Monetary units of the countries of the world differ in name and relationship with world or global currencies. It is the latter that serve to carry out international mutual settlements and are accumulated by central state banks of different states as financial reserves. When the world was hit by a global economic crisis (2008), the Russian Federation, together with China, began to raise the issue of revising the role of the world currency.

What are “reserve currencies”

There is money in the world that national banks in all countries of the world are trying to accumulate. They serve for mutual settlements between different states. In addition, accumulated international reserve funds help maintain the stability of the monetary unit of a particular state entity.

The main reserve monetary unit during the 18th - 19th centuries was the English pound sterling. However, later, especially after World War II, the American dollar began to dominate as an interstate unit of account. At the same time, the English pound has the highest exchange rate - in relation to both the American dollar and the pan-European euro.

After the emergence of the single European currency, the euro, the US dollar remained the main reserve unit in the world. Thus, international savings in dollars amounted to more than 63%, while in euros - only 22% (as of the end of 2014). This is despite the fact that the euro, introduced in 1999, is the stronger, but still the second reserve unit in the world. The Swiss franc is also one of the world's reserve currencies due to its stability. The country’s monetary unit, sent by the Swiss National Bank to “free float” in 2015, provoked a decline in the rates of major world currencies in relation to it. Although reserves in this monetary unit are less than 0.3%.

In recent years, the Japanese yen has also been considered a global reserve money, and as of this year, 2016, the Chinese yuan is also beginning to acquire this status. True, it is included by the IMF in the system of “special drawing rights”, which have a limited scope only within the IMF.

Freely and partially convertible currencies

Currency is banknotes and coins of a particular state that participate in commodity-money exchange. Freely convertible is a currency that is accepted as payment for a product or service not only in the country of its circulation, but also abroad. In this case, other people's money is exchanged for the currency of the country where the payment takes place. All money in the world is convertible to one degree or another. Within countries, they can be exchanged for other banknotes. But freely convertible currency is accepted for exchange in almost any country.

Today there are 17 freely convertible currencies. The main ones are the American and Canadian dollars, the British pound sterling, the euro, the Japanese yen and some others. In the Forex market, trading takes place only in freely convertible money.

Names of state currencies and their rates

Money from around the world is equivalent to the cost of any product or service. They themselves are the most liquid goods. The most common name for money in different countries of the world is the dollar. Paper bills have this name in more than 30 countries on all continents. So, in addition to the notorious American, there are Canadian, Singaporean, Australian, Zimbabwean, Jamaican and many, many other dollars.

The name of this money comes from the German word “thaler”. For the first time, a Scottish coin was named by this name, which corresponded in value to 30 shillings back in the 16th century. This name for money is even mentioned in Shakespeare's Hamlet. Some government entities use American money for internal payments and for carrying out interstate trade and financial transactions.

The strongest freely convertible currency in the world today (03/20/16) is the pound sterling. It is used not only in the UK, but also in some other countries. For example, in Maine, in Jersey. The ratio of the pound to the Russian ruble is 1:98.97. Among the post-Soviet states, Azerbaijan has one of the strongest monetary units in relation to the ruble. The Azerbaijani manat is equal to 42.08 Russian rubles. But one of the cheapest currencies is the Uzbek sum. It costs a little more than 2 Russian kopecks. But Belarusian “bunnies”, which have a similar name to Russian ones, cost even less. The price of the Belarusian ruble is 0.0033 RUB. Among freely convertible currencies, the cheapest against the ruble is the Japanese yen. It is equal to 0.6146 rubles.

Today the European Union includes 28 European states. But not all of them use the euro as the currency. Thus, 9 of them continue to use their own currency. In Sweden, the Swedish krona (RUB 8,333) is in circulation, in Switzerland - the Swiss franc (RUB 70.68), in the Czech Republic - the Czech crown (RUB 2,854). The new Romanian leu costs 17.03 rubles, and the Polish zloty costs 18.04.

Of the Middle Eastern monetary units, the most expensive in relation to the Russian currency is the Kuwaiti dinar. It costs as much as 227.2 rubles. For the names of money, there is an international standard ISO 4217. Its list includes more than 200 states and territories with their own or money, or the currencies of other states that are in circulation in a given territory.

The Russian Central Bank sets the exchange rate in relation to the money of only 35 countries. So, today there is no exchange rate of the Russian ruble against the Georgian lari, Egyptian pound, Iranian rial and many others. And this despite the fact that the Russian Federation has trade and economic relations with these states.

