How Many Currencies Are There in the World?

It is a matter of interest for many that there are so many countries in the world with different currencies that hold different currency values.

Almost every country in the world uses different currencies which comes in different shape, size, texture, etc.

In this article, we will explore the list of currencies in the world with their symbols, understand what is a currency,s and the different types of currencies in the world.  

What is a Currency?

A Currency is a Middleware that is used for trading between two parties and the value of the currency is mutually agreed upon or provided by any central authority system.

Here the central authority system is usually the Central bank of that country and is formulated by adopting a monetary policy. The Central Bank is also responsible for the printing of the currency allowing the control of liquidation of the money in the market.

The entire economic system works on the control of the economy through printing, inflation control, and liquidation of the market. There is also an aspect of demand and supply of currency.

In an economy, the value of the currency is determined by the availability of the currency meaning, how much liquidation is in the market. In the market has high liquidation, the loan interest rate of the bank will be low, and the printing of the currency will at higher.

High printing would cause a loss of the currency value which gives rise to inflation Similarly, when there is less liquidation, the interest rate will be high any economic activity will be low and the currency value will be intact.

The monetary policies by the Central Bank are prepared by carefully anticipating and planning all these scenarios with consideration of various other factors like GDP growth, geopolitical outlook, credit ratings, FDI, etc.

Types of Currency

There are various types of currencies in the world. We can broadly differentiate the currency into three categories, which are as follows-

Digital Currency

Digital Currency is a new concept of currency that operates in Digital Infrastructure instead of paper-based systems. It uses blockchain to prepare a proper ledger of the transaction which is a non-central algorithm-based technology.

Using this currency, you’ll be able to transact easily without involving any third party and the digital transaction will be concluded easily from bank to bank.

The following are the countries that are exploring digital currency and are operating in the pilot phases-

• India
• Bahamas
• Nigeria
• China
• USA
• Jamaica
• UAE
• Ghana
• Malaysia
• Singapore
• Thailand

Cryptocurrency

Cryptocurrency is a newly adopted payment system that does not have central authority of any sort. It uses blockchain technology to conduct the transaction and record the transaction in its network of nodes.

The best thing about cryptocurrency is that it cannot be controlled by anyone and at the same time you can mine the cryptocurrency allowing you to earn as well.

The downside however is that the governments around the world are quite skeptical about it because it removes the participation of the central bank in the system and may act as a way to fund, operate, and transact anti-national activities as well.

Paper Currency

Paper Currency is the traditional currency that allows a user to transact with each other by carrying a physical currency note or coin with themselves allowing full control of the physical holdings of the currency.

Note that you only get the physical holdings of the currency but the monetary value changes as per the monetary policy of the Central Bank of the Country.

List of All Currency in the World in Circulation

According to the United Nations, there are 195 countries in the world and the total number of currencies that are in circulation is 180 currencies.

Each currency has a different value with respect to the other which totally depends on the printing strategy adopted by the Central Bank of the country. The following is the list of countries and their official currencies in the world-

Country and Currency	Currency Code	Symbol
Albania Lek	ALL	Lek
Afghanistan Afghani	AFN	؋
Argentina Peso	ARS	$
Aruba Guilder	AWG	ƒ
Australia Dollar	AUD	$
Azerbaijan Manat	AZN	₼
Bahamas Dollar	BSD	$
Barbados Dollar	BBD	$
Belarus Ruble	BYN	Br
Belize Dollar	BZD	BZ$
Bermuda Dollar	BMD	$
Bolivia Bolíviano	BOB	$b
Bosnia and Herzegovina Convertible Mark	BAM	KM
Botswana Pula	BWP	P
Bulgaria Lev	BGN	лв
Brazil Real	BRL	R$
Brunei Darussalam Dollar	BND	$
Cambodia Riel	KHR	៛
Canada Dollar	CAD	$
Cayman Islands Dollar	KYD	$
Chile Peso	CLP	$
China Yuan Renminbi	CNY	¥
Colombia Peso	COP	$
Costa Rica Colon	CRC	₡
Croatia Kuna	HRK	kn
Cuba Peso	CUP	₱
Czech Republic Koruna	CZK	Kč
Denmark Krone	DKK	kr
Dominican Republic Peso	DOP	RD$
East Caribbean Dollar	XCD	$
Egypt Pound	EGP	£
El Salvador Colon	SVC	$
Euro Member Countries	EUR	€
Falkland Islands (Malvinas) Pound	FKP	£
Fiji Dollar	FJD	$
Ghana Cedi	GHS	¢
Gibraltar Pound	GIP	£
Guatemala Quetzal	GTQ	Q
Guernsey Pound	GGP	£
Guyana Dollar	GYD	$
Honduras Lempira	HNL	L
Hong Kong Dollar	HKD	$
Hungary Forint	HUF	Ft
Iceland Krona	ISK	kr
India Rupee	INR	₹
Indonesia Rupiah	IDR	Rp
Iran Rial	IRR	﷼
Isle of Man Pound	IMP	£
Israel Shekel	ILS	₪
Jamaica Dollar	JMD	J$
Japan Yen	JPY	¥
Jersey Pound	JEP	£
Kazakhstan Tenge	KZT	лв
Korea (North) Won	KPW	₩
Korea (South) Won	KRW	₩
Kyrgyzstan Som	KGS	лв
Laos Kip	LAK	₭
Lebanon Pound	LBP	£
Liberia Dollar	LRD	$
Macedonia Denar	MKD	ден
Malaysia Ringgit	MYR	RM
Mauritius Rupee	MUR	₨
Mexico Peso	MXN	$
Mongolia Tughrik	MNT	₮
Morocco Dirham	MAD	د.إ
Mozambique Metical	MZN	MT
Namibia Dollar	NAD	$
Nepal Rupee	NPR	₨
Netherlands Antilles Guilder	ANG	ƒ
New Zealand Dollar	NZD	$
Nicaragua Cordoba	NIO	C$
Nigeria Naira	NGN	₦
Norway Krone	NOK	kr
Oman Rial	OMR	﷼
Pakistan Rupee	PKR	₨
Panama Balboa	PAB	B/.
Paraguay Guarani	PYG	Gs
Peru Sol	PEN	S/.
Philippines Peso	PHP	₱
Poland Zloty	PLN	zł
Qatar Riyal	QAR	﷼
Romania Leu	RON	lei
Russia Ruble	RUB	₽
Saint Helena Pound	SHP	£
Saudi Arabia Riyal	SAR	﷼
Serbia Dinar	RSD	Дин.
Seychelles Rupee	SCR	₨
Singapore Dollar	SGD	$
Solomon Islands Dollar	SBD	$
Somalia Shilling	SOS	S
South Korean Won	KRW	₩
South Africa Rand	ZAR	R
Sri Lanka Rupee	LKR	₨
Sweden Krona	SEK	kr
Switzerland Franc	CHF	CHF
Suriname Dollar	SRD	$
Syria Pound	SYP	£
Taiwan New Dollar	TWD	NT$
Thailand Baht	THB	฿
Trinidad and Tobago Dollar	TTD	TT$
Turkey Lira	TRY	₺
Tuvalu Dollar	TVD	$
Ukraine Hryvnia	UAH	₴
UAE Dirham	AED	د.إ
United Kingdom Pound	GBP	£
United States Dollar	USD	$
Uruguay Peso	UYU	$U
Uzbekistan Som	UZS	лв
Venezuela Bolívar	VEF	Bs
Vietnam Dong	VND	₫
Yemen Rial	YER	﷼
Zimbabwe Dollar	ZWD	Z$

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