Currencies of the world

RoboForex Analytical DepartmentJune 27, 2023

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World currencies at : Swiss franc - CHF

The Swiss franc is one of the major currencies included in the so-called majors. Currency transactions in the CHF account for 3% of the total volume of transactions. This is not 42% of the US dollar, of course, but not bad at all. Traditionally, the Swiss franc acts as a safe haven currency for investors in case of any loss of interest in risk. The Swiss franc is regulated by the Swiss National Bank, or SNB for short. And for this bank is characterized by foreign exchange intervention to maintain the necessary rate of the national currency. The last serious intervention was made to weaken the franc against the European currency, which led to an increase in the currency pair EUR/CHF more than...

RoboForex Analytical DepartmentJune 25, 2023

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World currencies at : British Pound Sterling - GBP

The fourth place in the number of transactions on the foreign exchange market is occupied by the British pound sterling. It is also one of the so-called major currencies, or majors, most often used by traders to trade. The British pound is also often called the Cable in the traders' vocabulary. Approximately 6% of all transactions on the market involve the pound sterling. Currency pairs with the British pound are the most volatile on the market. It is easy to move this pair 200-300 points within one trading day. Most activity of currency pairs with GBP takes place during the European session, a little less - during the American one. Many pairs of British pound are flat at night in Europe, especially in the US.

RoboForex Analytical DepartmentJune 25, 2023

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World currencies at : Japanese Yen - JPY

The third most popular among traders is the Japanese yen (JPY) and currency pairs. At the moment, about 9% of all transactions takes place in the Japanese yen. For yen trading, it is important to know that it is characterized by regular financial and political interventions from the Bank of Japan to reduce the national currency rate. Since Japanese economy is quite strong, and the interest rate in the country is traditionally low, the interest of investors in the yen is born at any risk. Government agencies prefer to limit the national currency from excessive growth by supporting their export-oriented companies. So it is imperative to keep that in mind when trading for JPY appreciation. Important...

RoboForex Analytical DepartmentJune 22, 2023

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World currencies at : European currency euro - EUR

According to statistics, about 20% of all transactions in the foreign exchange market involve the euro. It is the second most popular currency among investors and private traders, as well as many states use it as a reserve currency. At the time of writing, the euro is under pressure due to the unfavorable economic situation in the euro area. Investment attractiveness of the EUR in this regard is quite low. The European Union consists of 17 countries that use the Euro, if not directly, as a rigid reference point for the exchange rates of their national currencies. The EU interest rate has varied in different years from rather high to as low as possible as a stimulus for the economy. The European currency first appeared...

RoboForex Analytical DepartmentJune 22, 2023

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World currencies at : U.S. Dollar - USD

During the daily observation of currency pair quotes almost every trader comes to the conclusion that there are some dependencies, correlations and peculiarities among the currencies. The main currencies that account for the most transactions in the market are: USD, EUR, JPY ,GBP, CHF. Let us have a look at the first one. U.S. dollar - USD Statistically, the most operations with the U.S. dollar. According to various estimates, such operations account for about 42% of total market transactions. To date, the dollar is a universal means of payment and a safe haven currency. Let us recall the global financial crisis of 2008. The EUR/USD fell from 1.60 to 1.23.

mr.traderMay 18, 2023

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Australian dollar (AUD)

The Australian dollar is the official currency of the Commonwealth of Australia, including Christmas Island, the Cocos Islands and Norfolk Island and the independent island nations of Kiribati, Nauru and Tuvalu in the Pacific Ocean. The international code of Australian dollar according to ISO 4217 is AUD. At home it is often called A$ and AU$ or simply "$". 1 Australian dollar is equal to 100 cents. History of the emergence of the Australian dollar Forex traders the Australian dollar seems to be a familiar currency, but it is a young monetary unit. The date of its introduction into circulation - February 14, 1966. Before that, the monetary system of Australia was duodecimal, and the national currency was called the Australian pound. An interesting...

mr.traderApril 29, 2023

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Norwegian krone (NOK)

The stability of the national economy is the key to the stability of the national currency. This principle is a characteristic of Norway. The first Norwegian kroner The first money in the modern territory of the Scandinavian State dates back to about the tenth century. It was from this period begin to circulate various coins, which were minted by a variety of mints, scattered throughout the country. In 1695 the first banknotes were issued and the right to print them was transferred from one private bank to another. In 1875, following Sweden and Denmark, Norway joined the Scandinavian Monetary Union. This meant replacing the spesidalers then in the country to a single currency for all parties to the agreement ...

