Posted by 5 Surprising Lesser Known Facts About Currencies
1) Pound sterling is world’s oldest currency still in use
UK’s official unit of currency is the Pound Sterling was introduced in the 18th century and is the world’s oldest currency that is still in use.
Sterling is the fourth most-traded currency in the foreign exchange market, after the United States dollar, the Euro, and the Japanese yen, besides also being the fifth most-held reserve currency in global reserves.
2) India’s highest currency denomination was Rs 10,000 note
The 2,000 rupee note is not the highest denomination of India’s currency. The highest denomination rupee note to ever be printed by the Reserve Bank of India, was the Rs 10,000 note in 1938.
This denomination of note had its own share of ups and downs. It was demonetised in the year 1946, then it was reintroduced in 1954 and then finally again demonetised in the year 1978.
Related link: MALAYSIAN RINGGIT BEGINS LOWER AGAINST US DOLLAR AHEAD OF GDP RELEASE
3) The first US coin had the motto “mind your business”
The first official one cent ‘Fugio’ coin, which was designed by the Founding Father, Benjamin Franklin in the year 1787, had ‘mind your business’ imprinted on it as an advice.
Some historians tend to believe that this motto was written intentionally by Benjamin, who himself was an influential and a successful businessman. As a reminder to the coin holder, it is believed that it meant to pay attention to your business.
4) More monopoly money is printed in the US than the real cash
Hasbro, the company that produces the popular monopoly game, prints out a massive $30 billion (£24bn) in Monopoly money every year, which is way higher than the rough figure of $974 million that the Bureau of Engraving and Printing produces annual for the Federal Reserve, which is USA’s central bank.
5) Queen Elizabeth II is the most featured person on coins and banknotes
The late Queen Elizabeth 2, who was the Queen of the United Kingdom and 15 other Commonwealth countries has been featured on more coins and banknotes than any other person. She has also been featured on the currencies of more than 30 countries.