Most of the nations in the world have their own currency. This means, the money used in the nations to pay for transactions differ border to border. This is what keeps the world economy functioning smoothly. Factors such as exchange rates and the condition of a stock market are deeply entwined with the world currencies that exist. However, someone has to emerge as the winner. Thus, it comes as no surprise that international trade with the top most and strongest currencies of the world is on everyone bucket list as well as priority list. Read ahead to find out which are the top three currencies of the world. Besides knowing their names, it’s also time to know what makes them so desired and also some other fun facts.
- US Dollar: Dollar is the currency that is most used and originated in the world’s super power that is known by the name of United States of America. You would be surprised to know that the all- encompassing dollar of the United States of America is also referred to as greenbay. Also, it is highly imperative to note that the UD dollar is one of top most and strongest currencies of the world. You must be wondering that what makes it so strong and dominating? You must have often heard your parents talk about the value of your currency in comparison to the dollar. The answer to your thought is that dollar accounts for more than fifty percent of the world’s foreign exchange reserves of all central banks put together. It is, in fact, 64% to be precise. That is actually more than half. Also, 7 countries other than the United States of America have adopted the dollar as their own.
- European Euro: First of all, you must know that the European Central Bank is the central bank for all states that deal in Euro. Now, it is highly imperative to note that in comparison to the US dollar, the European Euro is known to be a slower currency. However, you must know as a matter of fact that the European Euro is not applicable and useful in every part of the continent. A good example to site this will be the dominance and use of the Great Britain Pound, also known as GBP, in London and all over UK. In fact, in other parts of the continent too, Brexit has played a major role in determining which state will be a part of which nation and continent.
- Japanese Yen: Let’s get you interested in this with a fun fact to begin with. The Bank of Japan is the central bank for the second largest economy in the world at the present. Yes, you read that right! Japan is known not only for its healthy lifestyle, punctuality and cherry blossoms all over the globe but also its advanced technology and supreme excellence in terms of world economy. However, please make note that the Japanese yen has quite a low interest rate.