mr.traderApril 25, 2023

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Indian rupee (INR)

The Indian rupee not only has a rich history, but for a long time it was the main currency in many Central Asian and African countries. Rupee means silver "Rupee" means "silver" in Sanskrit. The Indian silver coin, equal to 40 pieces of copper, was introduced in the 16th century by the country's ruler Sher Shah. The first Indian banknotes were already issued at the end of the 18th century. The British Crown, whose colony was India, tried to put the pound sterling in circulation in the country by force, but the attempts failed as in all British-controlled overseas territories. At that time the rupee was very widespread in the other colonies...

mr.traderApril 12, 2023

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Brazilian Real (BRL)

The currency of the world's fifth most populous and territorial country is, at first glance, very young: officially, the Brazilian real is not even two decades old. Digging deeper, however, we know that coins with this name have been circulating in Brazil since the 17th century. History of the Brazilian real With the discovery of Brazil by Portuguese colonists in 1500 and its further exploration in the country began extensive monetary relations. Currency relations were established both in kind and with foreign coins, one of which, the Spanish real, became the most widespread. In 1690 it became the official currency of Brazil. The period from 1942 to...

mr.traderApril 12, 2023

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Malaysian Ringgit (MYR)

Malaysia's national currency, Ringgit, could have remained another dollar, of which there are frankly many in the world. Since 1975, however, the monetary symbol of a Southeast Asian state was given its own name. Notched Ringgit "Ringgit" literally means "notched" in Malay. That was the name given by the locals to Spanish piastres circulating in the country between the 16th and 17th centuries, which had a serrated edge. In 1967, when Malay dollar was introduced, people still called it ringgit. That's why in 1975 the Government decided to officially adopt that name and the national version of cent - "Sen". The Malaysian ringgit survived 4 issues, the last of which took place in 2008....

mr.traderMarch 23, 2023

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South African rand - ZAR currency

In 1999, George Soros, who needed no introduction, declared that in the new century exotic currencies would take the lead. We are going to talk about one of them, the South African rand. The formation of the currency of South Africa - the ZAR After the British left South Africa and the recognition of the independence of the country by the United Kingdom, the former colony did not immediately renounce the British order. Thus, the first currency was the South African pound, which did not differ much in appearance from the better-known pound sterling. The radical change occurred a few years later, in 1961, when the South African rand was put into circulation in the country. The rand's exchange rate set against the dollar was soon...

mr.traderMarch 18, 2023

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Kazakh tenge (KZT)

Despite the fact that Kazakhstan was one of the last in the CIS to adopt its own currency, the republic nevertheless did not have temporary money like most post-Soviet countries. The same "money", but in the Kazakh way A group of designers to develop the appearance of the future national currency was assembled already in 1991, and it coped with its task in exactly one year. There was a critical question of name choice: both "aksha", and "altyn", and more convenient for the people "som", by which the Soviet rouble was called by the people, were suggested. However, as a result of heated debates, there was a new version, "tenge", which satisfied most of the opponents. Fortunately, this Turkic word meant just "money" (it is believed that...

mr.traderMarch 17, 2023

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Armenian Dram (AMD)

There was a paradoxical situation in Armenia in 2006-2009: imports exceeded exports nearly four times, thus generating a considerable deficit in the trade balance, but the local dram only gained against the dollar, having strengthened by an unprecedented 50% against the USD during the whole period. The crisis of the Armenian dram "Dutch disease", which affected the Transcaucasian republic, was blatantly different from its generally accepted forms. The point is that in this case, the increase in the value of the national currency was not due to the export of raw materials, which Armenia lacks. The authorities of the country explain the rise of the dram with growth of private transfers from abroad, while opposition analysts point to an artificial overvaluation caused by limitation of money supply in...

mr.traderFebruary 26, 2023

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Mexican peso (MXN)

The most popular currency in Latin America, the Mexican peso, along with the Israeli shekel, became freely convertible in 2008. History of the Mexican peso The history of the peso is associated with the emergence of Spanish colonizers in the Aztec country. The so-called Spanish dollar, also known as the real, was minted specifically for Mexico, which became part of the Spanish Empire. The peso began as the largest silver coin, equal to eight reals. Under that monetary system, the basic unit of currency was the escudo, which contained 16 reals. It is interesting to note that the first peso had the modern symbol of the American dollar, i.e. $. Some historians consider the reason for this to be the accepted abbreviation of the peso at that time as ps, y...