Foreign currency

A) cash, those. banknotes in circulation that are legal tender in a foreign country, as well as banknotes withdrawn or withdrawn from circulation, but subject to exchange for banknotes (banknotes, coins, treasury notes)

b) cashless, i.e. funds in accounts expressed in foreign currency units

Currency classifications

In science, there are many classifications of currency, in particular: In relation to the issuing state:

• national
• foreign
• collective (for example, SDR, formerly ECU, now the euro)

If possible, exchange for another currency:

• partially convertible
• non-convertible

According to the ratio of exchange rates:

• strong / solid (i.e. resistant to its denomination and to the rates of other currencies)
• weak/soft

By validity period

• constant
• temporary

Depending on the actual existence, they distinguish real, i.e. directly performing the function of money or conditional eg ECU.

Currency convertibility

Legal criteria for currency convertibility:

• The presence of a market exchange rate, the existence of a foreign exchange exchange (foreign exchange market), a flexible rate reflecting the real relationship between supply and demand
• Absence of regulatory restrictions on currency transactions
• The right of residents and non-residents to freely own and dispose of currency, including performing any transactions

Monetary system

Monetary system a) system of currency relations b) state-legal form of organization of currency relations

On a territorial basis they distinguish between national, regional and world monetary systems.

Elements of the national monetary system:

1. National currency

2. National currency parity

3. Convertibility conditions

4. National currency exchange rate regime

5. Currency restrictions/exchange controls

6. National regulation of the state’s international currency liquidity

Currency operations

In accordance with the legislation of the Russian Federation, currency transactions are understood as:

• acquisition by a resident from a resident and alienation by a resident in favor of a resident of foreign currency assets legally, as well as the use of foreign currency assets as a means of payment;

• acquisition by a resident from a non-resident or by a non-resident from a resident and the alienation by a resident in favor of a non-resident or by a non-resident in favor of a resident of currency valuables, the currency of the Russian Federation and domestic securities on a legal basis, as well as the use of currency valuables, the currency of the Russian Federation and domestic securities as a means of payment ; c) the acquisition by a non-resident from a non-resident and the alienation by a non-resident in favor of a non-resident of currency values, the currency of the Russian Federation and domestic securities on a legal basis, as well as the use of currency values, the currency of the Russian Federation and domestic securities as a means of payment;

• import into the customs territory of the Russian Federation and export from the customs territory of the Russian Federation of currency values, currency of the Russian Federation and domestic securities;

• transfer of foreign currency, currency of the Russian Federation, domestic and foreign securities from an account opened outside the territory of the Russian Federation to the account of the same person opened on the territory of the Russian Federation, and from an account opened on the territory of the Russian Federation to the account of the same person , opened outside the territory of the Russian Federation;

see also

Links

Wiktionary has an article "currency "

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• Currency reform (1839-1843)
• Witte's monetary reform

See what “Currency” is in other dictionaries:

Currency unit- a measure of the cost of goods (work, services) determined in accordance with national legislation, a unit in which the price of a product (work, service) is expressed. D.e. also called the counting measure. According to Art. 75 of the Constitution of the Russian Federation* official D.e.... ... Encyclopedia of Law

CURRENCY UNIT Legal Dictionary

Currency unit- a monetary sign established by law that serves to measure and express the prices of all goods and services, which is an element of the monetary system. Terminological dictionary of banking and financial terms. 2011… Financial Dictionary

CURRENCY UNIT- country, a currency legislated in the country, the main element of the country’s monetary system, which is a unit of monetary measurement. For example, the monetary unit of Russia is the Russian ruble, the US currency is the US dollar, ... ... Economic dictionary

currency unit- - [L.G. Sumenko. English-Russian dictionary on information technology. M.: State Enterprise TsNIIS, 2003.] Topics information technology in general EN monetary unit ... Technical Translator's Guide

CURRENCY UNIT- a banknote established by law; one of the elements of the national monetary system. Serves to measure and express the prices of all goods. D.e., as a rule, is divided into smaller proportional parts; in most countries… … Legal encyclopedia

CURRENCY UNIT- a state currency that exists in a given state, established by its constitution or law. In accordance with the Constitution of the Russian Federation (Article 75), the monetary unit in the Russian Federation is the ruble. Money issuance is carried out exclusively... ... Encyclopedic Dictionary of Constitutional Law

currency unit- the name of the country’s money established by law (ruble, dollar, mark, etc.). Element of the national monetary system. For ease of use, it is divided into small proportional parts, most often by 100 (1 ruble == 100 kopecks, 1 dollar... Large legal dictionary

