Libya Currency- Libyan Dinar

The Libyan dinar is the official currency used in Libya. Denoted by LYD, one Libyan dinar can be divided into 1000 Libyan dirhams. During the time Libya was still a part of the Ottoman Empire, the country used the Ottoman Empire currency, piastres. When Italy started taking over, the lira was introduced. The introduction of the lira sparked the trend of using a different currency for different territories. At one point, the lira, Algerian franc and Egyptian pound were used nationwide. When Libya gained its independence in 1951, the Libyan pound was introduced. In 1971, the Central Bank of Libya introduced the nation's existing currency: the Libyan dinar. Today, the Bank supervises the banking system and regulates credit. In 1972, the Libyan Arab Foreign Bank was established to deal with matters pertaining to overseas investments

Albanian Currency

Albanian:-The national currency is the Lek, and notes are in denominations of Lk5000, 1000, 500, 200 and 100. Coins are in denominations of Lk50, 20, 10, 5, 2 and 1, and currency can be exchanged at bureaux de change and banks. US dollars and Euros are the preferred foreign currencies.

Afghanistan Currency

The unit of currency in Afghanistan is the afghani, which is divided into 100 puls. Since 1981 the official rate of exchange has been fixed at 50 afghanis equal U.S.$1. However, the actual market rate of the afghani has fluctuated, and in 1994 2400 afghanis equaled U.S.$1. Dramatic inflation (with rates of up to 57 percent), which has been taking place in Afghanistan since the Soviet invasion, contributed to the drastic decrease in the purchasing power of the afghani from 1981 to 1994.

Saudi Arabia Currency

Saudi Riyal:-The riyal has been the currency of Saudi Arabia since the country came in to being and was the currency of Hejaz before Saudi Arabia was created. The Hejaz riyal was initially equivalent to the Ottoman 20 qurush coin and was consequently divided into 20 qurush, each of 40 para.

Kuwaiti Currency-dinar

The Kuwaiti Dinar, denoted by KWD, is the official currency of Kuwait. The KWD, which is divided into 100 units, was introduced to Kuwait in 1960 as a replacement for the Indian Rupee. The currency has maintained a very high exchange rate, making it one of the highest valued currencies in the world. Sovereign credit ratings play an important part in determining a country's access to international capital markets, and the terms of that access. Sovereign ratings help to foster dramatic growth, stability, and efficiency of international and domestic markets

Japan Currency-Yen

The yen is the official national currency of Japan, and is denoted by JPY. The Meiji government introduced the yen to replace the previous complex system of the Edo Period, where there was no fixed exchange rate between the various coins used. The New Currency Act of 1871 established the yen as the official unit of currency and moved Japan onto the Gold Standard. It was named the "yen" because of the direct translation to "round object." In April of 1949, the yen was pegged at 1 USD = ¥360, where it stayed until 1971. At this time, however, the Bretton Woods system collapsed. This international monetary system, based on stable and adjustable exchange rates, was reluctantly switched to a regime of floating exchange rates and the value of the yen started to float as it still does today.

Mexico Currency-Peso

The Mexican peso, MXN, was originally based on the silver dollar of Imperial Spain. It was originally minted from pure silver and was the first currency to use a distinct border and exact weight to protect from counterfeits, making it very popular. On July 6, 1785 the peso became the official currency system for all of North America, including the United States. When the U.S. dollar was introduced on April 2, 1792, it was based on the peso with the exchange rate of 1 dollar to 1 peso. The peso continued to be officially accepted in the U.S. until 1857, and in Canada until 1858. The peso was a very stable currency experiencing very little inflation until the 1970s when Mexico experienced an oil crisis and was forced to default on its external debt in 1982. Several years of inflation and devaluation followed until 1993 when Mexico issued the Nuevo peso to replace the former peso. In 1993 the "Nuevo" was dropped from both the name and the notes and the peso is again the currency used in Mexico.

Indian Currency- Rupee

The Indian Rupee is the original official currency of India. The English translation of "Rupee" is "silver," and the name exists because it was previously a silver coin. This very fact had severe consequences in the 19th century, when the strongest economies in the world were on the gold standard. The discovery of vast quantities of silver in the U.S. and various European colonies resulted in a decline in the relative value of silver to gold. Suddenly, the standard currency of India could not buy as much from the outside world. Such circumstances led to what is now referred to as "the fall of the Rupee."

Bangladesh Taka - Currency

Currency : Bangladesh Taka (BDT) = 100 paisa. Notes are in denominations of BDT500, 100, 50, 20, 10, 5, 2 and 1. Coins are in denominations of BDT5 and 1, and 50, 25, 10 and 5 paisa. The import and export of local currency is limited to BDT100. Reconversion of local currency is permitted up to BDT500 or 25 per cent of the amount exchanged on arrival. The import of foreign currency is allowed but amounts greater than US$150 must be declared on arrival. The export of foreign currency is limited to US$150 or the amount declared on arrival.