mr.traderFebruary 26, 2023

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Azerbaijani manat (AZN)

The modern name of the Azerbaijani currency, manat, has been used in the country itself for almost a century, being an unofficial variant for the Soviet ruble among the people. Formation of the Azerbaijani manat After Azerbaijan received its independence, the local authorities decided not to re-invent the wheel, and leave the former name of the money in force. Put into circulation officially in 1992, the manat quickly pointed to the economic difficulties in the country, which was not able to transition to a market economy, as in most post-Soviet state formations. Hyperinflation, which swept over Azerbaijan, continued for about a decade, there was only a difference in the depreciation of the national currency. This situation in the country naturally caused mistrust in the manat of the citizens, who kept most of their deposits in foreign currency. Dollarization...

mr.traderFebruary 22, 2023

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South Korean Won (KRW)

The name of the South Korean won, the currency of the Republic of Korea, is a consonant and consonant word for the Chinese yuan and the Japanese yen. Won, like the other two neighboring currencies, means "round shape," a concept that characterized coinage in ancient times. History of the Korean Won The history of the Korean Won has really thousands of years of roots. The first iron coins began to be issued during the royal dynasties in the 10th century. The won was officially introduced in 1902. Before that, the peninsula had such currencies as the mun and the yang in circulation. After the division of Korea into the North and South, both countries retained the won as their national currency. Between 1945 and 1951...

mr.traderFebruary 9, 2023

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Georgian lari (GEL)

Almost 16 years ago a new national currency, the lari, was put into circulation in Georgia. During this adolescence it has proved to be quite a stable monetary unit, which is alien to sharp fluctuations in the exchange rate. The real treasure of Georgia - lari lari means "treasure", "property" in ancient Georgian. This particular variant was chosen for the name of the future currency of the Caucasus state, getting preference over such alternatives as "manat", "marchi" and "tetri". The idea itself of creating its own currency was raised in Georgia in 1989, when the state was still part of the Soviet Union at the time. In the same period the concept of independent Georgia was created...

mr.traderFebruary 6, 2023

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Singapore dollar (SGD)

Despite the seeming exoticism, the Singapore currency is worthy of the name "dollar", not inferior to its overseas namesakes. Currently, many analysts point to the prospects of the Singaporean currency, the strengthening of which is fully supported by the policy of the Ministry of Finance of the city-state. History of the currency of Singapore Own currency Singapore began to issue on April 7, 1967, after the country's independence. Initially, the new currency was pegged to the British pound at a ratio of 60:7, but after sterling ended, the Singapore dollar was fixed to its older, American brother for a time. Beginning in the 1970s, the city-state began an economic miracle supported by the emergence of lucrative trade relations. The exchange rate of the national currency now became...

mr.traderJanuary 26, 2023

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Israeli shekel

One of the oldest currencies in the world, the Israeli shekel has nevertheless been formally in existence for just over thirty years. From pound to shekel The word "shekel" comes from the Hebrew "to weigh". This is because in the beginning the shekel, like many other currencies at their inception, was a measure of the weight of gold and silver. The first evidence of it dates back to the second millennium BC. It is also known about the mention of the shekel in the Bible. Originally the Jewish money mark was minted and used in Phoenicia, Persia and Egypt. For a short time the shekel became Israel's currency again, during the revolt in Judea, which was part of the Roman Empire, but after...

mr.traderJanuary 10, 2023

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Pound Sterlling - History and Facts

The pound sterling is the official monetary unit of Great Britain, its dependencies and external territories:British Atlantic and Indian Oceans, as well as South Georgia and South Sandwich Islands. The symbol of the pound sterling is Libra, a sign ? which previously had two crossed lines. The bank code for the pound sterling is GBP (Great Britain Pounds), as all currency traders know it, sometimes it is mistakenly replaced by UKP (United Kingdom Pound). The numerical code is 4217. At present 1 pound sterling equals 100 pence. Bills of 5, 10, 20 and 50 pounds and coins of 1, 2, 5, 10, 20, 50 pence and 1 and 2 pounds are in circulation. Occasionally there are...