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Q.

Do you know the types of currencies used globally?

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Detailed Solution

Yes. Currencies are the medium of exchange used in different countries, and there are more than 180 recognized by the United Nations. Some of the most widely used include:

  • US Dollar (USD) – The world’s primary reserve currency.

  • Euro (EUR) – Common across many European Union countries.

  • British Pound (GBP) – One of the oldest currencies still in use.

  • Japanese Yen (JPY) – A key currency in Asia.

  • Chinese Yuan (CNY) – Also called Renminbi, increasingly important in global trade.

  • Indian Rupee (INR) – Used by one of the largest populations worldwide.

  • Other Examples: Canadian Dollar (CAD), Australian Dollar (AUD), Swiss Franc (CHF), Russian Ruble (RUB), Brazilian Real (BRL), and South African Rand (ZAR).

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