World Currency Questions and Answers

Answer: C

It is the Kuwaiti dinar.

The Kuwaiti dinar is the highest-valued currency unit in the world, worth over three US dollars, and is divided into 1,000 fils. It is pegged to a basket of currencies rather than to the dollar alone.

Answer: C

It is the euro.

Portugal was among the first eleven adopters in 1999, replacing the escudo, which had circulated since 1911 and takes its name from the shield on the coin.

Answer: B

It is the Uzbekistani som.

The som replaced the Soviet rouble in 1994. Som means pure in the Turkic languages, referring to pure gold, and the same word names the Kyrgyz currency.

Answer: B

It is the United States dollar.

The dollar is the world's principal reserve currency, held in about 58 per cent of official reserves, and is the currency in which most oil and commodity trade is priced.

Answer: D

It is the Minimum Reserve System.

Since 1957 the Reserve Bank must hold assets of at least Rs 200 crore, of which Rs 115 crore in gold, and may issue notes to any amount above that. It replaced the proportional reserve system, which had tied issue to a fixed fraction of reserves.

Answer: C

It is the Canadian dollar.

Canada replaced its pound with the dollar in 1858, aligning with the United States for trade. It withdrew the one-cent coin in 2012 because the metal cost more than the coin was worth.

Answer: B

It is the rupee.

The name comes from the Sanskrit rupya, wrought silver, and the coin was standardised by Sher Shah Suri in the sixteenth century. The rupee symbol adopted in 2010 combines the Devanagari ra with a Latin R and a double bar.

Answer: C

It is the euro.

Ireland was among the first eleven adopters in 1999, replacing the Irish pound or punt. Its euro coins all carry the same design, the Celtic harp, on the national side.

Answer: C

It is the Vietnamese dong.

The dong takes its name from the copper coins of the old currency. It is among the least valuable units in the world, so prices run into millions and a 500,000-dong note is the largest in circulation.

Answer: A

It is the Iranian rial.

Prices in Iran are generally quoted in tomans, a unit of ten rials that has no legal existence but is universally used in shops. Parliament approved a change of the official unit to the toman in 2020.