The designation of world currencies is used to simplify the type of economic information. Each currency has its own three-digit code, where the first two letters indicate the country, and the last third letter is the name of the currency itself (dollar - D, franc - F, pound - P).
This procedure for three-digit designation of currencies is regulated by a special standard ISO 4217. The International Organization for Standardization in 1978 recommended that all countries use three-letter and three-digit currency codes.
Any currency symbol:
The main purpose of this use of currency designations was aimed at international documentation in international agreements, in which it was more effective to use abbreviated names of currency codes to identify their names, since the names of some currencies are quite similar (US dollar, Australian dollar, Canadian dollar, etc.).
Of course, each country has adapted the ISO 4217 standard to suit its needs. For example, Russia has its own All-Russian Classifier of Currencies. Only the European Union uses the ISO 4217 standard directly.
The designation of currencies, according to the ISO 4217 standard, has been improved several times: digital codes have been introduced, and data on fractional monetary units has been introduced.
In order to facilitate the use of the ISO 4217 standard, the designation of currencies was displayed in special tables - lists that indicate the name of the currency, the place of circulation of the currency, a three-letter alphabetic code, a three-digit alphabetic code, and decimal places for monetary units.
It is clear that some currencies go out of circulation, so they are marked in additions to the ISO 4217 standard with an explanation of the reasons for such changes, and the dates of entry and exit of information.
All changes in currency designations are officially published on its website by a special agency - SIX Interbank Clearing in English and French.
The most interesting thing is that during the use of the designation of world currencies since 1978, practically all available currency signs were used, therefore, for new currencies, they came up with the idea of entering the letter N, from English word- new.
Currency codes were needed to automate and unify the designation of currencies, so each country develops them independently, taking into account the ISO 4217 standard.
Letter designation of world currencies
| Currency name | Currency code | |
| Australian dollar | AUD | 036 |
| Austrian schilling | ATS | 040 |
| Belgian franc | BEF | 056 |
| British pound | GBP | 826 |
| Canadian dollar | CAD | 124 |
| Czech crown | CZK | 203 |
| Danish krone | DKK | 208 |
| Dutch guilder | NLG | 528 |
| Estonian kroon | EEK | 233 |
| Single European currency | EUR | 978 |
| Finnish brand | FIM | 246 |
| French franc | FRF | 250 |
| German mark | DEM | 276 |
| Greek drachma | GRD | 300 |
| Hong Kong dollar | HKD | 344 |
| Hungarian forint | HUF | 348 |
| Irish pound | IEP | 372 |
| Italian lira | ITL | 380 |
| Japanese yen | JPY | 392 |
| Latvian lats | LVL | 428 |
| Lithuanian litas | LTL | 440 |
| Mexican Peso | MXN | 484 |
| New Zealand dollar | NZD | 554 |
| Norwegian krone | NOK | 578 |
| Polish zloty | PLN | 985 |
| Portuguese escudo | RTE | 620 |
| Russian ruble | RUB | 643 |
| Singapore dollar | SGD | 702 |
| Slovak koruna | SKK | 703 |
| South African rand | ZAR | 710 |
| Spanish peseta | ESP | 724 |
| Swedish krona | SEK | 752 |
| Swiss frank | CHF | 756 |
| Ukrainian hryvnia | UAH | 980 |
| U.S | USD | 840 |
Surely you noticed when you filled out a payment order at your bank that you have columns of currency codes: for the dollar - 840, euro - 978, Russian ruble - 643, Ukrainian hryvnia - 980.
Symbols of world currencies
In addition to currency signs and currency codes, there are also currency symbols $, £, ¥, €, which you very often see in everyday life.
The history of the dollar symbol $ has a number of versions.
The first version says that in 1492, King Ferdinand II of Aragon from Spain adopted a symbol that looked like the Pillars of Hercules entwined with a ribbon as his currency.
The second version tells the origin of the dollar symbol in the period between 1573 – 1825. in Potosi, which at that time was the largest industrial center in the world, and was located in the territory of modern Bolivia. The fact is that the coins that were circulated in Potosi at that time are very similar to the modern dollar symbol.
