World Currency Questions and Answers

Answer: D

It is the Moroccan dirham.

The dirham takes its name from the Greek drachma by way of Arabic. It replaced the Moroccan franc in 1960 and is divided into 100 centimes.

Answer: A

It was 4 paise.

The old rupee held 16 annas, and each anna held 4 pice - so 64 pice to the rupee. When the rupee was decimalised in 1957 into 100 paise, one anna became worth 6.25 new paise.

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.