CURRENCY UNIT- MONETARY UNITA unit established by the government of a country for use in calculations and containing the weight and fineness of the precious metal content established by law as a measure of value. D.e. The US is the gold dollar, although this coin... ... Encyclopedia of Banking and Finance

Country currency is a legally established means of payment, mandatory for conducting settlement transactions on the territory of the state. Its physical carrier is paper banknotes or banknotes and metal coins issued to ensure cash circulation. The monetary unit also circulates in non-cash form for settlements between business entities and individuals.

Payment means in each of the independent states have their own names, approved, as a rule, by a special legislative act.

List of currencies of the largest countries in the world:

• Australia – Australian dollar;
• Argentina - Argentinean;
• Brazil – Brazilian real;
• Great Britain - pound sterling;
• - euro;
• India – ;
• Canada – Canadian dollar;
• People's Republic of China - yuan;
• Russian Federation - ;
• United States of America - dollar;
• Japan - yen.

The names of national monetary units may have historical origins from the names of coins that were in circulation in a given territory. In another case, these are specially invented synthetic words. So, when the issue of a European currency was being decided, a neutral name was proposed - the euro. This name did not infringe on the national pride of the inhabitants of any of the countries that joined the union.

Monetary units of all countries of the world have three-letter designations in the form of codes established by the international standard ISO 4217:2008. They are used in official banking and legal documents for the convenience of users and allow the currency to be uniquely identified. This is especially true for means of payment that have the same name. For example, the American dollar is coded USD, the Canadian dollar is CAD, and the Australian dollar is AUD.

In the vast majority of countries, for the convenience of payments, there are exchangeable monetary units. Usually they are one hundredth of the country's main currency. Thus, the Russian ruble consists of 100 kopecks, and the American dollar – of 100 cents. The names of many small change coins have Latin roots, the basis for them is the word centum - one hundred.

In some states, there are more complex systems of subordination of the main and exchange currency units:

• In Saudi Arabia, one consists of 20 qirsh, which in turn is equal to 5 halalas.
• In Madagascar and Mauritania, monetary circulation is based on the fivefold number system. One ariary is equal to 5 iraimbilanya, and one ougiya consists of 5 khums.
• The Sovereign Military Order of Hospitallers of St. John of Jerusalem of Rhodes and Malta has a currency called the Maltese and consists of 12 tari or 240 grains.
• In Libya, Tunisia, Oman, Bahrain, Iraq and Kuwait, the means of payment consists of thousands of small change coins.
• In Vietnam, Hong Kong, Jordan, China and Macau, the ratio between the main currency and the exchange currency is 1 to 10.

In countries with high inflation, small coins are practically not used in cash and non-cash payments. So in our country the penny has practically gone out of circulation; a similar situation arose in Japan at one time. The return of small change usually occurs during monetary reform in the form of denomination. A recent example is the economic transformation in the Russian Federation in 1998.

The concept of monetary units of account

In some states, special means of payment are being developed and used for making payments by transferring funds between accounts. Cash units of account can only be used in the sphere of non-cash circulation. In most cases, they are entries in registers on electronic or paper media and are valid for a limited time.

In some countries, due to economic instability, surrogate means of payment or foreign currencies may be introduced. They can be used in cash circulation, for which banknotes are issued and coins are minted. Thus, on Liberty Island, in parallel with the Cuban peso, its convertible form is used, and in Myanmar, a special exchange certificate is used.

This list contains currencies from almost all countries, and also indicates the outdated currencies of the European Union countries, which currently use the euro currency.

Or monetary units, as they are otherwise called, for convenience, are collected in a list, divided into parts of the world and arranged alphabetically. Everything is on one page.

And by the way, some European countries did not agree to a common European currency immediately, but after some time. For example, the Slovak koruna switched to the euro only in 2008, and the country of Lithuania abandoned its litas literally in January 2015. And some countries do not change their currency to this day.

