Wednesday, August 8, 2012

Currencies Around The World

Currencies Around The World

Today we celebrate Dollar Day, which commemorates the day the U.S. dollar was created. These days the U.S. dollar is considered one of the world's dominant currencies, but see how it compares to money from other top economies around the world.


A hundred years ago Argentina was considered one of the world's wealthiest countries. After suffering a major economic crisis, things are slowly starting to rebound. Coins in the country, however, are becoming a rare sight.

Even though big stars like Nicole Kidman and Hugh Jackman are from Australia, its money is pretty popular on its own. The high interest rates in the foreign exchange market are usually a favorite for currency traders.

Austria has had a long reputation for its well-developed economy and high standard of living. In 2002, the country switched to a new money system, which is also used in several other countries.

For a country with few natural resources, Belgium has made good business on imports and exports, making it one of the world's largest trading nations. It's also a founding member of an economic group that partners with several other countries that use the same money system.

The largest country in South America, Brazil is also one of the world's fastest-growing major economies. In 1994, its money system was reformed in an effort to put an end to decades of high inflation.

In the 1800s this North American country used the British pound as its sole currency. Canada made its money switch before the 1900s, and since about 2009 its value has been hovering around the same level as the that of the U.S.

China's money literally means "round object." In the late 1800s its value was around the same level as currency from a Latin American country, but its value today could be at risk.

France ended its former currency in 2002. And even though it's known as one of world's wealthiest and most developed economies, it still took people in the country some time to become familiar with the new system.

Germany also ended its former currency in 2002. The country is known for its political history, but with so many global brands, it's no wonder the country also has a high standard of living.

India's currency was once linked to the U.S. dollar before it was devalued in 1975. As of 2011, the per capita income in the country ranked 129th in the world, making it a lower-middle-income economy.

Considered the largest economy in Southeast Asia, Indonesia was severely affected by a major financial crisis in 1997. The event caused a rapid depreciation of the country's money that still lingers today.

The name of Iran's currency is said to be derived from another country's former money system. Since the recent global financial crisis, Iran has been able to maintain a healthy economy due to higher gas prices in the last few years.

Although Italy shares a common currency with other European countries, its coins have unique designs on them, as well as well-known works of art from some of the country's most famous artists.

Before its current money system, Japan used another country's currency for more than 200 years. Today, Japan's money is one of the top traded currencies by value.

Mexico's money is the most traded currency in Latin America – and some of its bills are said to be the hardest to counterfeit. The bills have layers of plastic on them that appear to change color when the bill is tilted.

Home to the oldest stock exchange in the world, the Dutch claimed the guilder -- derived from the adjective "gulden," meaning "golden" – as its currency from the 17th century until 2002, when it was replaced.

The world's second-largest producer of oil and natural gas, Norway boasts the world's fourth-highest per capita income. The country also provides universal health care and subsidizes higher education for its citizens.

Since being introduced in 1924, Poland's currency has undergone redenomination four times, in large part due to inflation. The country is a huge supporter of gender rights: In 2011, Poles elected the first ever transsexual member of parliament in European history.

In the last decade, Russia has experienced economic growth due to greater political stability and higher consumption throughout the country. With extensive natural resources and rising employment, Russia's middle class has also increasingly grown.
Saudi Arabia

One of the fastest-growing countries in the world, Saudi Arabia boasts a fairly high per capita income. It's also home to the world's second-largest oil reserve.
South Africa

South Africa is home to many groundbreaking developments in science and technology: In 1967, the first human-to-human heart transplant was performed by cardiac surgeon Christiaan Barnard at Groote Schuur Hospital.
South Korea

In 2006, the South Korean government issued a new series of banknotes after more than 50 percent were found to be forged.

With a tourism industry that's grown to be the second largest in the world, Spain is also known for its leading role in the advancement of solar power.

After rejecting the euro, Sweden's current currency is sometimes referred to as the Swedish crown, as its name means "crown." Today, the Swedish Riksbank is the oldest central bank in the world.

One of the richest countries per capita in the world, Switzerland has the highest wealth per adult. Cities Zurich and Geneva have ranked on top 10 lists of the world's best cities in which to live.

Taiwan experienced extensive economic growth during the second half of the 20th century, resulting in an advanced technological industry. Its currency today is the result of hyperinflation during the 1940s: Its nationalist government created a new currency for Taiwan to stabilize the economy.

In the last decade, high inflation led to the launch of a new Turkish currency in hopes of stabilizing the country's economy. A leading shipbuilding nation, the country is ranked fourth in the production of megayachts.
United Arab Emirates

It's one of the safest countries in the Middle East, and you won't have to worry about finding ways to spend your hard-earned cash there. Grandiose cities Dubai and Abu Dhabi are known for their five-star hotels, Michelin star restaurants and designer boutiques.
United Kingdom

The Brits are known for unwavering dedication to tradition: When Prince William and Kate Middleton wed in 2011, taxpayers didn't even blink when footing part of the bill. The currency is no different. The United Kingdom opted to keep its independence in lieu of adopting the euro

Currencies Around The World Rating: 4.5 Diposkan Oleh: Arm Aritn


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