As it was known in ancient times, there was no currency and people bought what they needed through barter. This barter method would not have progressed very well, as a universally accepted method of buying and selling was needed. Thereupon, the first coins were minted in Western Anatolia around 600 BC. Money, which has developed over the years, is used in many different ways today. One of them is Bitcoin, although it is not officially accepted. Starting from the officially recognized currencies, we have discussed the currency by country and the full list of these currencies in detail. About the currency and currency of the countries, we can first start with the definition of currency.
What is the currency?
With its general definition, currency, coins and banknotes (paper money) are used as means of exchange, but in the economy, demand deposits and credit cards are also considered as money-forming elements. (Means of exchange such as time deposits and government bonds are considered money-like.) In addition, money can be defined as any legal instrument that is accepted as a payment for goods or services, taxes, and debt repayment provided by governments under certain regulations. At the same time, currency is a tool used by the buyer to buy goods or services from the seller.
Today, many countries in the world have their own currency. Therefore, a country cannot use its own currency in another country unless it is converted to the local currency at an exchange rate. Because countries can use a currency. For example, the 19 European Union member states use the euro (€) currency.
Why do countries need currencies?
Countries trade with other countries through both exports and imports. Generally, the export and import rates of most countries differ from each other. While exports are higher in one country, imports may be higher in another. Money is used as the main tool in all of these transactions, but the countries of the world have different currencies or currencies with different account units. Therefore, they cannot buy goods from another country using their local currency. On the other hand, the most common solution is to convert it into the currency of the relevant country through currency exchange.
Currency is important for a country because of the different exchange rate in countries. Countries use their foreign exchange reserves to compete in the export market, to increase investor confidence and to remain liquid during the crisis, to stabilize exchange rates. Money reserves are also necessary to balance external debt and finance various sectors of the economy.
Currency codes of countries
From the list of currencies by country, you can see which currency is used in which country, and you can see the short codes of these currencies.
Country | Currency | Sub Currency |
---|---|---|
Afghanistan | afghani | 100 puls |
Algeria | dinar | 100 centimes |
Andorra | euro | 100 cents |
Argentina | peso | 100 centavos |
Australia | dollar | 100 cents |
Austria | euro | 100 cents |
Bahamas | dollar | 100 cents |
Bahrain | dinar | 1,000 fils |
Barbados | dollar | 100 cents |
Belgium | euro | 100 cents |
Belize | dollar | 100 cents |
Benin | franc | 100 centimes |
Bolivia | boliviano | 100 centavos |
Brazil | real | 100 centavos |
Brunei | dollar | 100 cents or sen |
Bulgaria | lev | 100 stotinki |
Cameroon | franc | 100 centimes |
Canada | dollar | 100 cents |
Cayman Islands | dollar | 100 cents |
Central African Rep. | franc | 100 centimes |
Chad | franc | 100 centimes |
Chile | peso | 100 centavos |
China | yuan | 10 fen |
Colombia | peso | 100 centavos |
Congo | franc | 100 centimes |
Costa Rica | colon | 100 centimos |
Cuba | peso | 100 centavos |
Cyprus (Greek) | euro | 100 cents |
Cyprus (Turkish) | lira | 100 kurus |
Czechoslovakia | koruna | 100 halers |
Denmark | krone | 100 ore |
Djibouti | franc | 100 centimes |
Dominican Rep. | peso | 100 centavos |
Ecuador | dollar | 100 cents |
Egypt | pound | 100 piastres |
El Salvador | colon | 100 centavos |
Ethiopia | birr | 100 cents |