Europe

Austria – euro (until 2002 – schilling).
Albania – lek.
Andorra – euro (until 2002 – peseta).
Belarus (Belarus) – Belarusian ruble.
Belgium – euro (until 2002 – franc).
Bulgaria - Leo.
Bosnia and Herzegovina – convertible mark.
Great Britain – pound sterling.
Hungary – forint.
Germany – euro (until 2002 – mark).
Holland – cm. Netherlands.
Greece – euro (until 2002 – drachma).
Denmark - krona.
Ireland - euro (until 2002 - pound).
Iceland - krona.
Spain – euro (until 2002 – peseta).
Italy - euro (until 2002 - lira).
Cyprus – euro (until 2008 – pound).
Kosovo - euro (until 2002 - dinar, mark).
Latvia – euro (until 2013 – lat).
Lithuania – euro (until 2015 – litas).
Liechtenstein - franc.
Luxembourg - euro (until 2002 - franc).
Macedonia – dinar.
Malta – euro (until 2008 – lira).
Moldova (Moldova) – lei.
Monaco - euro (until 2002 - franc).
Netherlands - euro (until 2002 - guilder).
Norway - krona.
Poland – zloty.
Portugal – euro (until 2002 – escudo).
Russia – ruble.
Romania – lei.
San Marino – euro (until 2002 – lira).
Serbia - dinar.
Slovakia – euro (until 2008 – koruna).
Slovenia – euro (until 2007 – tolar).
Ukraine – hryvnia.
Finland – euro (until 2002 – brand).
France – euro (until 2002 – franc).
Croatia - kuna.
Montenegro – euro (until 2002 – dinar).
Czech Republic - crown.
Switzerland – franc.
Sweden - krona.
Estonia – euro (until 2010 – crown).

Asia

Abkhazia – Russian ruble.
Azerbaijan – manat.
Armenia – dram.
Afghanistan - Afghani.
Bangladesh - yes.
Bahrain – dinar.
Burma – cm. Myanmar.
Brunei - dollar.
Butane - ngultrum.
East Timor – US dollar.
Vietnam – dong.
Georgia – lari.
Israel - new shekel.
India – rupee.
Indonesia – rupiah.
Jordan – dinar.
Iraq – dinar.
Iran – rial.
Yemen - rial.
Kazakhstan – tenge.
Cambodia – riel, dollar.
Qatar – rial.
Kyrgyzstan – som.
China - yuan.
Korea - won.
Kuwait – dinar.
Laos – kip.
Lebanon – pound.
Malaysia – ringgit.
Maldives - rufiyaa.
Mongolia - tugrik.
Myanmar - kyat.
Nepal – rupee.
United Arab Emirates (UAE) – dirham.
Oman – rial.
Pakistan – rupee.
Saudi Arabia – rial.
Singapore - dollar.
Syria – pound.
Tajikistan – somoni.
Thailand – baht.
Turkmenistan – manat.
Türkiye - lira.
Uzbekistan – sum.
Philippines - pesos.
Sri Lanka – rupee.
South Ossetia – Russian ruble.
Japan - yen.

America (North and South)

Anguilla – US dollar.
Antigua and Barbuda – East Caribbean dollar.
Argentina - pesos.
Aruba - florin.
Bahamas – dollar.
Barbados – dollar.
Belize - dollar.
Bermuda – dollar.
Bolivia - Boliviano.
Brazil - real.
Venezuela - bolivar.
Virgin Islands – US dollar.
Haiti is a gourde.
Guyana - dollar.
Guadeloupe – euro.
Guatemala - quetzal.
Guiana (French) – franc.
Honduras - Lempira.
Grenada – East Caribbean dollar.
Dominica – East Caribbean dollar.
Dominican Republic – peso.
Cayman Islands – dollar.
Canada - dollar.
Colombia – peso.
Costa Rica - Colon.
Cuba - pesos.
Mexico - pesos.
Montserrat – dollar.
Nicaragua - Cordoba.
Panama – Balboa, US dollar.
Paraguay - Guarani.
Peru is the new salt.
Puerto Rico – US dollar.
Saba – US dollar.
El Salvador - US dollar (until 2001 - colon).
Saint Pierre and Miquelon - euro (until 2002 - franc).
St. Vincent and the Grenadines – East Caribbean dollar.
St. Kitts and Nevis - East Caribbean dollar.
Saint Lucia – East Caribbean dollar.
Sint Maarten - guilder.
Sint Eustatius – US dollar.
United States of America (USA) – dollar.
Suriname - Suriname.
Turks and Caicos – US dollar.
Trinidad and Tobago – dollar.
Uruguay - pesos.
Falkland Islands – pound.
Chile - pesos.
Ecuador – sucre, US dollar.
Jamaica - dollar.

