate exchange and has no metaphysical value whatsoever. Throughout history, an endless number of coins have been used in commerce: shells , salt , copper , silver , gold , … After the definitive abandonment of the gold standardEach country issues a currency managed by a central bank. Each country? No, as in the case of the Gallic village, a handful of countries use a currency issued by a central bank over which they have no control when belonging to another nation, contrary to the recommendations of Saint Thomas Aquinas. They are not even part of a monetary union that allows them to participate indirectly in the management of the central bank. The most paradigmatic case is that of Panamawhich establishes in its constitution: There cannot be forced currency in the Republic. Consequently, any individual can reject any ticket or other ID that does not inspire confidence, whether of official or private origin. Despite this, the dollar is the currency used and the Balboa is used for national accounting criteria.

Other countries have made the US dollar their official currency, such as Ecuador since 2000 and El Salvador also since 2000 . Montenegro decided after its independence to assume the Euro as its official currency. Numerous small countries have also chosen the Micronesia dollar , Palau, East Timor , the Marshall Islands or the Andorra , Monaco , San Marino , Vatican euro . Despite continuing to have a national currency, there are cases in which countries link the value of their currency to that of another country’s currency. This is the case of the Bahamas , Bermuda , Saudi Arabia or Hong Kong with a fixed rate against the US dollar. Belarus has announced its intention to establish it. Lithuania , Latvia and many African countries have their currencies tied to the euro .

Brief description of the coins

United States dollar

The United States dollar is the most famous of the world currencies. Because it is the currency most used in international financial transactions. This is mainly due to the economic and political power that this North American country possesses. Turning it into the first world power. This coin dates from 1785 . It is divided into 100 cents. In 2004 , there were more than 700 billion US dollars, circulating worldwide.

New Zealand dollar

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

The Euro

The currency that is already a world reference, for the entire political, cultural and economic sphere that surrounds it, is the Euro . Which is the official currency of the European Economic Union. In other words, from Austria , Belgium , Finland , France , Germany , Greece , Ireland , Italy , Luxembourg , the Netherlands , Portugal and Spain . It is the third most used currency in international financial transactions. In a few more years, it is forecast that it will become the first, above the United States dollar.. It is divided into 100 cents and dates from 1999.

Swiss franc

Another currency which is famous is the Swiss franc. This, which once enjoyed a parity with the French franc, the currency that was no longer produced, with the entry into the Euro market , dates from 1865 . It is divided into 100 rappens. The Swiss franc; whose parity was 19,279 American cents, it had reached in 1939 a price of 22,525 cents and in the Argentine market it had a value of $ 0.9823 m / n.

Danish crown

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

Argentine Peso

Within South America , there are some fairly well-known currencies. We have the Argentine peso, a currency which has been the official currency of Argentina , in various periods. The last one began in 1991 , after he returned to the pass, to replace the southern one.

Chilean peso

Also, we have the Chilean peso, which suffered a life similar to the Argentine peso. This currency served in different periods. The last one began in 1975 , when the peso replaced the shield, a coin that had been in use since 1960 . This measure was taken, for an economic issue, due to the devaluation of the shield and also, for a political issue. Since the shield served as currency in the presidential term of Salvador Allende , the first socialist president elected by popular vote. Therefore, with the new military regime, imposed by General Augusto Pinochet , the currency was changed to the peso.

The Chilean gold is a gold coin first minted in 1932 with a value of 50 pesos. Its coinage was irregular over time, and its last production dates from 1980 . The Chilean gold of 100 pesos has a gross weight of 20.3397 grams and a net weight of 18.3057. It is made up of 20.3397 grams of gold and 2.034 grams of silver.

Mexican peso

The Mexican peso dates from 1792 . It was the currency used throughout North America, before the United States dollar appeared.

Brazilian real

The Brazilian real is another currency of a South American country, which is widely used. Within the South American currencies, it is the hardest or strongest, in terms of its economic power. The real one began operating in 1690 . Then in 1924 , it was replaced by the cruzeiro, due to a devaluation issue. Later, in 1994 , he returned in glory and majesty. On the occasion of the last monetary reform carried out in Brazil , a new currency called Real was created. It was decided that the coin with the value of 1 Real had a bimetallic format. This coin received in 2004 the award for the best circulating coin organized every year by the World Coin News magazine.

In 1998 two types were issued: the first image of Gerhard Schon is the basic type and the second image of Wagner Schwan is the one dedicated to the fiftieth anniversary of the declaration of human rights, authorized by communiqué No. 006506. They have a diameter of 27 mm and a thickness of 1.95 mm.

In June 2002, Brazil began minting the 1 Real coin made with other cheaper metals, this change was also applied to the 50 cent coin. The main reason for this change was the increase in the price of the materials used in the coins: they replaced the cupronickel in the core with stainless steel and the brass in the ring with stainless steel plated with bronze . The only change in the design was that the coins actually had a bit more shine and less weight.

Pound sterling

Another well-known currency is the British pound or pound sterling as it is best known, used throughout the United Kingdom. It is the fourth most used currency, in international financial transactions. This coin dates from 1158 , introduced by King Henry II.

Renmimbi currency of the Chinese people

A currency which is believed to become the most widely used in the world, in some decades, is the renmimbi or currency of the Chinese people. It is the official currency of the People’s Republic of China , since the 1960s. Due to the power that China is achieving , it is thought that it could become one of the most powerful and influential currencies in the world. Since sooner or later, China will become one more power, economically speaking.

Russian Ruble

The Russian ruble has been the currency of Russia for over 500 years. Of course, in 1922 , a new ruble was created, which had a higher value than the old one. In large part, it was due to the entry of the communists to political power, after the last imperial family was assassinated by them.

Indian rupee coin

Likewise, the official currency of India , the rupee, is also believed to become powerful, due to the incredible growth that its economy is suffering, especially when it comes to information technology. The first rupee was developed at the end of the XV century . The appreciation of the rupee has become a growing concern for Indian exporters. Because due to this, its products increase the price in an international context marked by the constant currency war, with continuous competitive devaluations.

Canadian dollar

The Canadian dollar dates from 1858 and is also divided into 100 cents. The Hong Kong dollar , which dates back to 1937 and is divided into 100 cents, has had a correlative price to the United States dollar since 1983 .

Yen currency of Japan

But we cannot fail to mention the second most used currency in the world, which is the yen. Official currency of Japan . In Spanish, yen means round object. This coin started working in 1870 . Which developed, as a form of assimilation, to each existing currency in Europe , of that time. Many of the oriental currencies were given in their initial form, as a way of adaptation, to the European economy and culture, in their time of circulation.

Yen, according to data, literally means in ancient Japanese, round object, because before, the yen were only silver coins. The word, phonetically, is En. The word has been around for so long that it has its own symbol and is ancient.

 

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