Naguib Mahfouz
See also: Currency
A currency is a monetary Unité . It is generally emitted under the control of a Central bank.
Each country has an official currency having legal tender on its territory. Several countries can:
- to share the same name for their currency (American dollar and Canadian dollar)
- to use the same currency (case of the Euro)
- to adopt a foreign currency like legal monetary unit (case of Panama with the American dollar)
For practical reasons, each currency is often subdivided in another unit equal to a fraction of the legal currency: 1/1000 (the Millimes of the Tunisian Dinar), 1/100 (the Centime of the Euro), 1/10 (even 1/5 or 1/20).
Contemporary currencies
To find which is the currency of a particular country, you can go on the page: List of the countries of the world.
Each currency is coded using three letters (cf Norme ISO 4217): the two first specify the country and last the sound initial. Thus the American dollar S and Canadian are respectively coded USD (US=United States, D=dollar) and CAD (CA=Canada), delivers it English GBP (GB=Great Britain, P=pound). The Euro is an exception coded EURO because it relates to several countries.
Nomenclature of the currencies
Monetary symbols
They were made obsolete by the standard ISO 4217.
Some symbols:
- $ - Dollar
- ¥ - Yen - Japan
- € - Euro - Currency of the European economic Union
- ₣ - French franc - Old French currency
- £ - Pound sterling (pound) - currency of the United Kingdom
See also: monetary Symbol
Quotation of the currencies
The course of the currencies (Foreign exchange rate between two currencies) is fixed on the foreign exchange market.
See too
- List of the old currencies
Simple: Currency
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