The third version talks about the similarity of the modern dollar symbol with the sestertius currency from Ancient Rome. The sesterce was designated IIS.
And according to the fourth version, it is assumed that the $ symbol was obtained as a result of the abbreviation of the Spanish peso. That is, in a single expression peso was abbreviated as ps. Later, ps was simplified to a single letter S, which was simply crossed out with the missing letter p, and so the $ symbol came out.
With other currencies everything is simpler. The designation for the pound £ comes from the Latin word libra, which means scales. At that time, the value of the pound was equal to the pound of silver.
The designation of the euro currency - € arose as a result of a sociological survey of the population. That is, the people themselves chose what their national symbol should look like. The euro itself is a very young European currency, which was born in 1999. The symbol €, according to the European Commission, denotes two elements: the importance of Europe in the Greek letter Epsilon, and the stability of the currency in two parallel lines.
The symbol for the Japanese yen currency - ¥ - arose as a result of drawing two parallel lines on the Latin letter Y. The Japanese describe their currency with the hieroglyph 円.
Most countries in the world do not bother with any special invention when designating currencies, but simply use abbreviations of the first letters in the name of the country. Thus, in Poland zlotys are denoted as zł, and the former German Deutsche Mark is simply abbreviated as DM.
Some countries designate their currencies with a symbol that is related to the dollar. For example, Nicaraguan Cordoba looks like C$.
The designation of the shekel currency in Israel in Hebrew is deciphered as the first letters of the name of the currency - ₪.
The history of the designation of the Russian ruble indicates that the name ruble itself was first encountered in the 13th century and meant a pound of silver, which weighed one hryvnia and was cut into pieces. Over time, the symbol of the ruble has changed. In the XVII – 19th centuries the ruble was depicted by connecting two letters P and U. The modern symbol of the Russian ruble was approved only at the end of 2013 and denotes the letter P with a horizontal line intersecting the letter P - ₽ (but this symbol is not displayed correctly for everyone yet, since such a symbol appeared in Unicode tables quite recently).
Thus, we have dealt with the designations of the currencies of the world, examined the signs, codes and symbols of the main world currencies.
Abaz, Iranian silver coin, widespread in the 16th-17th centuries. in countries Caucasus, Middle East and Central Asia . Got its name from the Shah of Iran Abbas I(1587-1628), during which its production began.
Altyn, old Russian monetary unit. The term comes from the Tatar word alty - six, because initially the altyn was equal to 6 money.
Balboa, monetary unit of Panama. Named in honor of the conquistador, discoverer of the Pacific Ocean Vasco Nunez de Balboa.
Bolivar, currency unit Venezuela, and previously Uruguay. Named after the fighter for the independence of countries Latin America Simon Bolivar.
Dirham (dirham), the name of coins and monetary units, mainly in Arab countries. The name goes back to Greek.
Penny, form plural English word penny(). At the same time the word penny used when denoting multiple denominations, for example two pence - two penny coin, in contrast to the expression two pennies, which is used to represent two 1 penny coins.
Peseta, the name of the coin and modern currency of Spain. Spanish word peseta literally means small.
Sentimo, the name of a small change coin equal to 1/100 of the national currency in a number of Spanish-speaking countries. The etymology of the name is the same as that of.
Centavo, the name of a small change coin equal to 1/100 of the national currency in a series Luso-speaking countries The etymology of the name is the same as that of.
Sucre, monetary unit of Ecuador, named after Antonio José de Sucre, a fighter for the independence of the Spanish colonies in America.
Cent, the name of a small change coin equal to 1/100 of the national currency (usually) in a number of countries. The etymology of the name is the same as that of.
Centesimo, the name of an Italian small change coin equal to 1/100. The etymology of the name is the same as that of.
Chervonets, the name that was originally given in Russia to foreign high-grade coins (made from red gold). Then Russia began issuing its own gold coins and the name chervonets passed on to them.
