The US dollar is still the most widely used currency market (Getty)
Dozens of currencies are used by countries all over the world, the names of some of them may be similar in several countries, but the value of each differs from the other. value difference.
In this report, we review the most prominent currencies that are similar in the world, the most important countries that use them, and the origin of these currencies.
The rial is of Austrian origin
The currency of the riyal dates back to the year 1741 AD, and it was a silver coin, and it bore several names: the Austrian riyal, the dollar or the Maria Theresa thaler, after the name of Queen Maria Theresa who ruled Austria, Hungary and Bohemia.
The riyal was used widely until the end of World War II in Africa from north to Somalia, Ethiopia, Kenya, Zanzibar and Mozambique, and it was the first currency used in the United States.
The riyal is currently used in six countries around the world, including four Arab countries, namely: Saudi Arabia, Oman, Qatar, and Yemen, in addition to Brazil and Iran.
The dinar is one of the oldest currencies
The dinar currency has a great historical extension, as it was used in the Byzantine Empire and the Islamic eras during the Umayyad and Abbasid states, and the dinar is currently used in nine countries around the world, seven of which are Arab countries: Kuwait, Bahrain, Iraq, Jordan, Libya, Tunisia, Algeria, in addition to Serbia and North Macedonia.
The dinar was also the currency of Syria, Sudan, Abu Dhabi, South Yemen, Croatia, Yugoslavia, and Bosnia and Herzegovina.
lira in 3 countries
The lira is the official currency of Turkey, Lebanon, and Syria at present, and the value of each of them differs, as the dollar equals 18.8 Turkish liras, while the Lebanese currency in the parallel market is equivalent to about 57,000 pounds to the dollar, while the Syrian pound is equivalent to 6,650 pounds in the parallel market.
The lira was the official currency of Italy until 1999, and it remained a national currency alongside the euro until 2002, just as the lira was the currency of Libya until the fifties of the last century, and it was also the currency of Malta before it was replaced by the euro at the end of 2007, and earlier the lira was the currency of the Ottoman Empire since the middle of the century The nineteenth until its end in 1923 AD.
The pound.. a British legacy
A number of currencies in circulation at the present time bear the name of the pound in Egypt, Sudan, South Sudan, the United Kingdom, and a number of countries belonging to the British crown, such as: the Falkland Islands, Gibraltar, Guernsey, the Isle of Man, Jersey, Saint Helena and its dependencies: Ascension, and Tristan da Cunha.
It is worth noting that the pound sterling is one of the oldest currencies in circulation, as its origins go back to 775 AD, and the pound began to be printed in the form of paper currency since the eighteenth century, while the South Sudanese pound is one of the most recent pounds, as it was recognized since mid-2011.
The pound was also used previously in a number of countries: such as Libya, Australia, Canada, Ireland, Scotland, the Bahamas, Bermuda, Cameroon, Gambia, Ghana, Liberia, Nigeria, Jamaica, South Africa, and the British colonial countries in America.
Wide spread of the dollar
The US dollar is the official currency of the United States, and it is issued exclusively by the Central Bank of America, but there are a number of countries that adopt it as the main and legal currency for trading on their lands alongside or as an alternative to their national currency, and there are also a number of countries that adopt an independent special currency in the name of the dollar.
In a historical precedent, Ecuador announced the adoption of the dollar as its official currency in the year 2000, due to the economic crisis in 1999, which caused the collapse of the local currency, the “sucre”, and lost its value, as the dollar became equal to 25,000 sucre.
In Panama, the US dollar is the official currency in the country, along with the national currency “balboa”, and both carry the same value as the balboa is linked to the dollar.
In addition to its national currency, the list of countries that rely on the dollar as an official currency includes other countries such as: El Salvador, Canada, Puerto Rico, Mexico, and Zimbabwe, and the latter has other official currencies besides the dollar, such as: the euro, the pound sterling, the Indian rupee, the Japanese yen, and the southern rand. African.
In addition, a number of currencies around the world bear the name “dollar” as in Australia, Canada, Barbados, Bahamas, Bermuda, Brunei, Solomon Islands, most eastern Caribbean countries, Fiji Islands, Jamaica, Liberia, Namibia, New Zealand, Singapore, and Taiwan .
The euro inherits the European currencies
The euro is currently the official currency of 19 out of 27 member states of the European Union known as the eurozone, in addition to 4 small European countries that are not in the European Union, and the regions of Akrotiri and Dalkia belonging to the British Overseas Territories. The euro is also used outside the European continent in a number of Territories with special membership in the European Union.
The euro is the second largest and most traded currency in the foreign exchange market after the US dollar, and the second largest cash reserve after the dollar, with a value of approximately $1.09.
After the adoption of the euro in the 19 countries, each country abandoned its national currency, such as the German mark, the French franc, the Italian lira, and others, so that the euro became the official currency of these countries.
The most widely traded peso in Latin America
The peso is the most traded currency in Latin America, where the currencies of Mexico, Argentina, Uruguay, the Philippines, Cuba, Colombia, the Dominican Republic, and Chile bear the name of the peso.
The value of the peso in each country differs from the other, as the US dollar equals 4,509 Colombian pesos, about 805 Chilean pesos, 185 Argentine pesos, about 56 Dominican pesos, about 55 Philippine pesos, 39 Uruguayan pesos, and 24 Cuban pesos, while it is equal to about 19 Mexican pesos. .
The peso was previously traded in: Spain, Venezuela, Bolivia, Costa Rica, Ecuador, El Salvador, Equatorial Guinea, Guatemala, Guinea-Bissau, Honduras, Nicaragua, Paraguay, Peru and Puerto Rico.
franc
The franc is currently circulating in Switzerland and Liechtenstein, and a number of African countries that were previously either French, Portuguese or Spanish colonies, and the value of the franc in African countries is linked to the euro.
And there is a Central African franc and it is circulated in Chad, Cameroon, Congo, Central Africa, Equatorial Guinea, Gabon, and another West African franc and is circulated in Benin, Burkina Faso, Ivory Coast, Guinea-Bissau, Mali, Niger and Senegal.
The CFA franc is one of France’s tools to maintain its influence in the region, as central banks in the countries concerned must keep 50% of their foreign assets in the French treasury.
The franc was previously the currency of: France, Algeria, Morocco, Tunisia, Mauritania, Andorra, Belgium, Luxembourg, Madagascar, and Monaco, before abandoning it.
8 countries use the rupee
Historically, the first currency called the rupee appeared around 900 BC, and it dates back to ancient India, which arose between the sixth and eighth century BC. Ancient India was the first to issue metal coins around the world, and it means in Sanskrit “silver coin”.
The rupee is currently the name of the currency of India, Indonesia, Nepal, Pakistan, Seychelles, Sri Lanka, Mauritius and Zimbabwe.
The value of the rupee differs in each of the previous countries, where the Indonesian rupee is the least valuable and one dollar equals about 14,976 Indonesian rupees, and the Seychellois rupee is the highest value, as the dollar equals about 14 Seychellois rupees.
Krone in the European North
The krone is the currency of Denmark, the Czech Republic, Iceland, Norway and Sweden.
In the Czech language, it means the word “crown”, and the value of the krone differs from one country to another, where the Danish krone is the highest value compared to the rest, and the dollar equals 6.82 Danish kroner, while the Icelandic krone has the lowest value, as the dollar equals 144 Icelandic kroner.