The main currencies of the world include seven currencies of the world's leading powers. All of them entered this group due to their liquidity and influence in the financial world. It is in these currencies that most international contracts are concluded.
Instructions
Step 1
U. S. dollar. The United States dollar became the single American currency in 1861, but its birthday is July 6, 1785, when it was officially registered with the Continental Congress. Today, the dollar is one of the major currencies in the world. More than half of the world's gold reserves are stored in US dollars, and the trend has not changed for more than ten years. Confidence in the dollar began to gradually decline, starting in 2008, when the United States economy began to undergo one crisis after another, and the exchange rate of the national currency began to rise in relation to the monetary units of other countries. Nevertheless, the dollar is still the universal international currency, and most transactions in international business are carried out with its participation. In the central banks of other countries, the dollar occupies about 60% of reserves, which is more than a trillion dollars.
Step 2
Euro. The Euro is the official currency of the European Union and the national currency of the 16 countries that make up the Eurozone. In 1995, the EU adopted the official name of the currency, but only in 1999 the euro took the position of the national currency of eleven countries in the field of electronic transfers. Euro banknotes appeared only in 2002. Since then, the currency began to rapidly gain momentum in the international financial community, and today it is one of the three major currencies in the world. Despite the strong support of European countries, the euro is subject to the negative impact of the economic crises of some countries that make up the Eurozone. Despite such problems, the euro still retains the status of a strong reserve currency, which is developing dynamically and occupies key positions in the international financial market.
Step 3
Japanese yen. The Japanese yen ranks third among the most important reserve currencies. For many decades, this currency has been the most stable monetary unit, the rate of which has very little fluctuations. The yen has been produced since 1910, but it received international status only in 1953. Today, although the yen is inferior to the euro and the dollar in the reserve ratio of the central banks, it is still one of the most popular currencies for international settlements.
Step 4
GBP. This currency is the national currency of England and ranks fourth in the world in terms of sales and exchange. For the first time, the currency was issued in 1694, and in the 18th - 19th centuries the pound sterling occupied the leading position among the reserve currencies of the world, but in 2006 it was already in third place. Today the pound sterling participates in 50% of transactions in the English market and 14% in the world. The exchange rate is influenced by oil prices, inflation in the UK, as well as data on the labor market in the country.
Step 5
Swiss frank. The Swiss franc is the official currency of Switzerland and Liechtenstein. The year of birth of this monetary unit is 1850, and since then the Swiss franc has been one of the most stable currencies, having undergone only one devaluation in the entire history of development. Today the Swiss franc is the main currency of the offshore zone, inflation is 0%, and the gold and foreign exchange reserve is stable at about 40%. With the introduction of the euro, the share of foreign exchange reserves in Swiss francs has decreased significantly, and today it is only about 0.3%.
Step 6
The Canadian dollar is the official currency of Canada, introduced in 1858. Today, this currency ranks seventh among the major currencies in the world. The Canadian dollar is actively traded in the foreign exchange market. The Canadian dollar exchange rate fluctuates depending on the US dollar exchange rate, as well as on the Japanese yen, euro and Chinese yuan.
Step 7
Australian dollar. The idea of issuing Australia's single currency, the Australian dollar, was born back in 1960, and the first plastic currency was issued in 1988. Today the Australian dollar is one of the world's leading currencies and accounts for about 5% of foreign exchange transactions.