Shekel, monetary unit in ancient Judea and modern Israel. The name comes from the Semitic word saqal - weigh.
Shilling, the name of the coin and monetary unit of a number of countries. Known in Europe since the Middle Ages. The name comes from the name of an ancient Roman coin solid.
Ecu, antique French gold coin. The name of the coin comes from French word ecu-shield.
Escudo, the name of Spanish and Portuguese gold coins, as well as the modern monetary unit of Portugal and some other countries. The name comes from spanish word escudo - shield.
Today, everything we buy, from food to an apartment or a car, costs a certain amount of money. They include both paper bills and metal coins, and Lately even credit cards. But there is discord. Each country has its own currency, and therefore the perception of everything is quite complicated. In this article you will find basic information about money. different countries, and Interesting Facts about means of payment and their circulation.
History of money
The history of money in different countries goes back several thousand years. The first primitive coins appeared around 500 BC. in the small country of Lydia (on this moment is part of Turkey). They were made from an alloy of gold and silver. Many historical primary sources mention money in one way or another. Even before the emergence of modern money, the main equivalent for exchange was a commodity that had a special value. This means that money replaced furs, shells, tea, precious stones, etc.
Appearance of money
Gradually, society developed, and the equivalent of value became not furs and pearls, but money, the exchange value of which was recognized by everyone. Money from different countries around the world is also quite different. For example, in the USA the dollar is in use, in Japan - the yen, in Europe - the general
Basic information about the money of different countries cannot be formulated without description. appearance currencies Almost always, from the images on the currency, you can trace the path of historical transformations in the state. Since prominent political and cultural figures of a particular country or important historical events are depicted on the money. A very precise example is the currency of the European Union. Each banknote or coin bears images of various architectural monuments and styles (Baroque, Gothic, Classical, Romanesque) that characterize historical eras in the development of the European community.
Basic functions of money
Even despite the fact that the money of the world is quite diverse, it is generally accepted that they all perform, if not the same, then quite similar functions, among which the following can be distinguished:
- money is a measure of the value of all goods and services;
- money acts as a kind of intermediary in the exchange of goods and services;
- money acts as savings;
- money serves as an economic intermediary between states, individuals and legal entities.
If we give a more general classification, then money from different countries of the world can be divided into two groups:
- symbolic;
- natural.
Absolutely any natural currency unit has its own useful value. But over time, this type of money leaves the circulation system. It is replaced with symbolic money. This type includes a variety of coins, paper money, bonds, bank checks, etc.
The main value of such symbolic (essentially modern) money is not the cost of the material from which they are made, but their symbolic denomination, officially approved by the country's leadership.
Names of money from different countries of the world
As already mentioned, each country has different money for many reasons. In order to have basic information about the money of different countries, they should be classified and mentioned.
African currencies: Liberian dollar, Nigerian naira, Egyptian pound, Chadian franc, Ghanaian cedi, Malian franc, etc.
Asian currencies: Vietnamese dong, Israeli shekel, Japanese yen, Indian rupee, Philippine peso, Bhutanese ngultrum, Thai baht and many others.
Monetary units of America and Oceania: Argentine peso, US dollar, Cuban peso, Australian dollar, Bahamian dollar, Vanuatu vatu and others.
Monetary units of Europe and the CIS: Danish krone, euro, Russian ruble, Armenian dram, Serbian dinar, Kyrgyz som, Kazakh tenge, Estonian krone, etc.
As we can see, money is a universal payment system that has developed historically and is recognized by all countries and peoples as a convenient means of payment. These are the basic information about the money of different countries.
In June 1993, the Royal Mint of Great Britain issued obsolete coins that had been taken out of circulation 20 years earlier. And this was done deliberately and for a special occasion, which most Englishmen are not even aware of. The whole point of the matter was that the guitarist of the legendary rock band Queen, Brian May, while playing the guitar, did not use a pick, but a penny made in 1970. At his personal request, the release of an obsolete series of six pence coins was organized.
