In the dawn of human civilization, money firmly entered everyday life, simultaneously becoming both a goal and a means of achieving it. Despite their diverse appearances, their essence always remains the same: if you want to obtain goods, you must pay.
In ancient times, instead of the familiar banknotes used by modern people, shells, animal skins, pearls, and other items were used. However, conducting payments in this manner was not always convenient. Therefore, in Ancient China, paper and ink were adapted for conducting business transactions. It was simple: the seller handed over the goods to the buyer, meticulously recorded the amount owed, and awaited repayment. Merchants knew for sure that the trade obligation would be repaid, otherwise the debtor could lose their head.
Meanwhile, on the island of Yap in Micronesia, residents used stone money for transactions. Paper money as we know it today took shape later, after the invention of the printing press, in the 7th century (500 years earlier than in Europe).
But progress does not stand still; everything in the world changes, including money. According to scientists’ forecasts, paper bills will soon become obsolete and fade into the past. Already, people are increasingly opting out of them, giving preference to plastic cards or contactless payment systems. Perhaps our children and grandchildren will regard printed rubles as curiosities, but for now, the global financial system cannot completely abandon such currencies.
World Currencies
Both adults and children understand the value of paper bills. It is also well-known that each country has its own unique currency. However, not everyone is aware of the so-called standard to which the money of a particular country must adhere to gain value on the international market.
The modern currency standard includes about 250 different names of monetary units, among which there are even real currencies of virtual states, such as Sealand and the Principality of Seborga.
The Most Expensive Currency in the World
This “title” rightfully belongs to the Kuwaiti Dinar, which has been used as a means of payment since 1861. This is all thanks to natural resources: 50% of the GDP is provided by the extraction of “black gold” (oil). Additionally, the country also engages in pearl diving, which also contributes to strengthening the financial position of the Kuwaiti currency.
The Cheapest Currency in the World
For a long time, the title holder in this category was the Zimbabwean Dollar. Its devaluation led to a situation where one needed to pay nearly 50 billion for a bottle of beer. Hyperinflation led to banknotes of 100 trillion circulating in this African state. Therefore, in 2009, the local dollar was temporarily withdrawn from circulation. Zimbabweans returned to their currency after a 10-year hiatus. Such a pause helped somewhat strengthen the currency’s position, although it is still far from financial prosperity.
In addition to the Zimbabwean Dollar, other currencies that fall into the category of the cheapest include the Venezuelan Bolivar and the Iranian Rial.
The Most Stable Currency in the World
Of course, the first thought that comes to mind regarding universally accepted global money is the US Dollar and the Euro. However, specialists point to another currency—the Swiss Franc—as the most stable. The stability of local funds is ensured by banks. The constant influx of investments from depositors around the world is the factor that ensures the country’s economic stability and positive trade balance.
Here are some more facts about money:
1. The weight of 1 million US dollars, assuming they are printed in $100 bills, would be around 10 kilograms.
2. After World War I, German money became so cheap that it could be used to wallpaper walls. This would have been cheaper than buying a roll of wallpaper.
3. Pennies were not always the smallest denomination. During the time of Kievan Rus, there were so-called “half-kopecks” (1/8 of a kopeck) in circulation among the population.
4. The most expensive coins are ancient Greek decadrachms. They are mainly valued by collectors because they are rare. Finding such a coin during archaeological excavations is considered a stroke of luck.
5. Thirty times more Monopoly money is printed worldwide than real banknotes.
6. Money is dirtier than any other object people handle.
7. Small bills wear out three times faster because they are used more frequently. Their average lifespan does not exceed 5 years.