Every single day we find many reports and news about currency variations around the world. Of course, you can imagine that the most talked about is the dollar, the main currency in the world. Well, we cannot dispute this fact, but there are other main currencies in the world.
Furthermore, thousands of people currently earn from these variations in foreign currencies, in forex and trading. There are many financial platforms where people can make contributions and identify currency combinations.
With this, we can see that knowing the main foreign currencies around the world is quite essential. In this sense, we thought of lists of the 8 main currencies and some additional information. See the complete list below:
1. US Dollar (USA)
Firstly, it would be no different to start with the world’s main foreign currency. The dollar moves the entire world, with many influences on other currencies. The stock market is where we see the greatest impact of this importance, dictating whether the market goes up or down.
Furthermore, another interesting point is that the dollar has the largest Foreign Exchange Reserve in the world. In this case, we can say, based on this information, that it is the most accepted currency on almost the entire planet. Furthermore, many countries use the dollar to balance their import and export balances.
2. Euro (EU)
Secondly, we can say that the Euro is the second most important foreign currency in the world. Currently, 39% of its quota is used in daily transactions around the world. This fact alone already demonstrates the size of its power and impact.
Furthermore, it is the most used currency in Europe, being official in 19 countries on the European continent and the European Union. Finally, it is important to highlight that this currency could become digitized in a few short years. The basic idea is to make transactions even easier.
3. Pound Sterling (GB)
If you’ve always wondered what the oldest currency in the world is used today, you just found it. The Pound Sterling is this currency, which was born in 1489, with King Henry VII. Currently, it remains the official currency of the United Kingdom.
Its transaction volume is not as high as the dollar or the euro, but it has high share values, highly valued compared to them. See a comparison:
- 1 pound sterling = 6.22 reais
- 1 pound sterling = 1.25 US dollars
4. Yen (Japan)
Furthermore, the fourth foreign currency is the Japanese currency, being highly important as it is the third most traded currency in the world. Its fame is high when it comes to reserve currency, especially after the dollar, the euro and the British pound.
See some comparisons:
- 1 iene = 0.0038 reais
- 1 iene = 0.0077 US dollars
5. Australian Dollar (Australia)
Firstly, this currency is quite interesting, currently being the eighth most used foreign currency in world trade. The Australian dollar is the official currency of the Commonwealth of Australia, including several territories. Among them, we can highlight Christmas Island, Cocos Islands, Heard Island and McDonald Islands and Norfolk Island, among others.
6. Canadian Dollar (Canada)
If you have ever thought about going to Canada to do an exchange, study, or even work and stay for a while, this will be the currency used. Many people believe that the dollar used in Canada is the same as in the USA, but it is not.
The good news is that the Canadian dollar is less valued than the American dollar, meaning if you think about going to Canada, you will have more money to use. See some comparisons:
- 1 Canadian dollar = 3.88 reais
- 1 Canadian dollar = 0.78 dollars
7. Swiss Franc (Switzerland)
Furthermore, this currency is one of the 10 main foreign currencies in the world, being mainly used in Switzerland. This fact is due to the high transactions of an economy that is very strong due to trade and technology.
See some comparisons:
- 1 Swiss franc = 5.09 reais
- 1 Swiss franc = 1.02 US dollars
8. Argentine Peso (Argentina)
Finally, we have a super interesting currency to comment on, the Argentine peso. In recent years, the currency has suffered an absurd impact, due to the lack of price control and low demand for oil. As a result, the economy plummeted by 80%, having to issue more paper to control inflation.
Furthermore, currently, inflation in Argentina has reached 100% and its currency is completely devalued.
See some comparisons:
- 1 Argentine peso = 0.043 reais
- 1 Argentine peso = 0.0086 dollars
And the Brazilian currency? The real?
Certainly, the Brazilian currency is important for the world, however, it ended up going through turbulent times in the last decade. This factor occurred due to many corruption scandals and incorrect economic measures that had a strong impact on the economy. Debt is still high, but inflation has reduced significantly.
Finally, did you like our post? Check out News Folha because we bring you all types of content so you don’t miss anything.
See more: 11 tips to get your first job