Coin "Old Copper Nose"
Quite a strange name for a coin. But it was actually published in England at the end of the 8th century by King Henry. It is famous for being the first coin of its kind to be cast not from silver, but from copper (they were later coated with silver). During circulation, the layer of silver on the coin quickly wore off, especially on the protruding part. That is, in the image of the king, the nose was erased first. Therefore, the name “old copper nose” was assigned to the coin.
Half a kopeck
Perhaps the most curious coin that has ever circulated in the USSR. Half-kopecks were minted in 1926-1927, and there were conversations about them for half a century. The fact is that in order to save copper, the Union decided to mint coins from an alloy of copper and zinc.
We reviewed basic information about money in different countries and illustrated it with interesting facts. But this information is only sufficient for general idea. We tried to briefly consider what money is in different countries.
The Russian ruble has finally acquired an official graphic symbol - now the national currency will be denoted by a crossed out letter “R”. About why currencies need special graphic signs and why most symbols of the world's monetary units contain horizontal "dashes" - in the material on the site.
Why do currencies need graphic symbols?
Not every currency in the world can boast of its own sign. Thus, Latvian lats, Swiss francs, Danish, Norwegian, Swedish kronor, Croatian kunas and many other currencies of the world do without special symbols. Total, according to the global Unicode standard (a standard for encoding characters and characters written languages), at the moment only about thirty world currencies have officially registered graphic symbols. Among them there are also those that are no longer in use - for example, signs of the Italian lira (£), German mark (ℳ), and French franc (₣), which became obsolete after the introduction of the euro.
Meanwhile, it’s hard not to admit that currencies that have their own graphic symbols, are characterized by a much wider distribution than monetary units, which do not have their own symbols. Thus, the dollar ($), pound (£), euro (€), and yen (¥) are undoubtedly not only the most popular, but also the strongest and most influential currencies in the world.
Approval of the ruble symbol
The introduction of the official symbol of the Russian ruble, according to the Bank of Russia, became the most important event in the country's economy. “Moscow lays claim to the status of an international financial center. An objective need has arisen to introduce a symbol of the national currency, recognized within the country and abroad,” said Elvira Nabiullina, Chairman of the Central Bank of Russia, on December 11, presenting the approved designation of the Russian currency.
The adoption of one sign as a designation of a monetary unit allows, in addition, to unify all variants of its previous spelling: thus, after the official approval of the ruble symbol, there will no longer be any doubt about how best to say about the ruble in writing- 100 rubles, 100 rubles. or 100 rub.
What do the symbols of different world currencies have in common?
Some of the graphic images of monetary units developed naturally as a result of various historical events, and some were formed during the development of many options, as well as the holding of popular votes. So, it is impossible to present any special requirements for creating a symbol of a particular currency. However, the graphic image must be convenient and easy to write, otherwise it will be useless - after all, currency signs are introduced in order to become recognizable and replace the full names of currencies in writing.
Dollar, euro, pound, Japanese yen, Vietnamese dong, Israeli new shekel
Graphic symbols of almost all currencies in the world have horizontal “dashes” in their structure. This is not only the British pound sterling (£), the euro (€), the Ukrainian hryvnia (₴), the Japanese yen (¥), the Kazakh tenge (₸) and, finally, the symbol of the Russian ruble that has received official status. Thus, the symbols of the Indian rupee (₹), South Korean won (₩) and many other currencies of the world are also written using one or more horizontal stripes.
Such stripes on signs are a generally recognized symbol of the stability of the currency in whose writing they are present. That is why, as representatives of the Central Bank of Russia themselves stated, the line is also used in the symbol of the ruble.
From Russia with love
The approved symbol of the Russian ruble, which is a crossed out “R”, is not the first sign of the national currency, but it is the only one officially recognized. It must be added, however, that for a long time it was the most popular of the unofficial designations of the Russian currency.