Fiji | dollar | 100 cents |
Finland | euro | 100 cents |
France | euro | 100 cents |
Gabon | franc | 100 centimes |
Gambia | dalasi | 100 bututs |
Germany | euro | 100 cents |
Ghana | cedi | 100 pesewas |
Greece | euro | 100 cents |
Guatemala | quetzal | 100 centavos |
Guinea | franc | 100 centimes |
Guyana | dollar | 100 cents |
Haiti | gourde | 100 centimes |
Honduras | lempira | 100 centavos |
Hong Kong | dollar | 100 cents |
Hungary | forint | 100 filler |
Iceland | Krona | 100 aurar |
India | rupee | 100 paise |
Indonesia | rupiah | 100 sen |
Iraq | dinar | 1,000 fils |
Ireland | euro | 100 cents |
Israel | shekel | 100 agorot |
Italy | euro | 100 cents |
Ivory Coast | franc | 100 centimes |
Jamaica | dollar | 100 cents |
Japan | yen | 100 cen |
Jordan | dinar | 1,000 fils |
Kenya | shilling | 100 cents |
Kuwait | dinar | 1,000 fils |
Lebanon | pound | 100 piastres |
Luxembourg | euro | 100 cents |
Malawi | kwacha | 100 tambala |
Malaysia | ringgit | 100 sen |
Maldives | rufiyaa | 100 laari |
Malta | euro | 100 cents |
Mauritania | ouguiya | 5 khoums |
Mauritius | rupee | 100 cents |
Mexico | peso | 100 centavos |
Mongolia | tugrik | 100 mongo |
Montenegro | euro | 100 cents |
Morocco | dirham | 100 centimes |
Nepal | rupee | 100 paisa |
Netherlands | euro | 100 cents |
New Zealand | dollar | 100 cents |
Nicaragua | cordoba | 100 centavos |
Niger | franc | 100 centimes |
Norway | krone | 100 ore |
Oman | riyal-omani | 1
,000 baiza |
Pakistan | rupee | 100 paisa |
Papua New Guinea | kina | 100 toea |
Paraguay | guarani | 100 centimos |
Peru | inti | 100 centimes |
Philippines | peso | 100 centavos |
Poland | zloty | 100 groszy |
Portugal | euro | 100 cents |
Qatar | riyal | 100 dirhams |
Romania | leu | 100 bani |
Russia | ruble | 100 kopeks |
Rwanda | franc | 100 centimes |
Saudi Arabia | riyal | 100 halalas |
Senegal | franc | 100 centimes |
Serbia | dinar | 100 paras |
Seychelles | rupee | 100 cents |
Sierra Leone | leone | 100 cents |
Singapore | dollar | 100 cents |
Slovakia | koruna | |
Slovenia | euro | 100 cents |
Solomon Islands | dollar | 100 cents |
Somalia | shilling | 100 cents |
South Africa | rand | 100 cents |
South Korea | won | 100 chon |
Spain | euro | 100 cents |
Sri Lanka | rupee | 100 cents |
Sudan | dinar | |
Suriname | guilder | 100 cents |
Sweden | krona | 100 ore |
Switzerland | franc | 100 centimes |
Syria | pound | 100 piastres |
Taiwan | dollar | 100 cents |
Tanzania | shilling | 100 cents |
Thailand | baht | 100 satang |
Togo | franc | 100 centimes |
Trinidad & Tobago | dollar | 100 cents |
Tunisia | dinar | 1,000 millimes |
Turkey | lira | 100 kurus |
Uganda | shilling | 100 cents |
Ukraine | hryvnia | 100 kopiyka |
United Arab Emir. | dirham | 1,000 fils |
United Kingdom | pound | 100 pence |
United States | dollar | 100 cents |
Uruguay | peso | 100 centesimos |
Venezuela | bolivar | 100 centimos |
Vietnam | dong | 100 xu |
Western Samoa | tala | 100 sene |
Zambia | kwacha | 100 ngwee |
Zimbabwe | dollar | 100 cents |
Total number of currencies in the world
Many countries in the world have their own currency. Some countries use the same currency as one or more other countries. Currently
, approximately 180 currencies are used around the world and these currencies are recognized by the UN.
On the other hand, the Kuwaiti dinar is the strongest and most valuable currency in the world. With the power and value attributed to Kuwait’s oil resources, it is also the world’s most valuable currency.
What is the most used currency in the world?
As can be expected, the US dollar ($) is the most used currency in the world. Besides the US, 22 other countries, including Australia and Canada, use different forms of the dollar currency.
The euro (€) is used by the 19 EU member states, making it the second most used currency. Another is the Pound sterling (£), the oldest currency still in use and is the official currency of the UK. Apart from these, other popular currencies are Japanese Yen (¥) and Indian Rupee (₹).
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