Types of Foreign Currency

Understanding the varied types of foreign currencies and exchange rates is a daunting but needed skill in our global world. This knowledge affects decisions ranging from choosing travel destinations to short- and long-term financial investments.

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Most Commonly Used Currencies:
- Over 150 types of currencies exist in the world. The most common are :
  •E.U.: Euro-EUR
  •U.S.: Dollar-USD
  •U.K.: Pound-GBP
  •Switzerland: Swiss Franc-CHF
  •Japan: Yen-JYP
Other Known Currencies:
- Other widely known currencies are:
  •Mexico: Peso- MXN
  •Sweden: Krona- SEK
  •India: Rupee-INR
  •Russia: Ruble-RUB
Countries which use the Euro:
- The following countries use the Euro as their form of currency:
  •Andorra
  •Austria
  •Belgium
  •Cyprus
  •Finland
  •France
  •Germany
  •Greece
  •Ireland
  •Italy
  •Kosovo
  •Luxembourg
  •Malta
  •Monaco
  •Montenegro
  •Netherlands
  •Portugal
  •San Marino
  •Slovakia
  •Slovenia
  •Spain
  •Vatican City
Countries That Use the U.S. Dollar:
- The USD is the most widely used currency in most international transactions. In addition to the U.S. and its regions--Puerto Rico, Northern Mariana Islands, U.S. Virgin Islands, American Samoa and Guam--some other countries use the U.S. Dollar as its official currency.
  
  They are:
  •East Timor
  •British Indian Ocean
  •British Virgin Islands
  •Ecuador
  •El Salvador
  •Marshall Islands
  •Federated States of Micronesia
  •Palau
  •Panama
  •Turks and Caicos Islands
Sources on Foreign Currencies
- Popular travels sites contain information regarding the specific currency used and the exchange conversions for most countries and geographies. For up-to-the-minute investment and trading decisions, consult on-line sources for exchange rates, and major global brokerage firms and banks. Be prepared to be awed by the diversity of the information contained on foreign currency. They often are a mirror to the cultural identities of the specific countries.

Foreign Exchange

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Types of Foreign Currency

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Most Commonly Used Currencies:

Other Known Currencies:

Countries which use the Euro:

Countries That Use the U.S. Dollar:

Sources on Foreign Currencies

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