During the time of the Russian Empire, there was a different way of writing the ruble: it was combining capital letters"r" and "y". According to the most common version, the "p" was turned 90 degrees counterclockwise, and then the "y" was written on top of the letter. This designation of the ruble was indicated not after the numbers, as today, but above them. However, despite the attempts of some publishers, this ruble sign was not widely used in print.
Now the graphic symbol of the ruble has become - and is already completely legal - the crossed out letter "R". This sign was approved by the Central Bank of Russia on December 11. The selected symbol was recognized as the most popular based on the results of a vote that the Central Bank conducted on its website. A one-ruble coin with a new graphic symbol of the national currency will appear in circulation in 2014.
Approved symbol of the ruble. Photo: cbr.ru
In early November, the Central Bank submitted the graphic symbol of the ruble for public discussion. The finalist signs were selected by a working group of the Bank of Russia from more than three thousand options. The crossed out “R” was supported by more than 61% of respondents during the voting.
Crossed out letters and more
Since horizontal stripes are a fairly popular “attribute” of currency symbols, it is not surprising that there are already a number of monetary units in the world, the signs of which are very similar to the new ruble designation. Thus, most countries where pesos are used to pay use the American dollar sign ($) or a similar one, only with two transverse stripes, to designate their currencies. But in the Philippines, the peso, meanwhile, is denoted by a different symbol - ₱, which is similar to the new designation of the Russian ruble.
Symbols of various currencies of the world: including the American dollar, Korean won, Netherlands Antilles guilder
The Nigerian naira is also crossed out - however, already with two stripes (₦). In addition, the Ukrainian hryvnia (₴) and the Laotian kip (₭) have similar designations - in the form of crossed out letters.
In the graphic designs of some national currencies, horizontal lines are present in a different way. Thus, the new Israeli shekel looks more like a beautiful rectangular pattern (₪), that of the country of Bangladesh - like a solid sign from the Russian alphabet (৳), and the guilder of the Netherlands Antilles - like mathematical notation functions (ƒ).
Where did the most famous currency symbols come from?
Today there is no single view on the origin of the $ sign, but it is quite possible that the American currency owes its characteristic design to the inhabitants of Foggy Albion. The fact is that the English king George III at one time ordered the use of Spanish reals, which cost 1/8 of the English pound sterling, in circulation. This money was called "piece of eight", which eventually became the abbreviated "peso". Soon they began to be used to pay with them in the North American colonies of England, where they also began to be called dollars.
The crossed out eight was wisely chosen as the written symbol for "piece of eight". However, soon this spelling turned out to be too long and inconvenient, as a result of which the symbol turned into a “truncated” eight - $.
According to the theory of American Patriots, $, however, originated differently: becoming a simplified combination of the letters "U" and "S" (the first letters of the name of the United States - US), superimposed on each other. Another version of the appearance of the American dollar symbol says that the “progenitors” of the $ sign were the Spaniards, who wrote down the peso currency by combining the letters “P” and “S”.
The Roots of Fancy Writing British pound are hidden in the Latin letter "L", supplemented horizontally with a line (or two lines) in the middle. “L” itself comes from the Latin word libra (libra, pound), denoting the main measure of weight in Ancient Rome and England.
The pound - £ or ₤ - is used not only in the UK, but also in some other countries around the world.
The euro, as a young currency, received its sign as a result of an analysis of the public opinion of Europeans. It is believed that the authors of € were four experts, whose names for some reason it was decided not to disclose.
According to the European Commission, the graphic image of the euro carries meaning European civilization(it is symbolized by the Greek letter “epsilon”), identity with Europe itself (the letter “E”) and stability (parallel lines crossing the letter).
From $ to €
The first use of a symbol of any (some) currency dates back to 1972. It may be necessary if, for example, the symbol of the required currency is not available in a computer font.
Designation of any currency
The sign of some currency is a circle from which, like the sun, four rays extend at an angle of 90 degrees relative to each other.
Anna Teplitskaya
What do you think is the most valuable currency in the world today?
Most believe that the British pound is the most expensive currency, however, as it turns out, this is not the case.
