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How The Major Currencies Of The World Got Their Name

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Money speaks a lot, and we sure agree upon it, don’t we? Have you ever thought why are we paying those bucks in exchange of anything we buy? And what’s the core purpose and importance behind those pieces of paper which have become everyone’s peace of mind, I am sure none does think that as the obvious fact, that why should we? We struggle to conquer the world the most – many through money for sure, but little do we know the actual history and origin about the currencies we are using around the world in our daily lives. Throughout the world, if we start examining and calculating we’ll have number of currencies being used by different countries and nations, which have gone through a whole lot of a revolutionary process to reach here. Pound was not pound when it came to origin, and dollar was not dollar as we have them now. They don’t seem important in terms of development and origination but they surely are our centre of attraction. Let’s look at how the major currencies of the world got their name and how were they actually used – first.

 

 

£ UK Pound Sterling

pound

Pound sterling is known as the oldest currencies of the world, it has a history of 1000 years old which makes it an interesting piece of discovery as how the major currencies of the world got their name. It’s impossible to find out its core origin and go back to the time when money didn’t mean a lot, but the nearby focus can be on its proximate estimate. Sterling word was derived as an old English text known as ‘’sterroa’’ which meant [as the time says] ‘’star’’. The British added the suffix –ling to it, to get some sense in the word to be called as ‘’little star’’ which was at that time a kind of slang used for silver penny. Whereas, the word ‘’pound’’ is derived from Latin word poundus which means weight. Some of the countries that use Pound as a currency include UK, Syria, Egypt, Sudan and Lebanon.

 

 

$ USA – Dollar

dollar

Hopping back to a bit of a history as when and how the major currencies of the world got their name, Dollar is the most commonly rotated currency of the world, according to an old research Joachimthal was an old Low German word which was referred to Joachim Valley, the place for mining silver, coins which were mined there were called as Joachimthal, later, this was shortened to Thaler and further on the word was spoken as ‘’dollar’’. Moreover, the word went through major transformations and pronunciations such as Norwegian dalar, or Dutch dalar. Furthermore, it was applied to the other coins as Dutch Leeuwendaler [lion dollar]

 

 

Euro of Europe

euro

A quirky straightforward statement to accept in this term is that Euro is derived as an obvious short form of Europe; it replaced the European Currency Unit in the year 1999. However, the debate is now from where did we get the word ‘’Europe’’? Europe came forward as a result of Greek Mythology called ‘’Europa’’, Europe was based in Eurys which meant wide face. The Greeks referred it as the name of the area they use to live in as Europa, and this can be dated back to 522 BCE. As the time passed by, it spread over the entire continent. Today, Euro is a widely used currency, countries where Euro is used as a currency include bigger names as Spain, Finland, Germany, Italy, Greece, Latvia, Belgium, Austria, Slovenia and many more.

 

 

Rupee – Rs.

rupee

Rupee is widely used in many big countries including Pakistan and India, even across Oceania and Indian Subcontinent. The word rupee is actually derived from a Sanskrit word ‘’rupya’’ which precisely means stamped. Since 1500s, the time when silver coins were called as rupee gold were known as mohurs and copper were called dams. Apart from Pakistan and India, Rupee is also used in Indonesia as Indonesian Rupiah. Also, Rupee is used as a currency in Afghanistan, Burma, Maldives, Seychelles and Mauritius, the pronunciation and cost may differ in different country.

 

 

¥ Yen – Japan

yen

Yen is derived from a Japanese word meaning round; it was introduced in 1871 and is linguistically related to the South Korean and Chinese Yuan. When Mexican and Spanish dollars reached the area where silver was majorly and massively trade, they were then known as silver rounds due to their shape. As we look into the fact as how the major currencies of the world got their name, Yen has an interesting history. The visitors of Japan who were English speaking transcribed the word en as Yen and it was further named en or Yen as per everyone’s ease. Yen is known as the 3rd most traded currency of the world after Euro and Dollar.

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