Europe Countries | List Of Currencies And Their Place In The Forex Market

The European Currencies List:

Currencies are used as legal tender.  This is a far cry from how it was years back when human beings resorted to barter system for transactions. Currencies can be in the form of paper notes as well as coins.  Government approve a certain form as the country’s currency and prints or mints it.  To avoid counterfeit a lot of security features are added in.  When we are involved in trade, there needs to be a legal tender for which currency is used.  For localized trades, the country’s currency would be used.  However, for global transactions, the currency unit used could be the most popular. The central government of the country has the right by the government to issue money for circulation.  Although there will be a main unit of currency, there would also be a fractional unit of currency. The currency forms an important part of the economy.

There are around 31 different currencies in circulation in Europe. However, for Europe the Euro has been seen as clearly dominating the currency scenario.  The Euro, Swiss franc, and Pound sterling form the widely used payment method for international trade there.  Not surprisingly they are included in the top 10 in the forex most traded currencies.

Some of the other currencies that we come across in the Europe are the Albanian elk, Azerbaijani manat, Belarusian ruble, Croatian kuna, Czech koruna, Danish krone, etc.  Some interesting facts about Euro are – it went into circulation in 2002 from January 1. By July 1 of the same year, the local currency was completely replaced by the Euro.  Some other interesting facts about currencies are – the physical money is just 8%, the rest are in figures and computers and not in hard cash.  Sometimes currencies are forged by enemy nations to destabilize the economy of the nation which happened during the World War II by the Nazis against the British.



european currency list europe currency name euro currency countries list 
Location: India

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