Especially for blog readers, we have compiled a list of the most powerful currencies in the world (as of January 20, 2020).
So, the most expensive currency in the world...
#1 – Kuwait Dinar ($3.29)
Currency code - KWD.
Kuwaiti dinar exchange rate:
1 KWD = 3.29 USD(Kuwaiti dinar to dollar).
1 KWD = 202.94 RUB(Kuwaiti dinar to ruble).
The most expensive currency in the world is the Kuwaiti dinar.(relative to the dollar and Russian ruble).
Kuwait is a small country with enormous wealth. The high value of its currency is explained by the significant export of petroleum products to the world market.
Thanks to its stable economy, highly developed oil production and export industry, Kuwait is considered one of the richest countries in the world.
More than 80% of the country's income comes from oil industry, since the extraction of black gold here is the easiest and, accordingly, the cheapest in comparison with other countries.
Until 2003, the Kuwaiti dinar was pegged to the dollar, but in 2007 the government decided to peg it to a multicurrency basket.
In addition to a very stable economy, Kuwait is a country with almost no taxes and a very low unemployment rate.
#2 – Bahrain Dinar ($2.66)
Currency code - BHD.
Bahraini dinar exchange rate:
1 BHD = 2.66 USD(Bahraini dinar to dollar).
1 BHD = 163.78 RUB(Bahraini dinar to ruble).
The Bahraini dinar is the second most valuable currency in the world.
Bahrain is an island state in the Persian Gulf with a population of just over 1 million people. As in the first case, the main source of income for this country is the export of black gold.
Interestingly, the Bahraini dinar is pegged to the dollar, and its value relative to the dollar has not changed for 14 years.
#3 – Oman Rial ($2.60)
Currency code - OMR.
Omani rial exchange rate:
1 OMR = 2.60 USD(Omani rial to dollar).
1 OMR = 160.17 RUB(Omani rial to ruble).
Oman is a country on the Arabian Peninsula. Thanks to its strategic location, it has a developed economy and high level life.
The Omani rial, like the Bahraini dinar, is pegged to the dollar.
Interestingly, the purchasing power of this currency is so high that the government has to issue paper notes in denominations of 1/2 and 1/4 rials. In the picture above you can see 1/2 rial.
#4 – Jordan Dinar ($1.41)
Currency code - JOD.
Jordanian dinar exchange rate:
1 JOD = 1.41 USD(Jordanian dinar to dollar).
1 JOD = 86.86 RUB(Jordanian dinar to ruble).
It is quite difficult to explain the high value of the Jordanian dinar, since the country is not particularly developed economically and lacks important resources such as oil. However, 1 Jordanian dinar is worth about $1.41, making it one of the 10 most expensive currencies in the world.
#5 – British Pound ($1.32)
Currency code - GBP.
British pound exchange rate:
1 GBP = 1.32 USD(British pound to dollar).
1 GBP = 80.18 RUB(British pound to ruble).
It is the British pound that everyone considers the most expensive currency in the world, but, as it turns out, it is only in 5th place.
By the way, the British colonies issue their own banknotes, which are visually different from the banknotes issued by the Bank of England, but are quoted 1 to 1.
So, there are also: Scottish, Northern Irish, Manx, Jersey, Guernsey, Gibraltar pounds, as well as the St. Helena pound and the Falkland Islands pound.
It's funny, but native Brits don't always want to accept "other" pounds as payment.
#6 – Cayman Islands Dollar ($1.22)
Currency code - KYD.
Cayman Islands dollar exchange rate.
1 KYD = 1.22 USD(Cayman Islands dollar to US dollar).
1 KYD = 75.01 RUB(Cayman Islands dollar to ruble).
The Cayman Islands are one of the world's top tax havens. These islands have given power to hundreds of banks, hedge funds and insurance companies.
In particular, due to its leadership among tax havens, the Cayman Islands dollar is worth about US$1.22.
#7 – European Euro ($1.11)
Currency code - EUR.