Brunei Curreency

The dollar, denoted by BND, is the official currency of Brunei. As Singapore is one of Brunei's major trading partners, the BND is pegged to the Singapore dollar at a 1:1 ratio. The Brunei dollar is also known as "ringgit" locally in Malay, and this can be seen printed on the banknote itself. Polymer banknotes of the currency were introduced in 2004, due to high cases of banknote forgery.
Sovereign Ratings for Brunei Brunei is not rated.

Brazilian currency - Real, reais

Since 1994, the Brazilian currency has been the Real (plural: Reais), symbol is R$.
Because of the very high inflation rates which Brazil had in the 1980s and early 1990s, the country had to change currency several times: Brazilians were used to dealing with Cruzeiros until 1986; that year, an economic plan cut three zeros from the bills and changed the currency to Cruzado; a few years later, another three zeros were dropped, and Brazilians were introduced to the Cruzados Novos ("new cruzados"). In 1990, the Cruzados Novos were retired, and the Cruzeiros were back; in 1993, the Cruzeiros lost another three zeros and were turned into Cruzeiros Reais.In 1994, after the deployment of a new monetary plan, the new currency, called Real, came to life. Read more about the Real Plan, which preceeded the launching of the Real.

Sri Lankan-currency

Currency:-
Currency of Sri Lanka is Sri Lankan Rupee. One Sri Lankan Rupee consists of 100 cents. Coins come in the denomination 5, 10, 25 and 50 cents and Rs. 1, 2, 5 and 10. The higher value denominations are found as notes, namely Rs.10, 20, 50, 100, 200, 500 and 1000.Travelers Cheques and foreign currency can be exchanged at various commercial banks and hotels. Banks charge a 0.5% handling fee and a commission, which varies from bank to bank, while encashing Travelers Cheques. The use and acceptance of credit cards is widespread. While visiting a remote area it is advisable to arrange for an alternative mode of payment apart from credit card.The approximate value of Sri Lankan money vis-à-vis major currencies of the world is given below.

Thailand currency

Monetary History
This is the picture of currency of Thailand.The Thailand currency is called baht Until 1897, the baht was subdivided into 8 fuang, each of 8 att. The present decimal system, in which one baht = 100 satang , was introduced by king Chulalongkorn. However, until the 1940s it was named tical, then renamed to baht. Originally the term baht was a weight unit of about 15 g and was adopted because one tical was equivalent to 15 g of silver.For more information about exchange rates click on the following LINK.

China-currency

History of Chinese Currency :-
The renminbi was first issued shortly before the takeover of the mainland by the Communists in 1949. One of the first tasks of the new communist government was to end the hyperinflation that had plagued China near the end of the Kuomintang era.
During the era of the command economy, the value of the RMB was set to unrealistic values in exchange with western currency and severe currency exchange rules were put in place. With the opening of the mainland Chinese economy in 1978, a dual track currency system was instituted, with renminbi usable only domestically, and with foreigners forced to use foreign exchange certificates. The unrealistic levels at which exchange rates were pegged led to a strong black market in currency transactions. For more click on the following Link

U.K-currency

Early currency:- British pound (GBP)is the currency of U.K. The origin of currency is the creation of a circulating medium of exchange based on a store of value. Currency evolved from two basic innovations: the use of counters to assure that shipments arrived with the same goods that were shipped, and the use of silver ingots to represent stored value in the form of grain. Both of these developments had occurred by 2000 BC.

This first stage of currency, where metals were used to represent stored value, and symbols to represent commodities, formed the basis of trade in the Fertile Crescent for over 1500 years. However, the collapse of the Near Eastern trading system pointed to a flaw: in an era where there was no place that was safe to store value, the value of a circulating medium could only be as sound as the forces that defended that store. Trade could only reach as far as the credibility of that military. For more iformation click on folowing Link

Malasaya-currency

Malaysian ringgit:-Do you know what the currency and history of currency of Malasaya? The currency is runget and coin is called sen.The unit of currency is the Malaysian Ringgit indicated as (RM) which is equivalent to 100 sen. Coins are issued in denominations of 1 sen, 5 sen, 10 sen, 20 sen, 50 sen and RM1.00. Currency notes are in RM1, RM2, RM5, RM10, RM20, RM50, RM100, RM500 and RM1,000. The Ringgit is freely convertible. Foreign currency and travelers cheques can be converted to Malaysian Ringgit at banks or authorized money changers throughout the country. As of January 1997, the rate of exchange was approximately US $1.00 = RM $2.50.

Singapore-currency

History
As you all know currency of singapore is Singapor-dollar and the coin is called cents. But do you know the history of singapore currency?


