Who Decides Which Currency Each Country in the World Uses

Answer 1 of 29. Currencies are the legal tendermoney that can be used within a country.

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Modern coinage made its debut in 500 BC.

. The rate is set against another major world currency such as the US. The correct option is B each individual country It is generally each countrys decision about which currency shall be used in their country. Citation needed Spains political supremacy on the world stage the importance of Spanish commercial routes across.

For a handful of countries its pretty straightforward. Who decides which currency each country in the wolrd uses. Whether we pull out paper bills or swipe a credit card most of the transactions we engage in daily use currency.

These countries pick a commonly used currency usually the US. Currency is defined by The Oxford English Dictionary as a system of money in general use in a country. Some countries may decide to use a pegged.

Each individual country decides which. The united nations each individual country. Question and answer.

In fact the cowrie shell is one the longest and most widely used currency in history. But when it comes to exchange the domestic currency for foreign currency or a foreign currency for domestic currency the commodity rules of exchange is adopted. These shells have been used as money in many societies including some parts of Africa.

Dollar or the euro and peg their own currencys exchange rate to this currency. The United Nations each individual country the European Union the Uni. For example Belizes central bank decided its.

US Dollars is considered as the universal parameter of a currencys strength or weakness in. Currency is nothing but a commodity to be. In the 17th and 18th centuries the use of silver Spanish dollars or eight-real coins also known as pieces of eight extended from the Spanish territories in the Americas westwards to Asia and eastwards to EuropeThis then formed the first worldwide currency.

And was created from precious metals like silver bronze and gold which held the most value of the three. Indeed money is the lifeblood of economies around the world. Who decides which currency each country in the world uses.

But yes to an extent the currency rates are governed by the exchange rate of US dollars. In the United States the currency system is based on. Who decides which currency each country in the world uses.

The United Nations Each individual country The European Union The United States. Dollar euro or yen.

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