Euro rate:
1 EUR = 1.11 USD(euro to dollar).
1 EUR = 68.31 RUB(euro to ruble).
Even considering that the Euro is a currency Last year lost about 20% of its value, it is still one of the strongest in the world.
Part of its strength comes from the fact that it is the official currency of 17 European countries, including several economic heavyweights.
In addition, the Euro is the world's second reserve currency, covering 22.2% of all world savings (for the dollar - 62.3%).
#8 – Swiss Franc ($1.01)
Currency code - CHF.
Swiss franc rate:
1 CHF = 1.01 USD(Swiss franc to dollar).
1 CHF = 63.61 RUB(Swiss franc to ruble).
Switzerland is not only one of the richest countries in the world, but also one of the most stable. Her banking system known for its unshakable “Banking Secrecy”.
Moreover, their high-tech products are appreciated all over the world.
Pay attention to the original appearance of this bill. This is the only currency that I have seen that “looks” vertical.
#9 – US Dollar
Currency code - USD.
Dollar rate:
1 USD = 0.90 EUR(dollar to euro).
1 USD = 61.58 RUB(dollar to ruble).
Due to America's leadership on the world stage, its currency has achieved the title of “world reserve currency.” In other words, you can pay with dollars anywhere in the world.
#10 – Canadian dollar ($0.75)
Currency code - CAD.
Canadian dollar exchange rate:
1 CAD = 0.75 USD(Canadian dollar to US dollar).
1 CAD = 47.14 RUB(Canadian dollar to ruble).
The Canadian dollar is the world's fifth-largest reserve currency. It is often called the “loonie” after the bird featured on the $1 coin.
Dropped out of the top ten
Due to the dynamically changing economic and political situation in the world, it is difficult for a currency to remain in this ranking, so here is a list of currencies that left the top ten in previous periods.
Australian dollar($0.68)
Currency code - AUD.
Australian dollar exchange rate:
1 AUD = 0.68 USD(Australian dollar to US dollar).
1 AUD = 42.35 RUB(Australian dollar to ruble).
Interestingly, the new range of Australian banknotes, as pictured above, will have a tactile feature (Braille) to help the visually impaired community identify the denomination of the note.
Azerbaijani manat($0.59)
Currency code - AZN.
Azerbaijani manat exchange rate:
1 AZN = 0.59 USD(Azerbaijani manat to dollar).
1 AZN = 36.30 RUB(Azerbaijani manat to ruble).
It is, of course, surprising to see the Azerbaijani manat on this list, but the currency of this Middle Eastern country is only slightly cheaper than the US dollar.
It should be noted that the local economy is actually quite strong, and the unemployment rate in the country is low.
Luigino of Seborg?
Have you ever heard of a currency called Seborg Luigino?
This currency belongs to the virtual state of the Principality of Seborga, which is located on the border of Italy and France. Luigino circulates primarily locally and is not considered legal tender in any other country.
But what’s interesting is that the local Luigino rate is 1 SPL = 6 USD, which could make this currency the most valuable in the world if it were officially recognized outside the principality.
Thus, despite the huge value of SPL, Luigino cannot yet take the first place in our list of the most expensive currencies in the world.
Is a high currency value a sign of a strong economy?
It is known that the currencies of not particularly successful countries tend to decrease in value. However, when the economy is doing well, we are unlikely to see the opposite effect.
Indeed, in practice there have been very few cases where the value of a currency has continually increased. The reasons may be different, but basically, the state itself does not benefit from the constant strengthening of the currency, because the population begins to actively save money instead of spending it.
Thus, the high value of the currency only indicates that inflationary processes in the country are under control.
In the context of this article, mention should also be made of Japan and its one of the strongest economies in the world. At the same time, the value of the Japanese yen is very small, $1 = ¥108.74.
Information about the highest value of currencies is unlikely to be used by investors to make any investment decisions. In this case, it is better to consider the most stable currencies.
By the way, did you know that you cannot use images of banknotes without the inscription “SPECIMEN”? Let’s learn to obey the laws, comrades!