Singapore continued to use the common currency upon joining Malaysia in 1963but, two years after Singapore's expulsion and independence from Malaysia in 1965, the monetary union between Malaysia, Singapore and Brunie broke down. Singapore established the Board of Commissioners of Currency, Singapore, on April 7, 1965and released its first series of notes, the "Orchid" notes on June 12,1967. Nevertheless, the Singapore dollar was exchangeable at par with the Malaysian dollar until 1973. Interchangeability with the Brunei dollar is still maintained.
The Board of Commissioners of Currency, Singapore, was dissolved on October 1, 2002 and its functions, property and liabilities had been transferred to the Montary Authority of Singapore. There are new types of currency made of plastic.If you want more information please click on the following LINK

US-currency

American currency is called US dollar and coin is called US cents.In the early days of the nation, before and just after the revolution, Americans used English, Spanish, and French money.
The Massachusetts Bay Colony issued the first paper money in the colonies which would later form the United States.
American colonists issued paper currency for the Continental Congress to finance the Revolutionary War. The notes were backed by the "anticipation" of tax revenues. Without solid backing and easily counterfeited, the notes quickly became devalued, giving rise to the phrase "not worth a Continental."
Also to support the Revolutionary War, the continental Congress chartered the Bank of North America in Philadelphia as the nation's first "real" bank.
The Continental Congress determined that the official monetary system would be based on the dollar, but the first coin representing the start of this system would not be struck for several years.
After adoption of the Constitution in 1789, Congress chartered the First Bank of the United States untill 1811 and authorized it to issue paper bank notes to eliminate confusion and simplify trade. The bank served as the U.S. Treasury's fiscal agent, thus performing the first central bank functions.
The federal monetary system was established with the creation of the U.S. Mint in Philadelphia. The first American coins were struck in 1793.
The second Bank of the United States was chartered for 20 years until 1836.
With minimum regulation, a proliferation of 1,600 local state-chartered, private banks now issued paper money. State bank notes, with over 30,000 varieties of color and design, were easily counterfeited. That, along with bank failures, caused confusion and circulation problems.
On the brink of bankruptcy and pressed to finance the Civil War, Congress authorized the United States Treasury to issue paper money for the first time in the form of non-interest bearing Treasury Notes called Demand Notes.
Demand Notes were replaced by United States Notes. Commonly called "Greenbacks," they were last issued in 1971. The Secretary of the Treasury was empowered by Congress to have notes engraved and printed, which was done by private banknote companies.
The design of U.S. currency incorporated a Treasury seal, the fine line engraving necessary for the difficult-to-counterfeit itaglio printing, intricate geometric lathe work patterns, and distinctive linen paper with embedded red and blue fibers.
Gold Certificates were issued by the Department of the Treasury against gold coin and buillion deposits and were circulated until 1933.
The Department of the Treasury established the United States Secret Service to control counterfeits, at that time amounting to one-third of circulated currency.
National Bank Notes, backed by U.S. government securities, became predominant. By this time, 75 percent of bank deposits were held by nationally chartered banks. As State Bank Notes were replaced, the value of currency stabilized for a time.
The Department of the Treasury's bureau of Engraving and Printing started printing all U.S. currency, although other steps were done outside.
The Department of the Treasury was authorized to issue Silver Certificates in exchange for silver dollars. The last issue was in the Series of 1957.
The Department of the Treasury's Bureau of Engraving and Printing assumed all currency production functions, including engraving, printing, and processing.
After 1893 and 1907 financial panics, the Federal Reserve Act of 1913 was passed. It created the Federal Reserve System as the nation's central bank to regulate the flow of money and credit for economic stability and growth. The system was authorized to issue Federal Reserve Notes, now the only U.S. currency produced and 99 percent of all currency in circulation.
Currency was reduced in size by 25 percent and standardized with uniform portraits on the faces and emblems and monuments on the backs.
Paper currency was first issued with "In God We Trust" as required by Congress in 1955. The inscription appears on all currency Series 1963 and beyond.
A security thread and microprinting were introduced, first in $50 and $100 notes, to deter counterfeiting by advanced copiers and printers. If you want to know more about US currency click on the following LINK

India-currency

History of the rupee:-India has been one of the earliest issuers of coins in the world and the coin is called paisa. The first "rupee" is believed to be introduced by Sher Shah Suri, based on a ratio of 40 copper-coin pieces (paisa) per rupee. Among the earliest issues of paper rupees were those by the Bank of Hindostan, the General Bank of Bengal and Bihar established by the Bengal Bank amongst others.
Historically, the rupee, derived from the Sanskrit word raupya, which means silver, was a silver coin. This had severe consequences in the nineteenth century when the strongest economies in the world were on the gold standard. The discovery of vast quantities of silver in the US and various European colonies resulted in a decline in the relative value of silver to gold. Suddenly the standard currency of India could not buy as much from the outside world. This event was known as "the fall of the Rupee.