Africa

Algeria - dinar.
Angola - Kwanzaa.
Benin – CFA franc.
Botswana - Pula.
Burkina Faso – CFA franc.
Burundi – franc.
Gabon – CFA franc.
Gambia - Dalasi.
Ghana – cedi.
Guinea – franc.
Guinea-Bissau – CFA franc.
Democratic Republic of the Congo – franc.
Djibouti – franc.
Egypt – pound.
Zambia - Kwacha.
Zimbabwe – US dollar.
Cape Verde - escudo.
Cameroon – CFA franc.
Kenya – shilling.
Congo – CFA franc.
Côte d'Ivoire – CFA franc.
Lesotho – Loti.
Liberia - dollar.
Libya - dinar.
Mauritius – rupee.
Mauritania - ouguiya.
Madagascar - Ariary.
Malawi - Kwacha.
Mali – CFA franc.
Morocco – dirham.
Mozambique is metical.
Namibia - dollar.
Niger – CFA franc.
Nigeria – naira.
Reunion – euro.
Rwanda – franc.
Sao Tome and Principe are good.
Swaziland - Lilangeni.
Seychelles – Rupee.
Senegal – CFA franc.
Somalia – shilling.
Sudan – pound.
Sierra Leone - Leone.
Tanzania – shilling.
Togo – CFA franc.
Tunisia - dinar.
Uganda – shilling.
Central African Republic – CFA franc.
Chad – CFA franc.
Equatorial Guinea – CFA franc.
Eritrea - Nakfa.
Ethiopia - Birr.
South Africa – rand.
South Sudan – pound.

Australia and Oceania

Australia - dollar.
Vanuatu - Vatu.
Kiribati – Australian dollar.
Marshall Islands – US dollar.
Micronesia – US dollar.
Nauru – Australian dollar.
New Zealand - dollar.
Palau – US dollar.
Papua New Guinea - kina.
Samoa - tala.
Solomon Islands – dollar.
Tonga - pa'anga.
Tuvalu - Australian dollar.
Fiji - dollar.

Abaz, Iranian silver coin, widespread in the 16th-17th centuries. in countries Caucasus, Middle East and Central Asia. Got its name from the Shah of Iran Abbas I(1587-1628), during which its production began.

Altyn, old Russian monetary unit. The term comes from the Tatar word alty - six, because initially the altyn was equal to 6 money.

Balboa, monetary unit of Panama. Named in honor of the conquistador, discoverer of the Pacific Ocean Vasco Nunez de Balboa.

Bolivar, currency unit Venezuela, and previously Uruguay. Named after the Latin American independence fighter Simon Bolivar.

Dirham (dirham), the name of coins and monetary units, mainly in Arab countries. The name goes back to Greek.

Penny, plural form of the English word penny(). At the same time the word penny used when denoting multiple denominations, for example two pence - two penny coin, in contrast to the expression two pennies, which is used to represent two 1 penny coins.

Peseta, the name of the coin and modern currency of Spain. Spanish word peseta literally means small.

Sentimo, the name of a small change coin equal to 1/100 of the national currency in a number of Spanish-speaking countries. The etymology of the name is the same as that of.

Centavo, the name of a small change coin equal to 1/100 of the national currency in a series Luso-speaking countries The etymology of the name is the same as that of.

Sucre, monetary unit of Ecuador, named after Antonio José de Sucre, a fighter for the independence of the Spanish colonies in America.

Cent, the name of a small change coin equal to 1/100 of the national currency (usually) in a number of countries. The etymology of the name is the same as that of.

Centesimo, the name of an Italian small change coin equal to 1/100. The etymology of the name is the same as that of.

Chervonets, the name that was originally given in Russia to foreign high-grade coins (made from red gold). Then Russia began issuing its own gold coins and the name chervonets passed on to them.

Shekel, monetary unit in ancient Judea and modern Israel. The name comes from the Semitic word saqal - weigh.

Shilling, the name of the coin and monetary unit of a number of countries. Known in Europe since the Middle Ages. The name comes from the name of an ancient Roman coin solid.

Ecu, antique French gold coin. The name of the coin comes from the French word ecu-shield.

Escudo, the name of Spanish and Portuguese gold coins, as well as the modern monetary unit of Portugal and some other countries. The name comes from the Spanish word escudo - shield.