How Many Currencies Are There in the World?

Currency or money is the most important asset which is used by everyone to acquire resources. Whether it is a house, food, or any other commodity currency is used to get it.

Everyone is working to accumulate more and more money and increase their living standard, Also The entire country’s economy is dependent on the currency and its value.  

There are 192 United Nations-recognized countries in the world with 180 Currencies which are in circulation.

All of them have their currency issued by their central bank and based on the fiscal and monetary policies of the bank are released to the market.

This article is all about educating you about currency, how many currencies are there in the world, types of currency, and much more.

But first, let’s understand what is a Currency?

What is a Currency?

A Currency is a bank paper note of promise that is issued by the central bank to facilitate trade and commerce among people.

The holder of the currency note becomes eligible to acquire anything equivalent to the value of the currency note.

Earlier in the absence of the banknote, a barter system was used for the exchange of the resource but, the problem with this system was the value of the products in exchange.

Product A does not necessarily have the same value as product B hence, a third party was used i.e. Currency as a mediation between the exchange of the commodities.

Earlier currency was backed by gold or other metal which is used to create the coin itself but, today due to the lack of valuable metal, fiat currency is used which is backed by nothing but the trust of the country.

Since trust is a subjective matter, there are various credit rating agencies and economic system which is utilized to finalize the trust of the currency.

Some indicators like inflation, GDP, Foreign Exchange reserves, Import-Export, etc. are some of the macroeconomic factors that affect the value of the currency.

Types of Currency

There are three types of currency which are in use, which are as follows:

Digital Currency

Digital currency is a new-age currency that many countries are currently operating in a pilot phase. This type of currency uses digital means to transact between two parties.

It uses the latest technology like Blockchain which is a non-central blockchain-based technology based on an algorithm that helps the exchange of the currency.

Various countries are currently operating digital currency as a pilot project, which is as follows:

• India
• Bahamas
• Nigeria
• China
• USA
• Jamaica
• UAE
• Ghana
• Malaysia
• Singapore
• Thailand

Bank Notes

Bank Notes are the notes that are issued by the central bank of a country and are considered paper money. The central bank prints the money and creates fiscal and monetary policies around it to manipulate the value of the currency. Almost every country in the world uses a banknote for trading and exchanging commodities.

Cryptocurrency

Cryptocurrency is a form of digital currency without having any centralized authorizer meaning no one is controlling the Cryptocurrency. The currency value is purely based on the market rate and the value attached by the market for trading.

There are some countries where you can use Cryptocurrency, also some private individuals might accept Cryptocurrency as a payment. The use of Cryptocurrency is still unclear in some countries like India, Iran, UAE, etc.

List of All Currency in the World in Circulation

The following is the list of all currencies in the world that are in circulation:

Country and Currency	Currency Code	Symbol
Albania Lek	ALL	Lek
Afghanistan Afghani	AFN	؋
Argentina Peso	ARS	$
Aruba Guilder	AWG	ƒ
Australia Dollar	AUD	$
Azerbaijan Manat	AZN	₼
Bahamas Dollar	BSD	$
Barbados Dollar	BBD	$
Belarus Ruble	BYN	Br
Belize Dollar	BZD	BZ$
Bermuda Dollar	BMD	$
Bolivia Bolíviano	BOB	$b
Bosnia and Herzegovina Convertible Mark	BAM	KM
Botswana Pula	BWP	P
Bulgaria Lev	BGN	лв
Brazil Real	BRL	R$
Brunei Darussalam Dollar	BND	$
Cambodia Riel	KHR	៛
Canada Dollar	CAD	$
Cayman Islands Dollar	KYD	$
Chile Peso	CLP	$
China Yuan Renminbi	CNY	¥
Colombia Peso	COP	$
Costa Rica Colon	CRC	₡
Croatia Kuna	HRK	kn
Cuba Peso	CUP	₱
Czech Republic Koruna	CZK	Kč
Denmark Krone	DKK	kr
Dominican Republic Peso	DOP	RD$
East Caribbean Dollar	XCD	$
Egypt Pound	EGP	£
El Salvador Colon	SVC	$
Euro Member Countries	EUR	€
Falkland Islands (Malvinas) Pound	FKP	£
Fiji Dollar	FJD	$
Ghana Cedi	GHS	¢
Gibraltar Pound	GIP	£
Guatemala Quetzal	GTQ	Q
Guernsey Pound	GGP	£
Guyana Dollar	GYD	$
Honduras Lempira	HNL	L
Hong Kong Dollar	HKD	$
Hungary Forint	HUF	Ft
Iceland Krona	ISK	kr
India Rupee	INR	₹
Indonesia Rupiah	IDR	Rp
Iran Rial	IRR	﷼
Isle of Man Pound	IMP	£
Israel Shekel	ILS	₪
Jamaica Dollar	JMD	J$
Japan Yen	JPY	¥
Jersey Pound	JEP	£
Kazakhstan Tenge	KZT	лв
Korea (North) Won	KPW	₩
Korea (South) Won	KRW	₩
Kyrgyzstan Som	KGS	лв
Laos Kip	LAK	₭
Lebanon Pound	LBP	£
Liberia Dollar	LRD	$
Macedonia Denar	MKD	ден
Malaysia Ringgit	MYR	RM
Mauritius Rupee	MUR	₨
Mexico Peso	MXN	$
Mongolia Tughrik	MNT	₮
Morocco Dirham	MAD	د.إ
Mozambique Metical	MZN	MT
Namibia Dollar	NAD	$
Nepal Rupee	NPR	₨
Netherlands Antilles Guilder	ANG	ƒ
New Zealand Dollar	NZD	$
Nicaragua Cordoba	NIO	C$
Nigeria Naira	NGN	₦
Norway Krone	NOK	kr
Oman Rial	OMR	﷼
Pakistan Rupee	PKR	₨
Panama Balboa	PAB	B/.
Paraguay Guarani	PYG	Gs
Peru Sol	PEN	S/.
Philippines Peso	PHP	₱
Poland Zloty	PLN	zł
Qatar Riyal	QAR	﷼
Romania Leu	RON	lei
Russia Ruble	RUB	₽
Saint Helena Pound	SHP	£
Saudi Arabia Riyal	SAR	﷼
Serbia Dinar	RSD	Дин.
Seychelles Rupee	SCR	₨
Singapore Dollar	SGD	$
Solomon Islands Dollar	SBD	$
Somalia Shilling	SOS	S
South Korean Won	KRW	₩
South Africa Rand	ZAR	R
Sri Lanka Rupee	LKR	₨
Sweden Krona	SEK	kr
Switzerland Franc	CHF	CHF
Suriname Dollar	SRD	$
Syria Pound	SYP	£
Taiwan New Dollar	TWD	NT$
Thailand Baht	THB	฿
Trinidad and Tobago Dollar	TTD	TT$
Turkey Lira	TRY	₺
Tuvalu Dollar	TVD	$
Ukraine Hryvnia	UAH	₴
UAE Dirham	AED	د.إ
United Kingdom Pound	GBP	£
United States Dollar	USD	$
Uruguay Peso	UYU	$U
Uzbekistan Som	UZS	лв
Venezuela Bolívar	VEF	Bs
Vietnam Dong	VND	₫
Yemen Rial	YER	﷼
Zimbabwe Dollar	ZWD	Z$

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