How Many Official National Currencies Are There In the World?

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How Many Official National Currencies Are There In the World?

How Many Official National Currencies Are There In the World?

 

Currency is the general name of the money. Each country has its own currency such as United States Dollar, Euro, Turkish Lira or Yen. There are 197 countries in the world but some of them not use their national currency. Instead, they use the currency of other countries. In case you wonder the amount of the official national currencies then you can find the answer to it in this article. But as always, we are going to provide you some detailed information about the currencies, i.e. money. Let’s stop wasting more time and begin our article.

 

Money is the biggest problem of the modern people. Today, everything even our happiness depends on the money. Did you know that the first paper money invented in China? China government was the first nation to use paper money. The first paper money began to be used in 1661 in Europe. Guess which nation began to use it first? Of course, Sweden. However, China was already using these paper about 700 years ago! Inca civilization managed to build a great empire without using any money. Although they were living in the world more than thousands of years ago, it is a fact that they are still more civilized than us.

 

Trading was very popular during the medieval ages and did you know that traders used to use some kind of credit card in those times? Many people in those ages were not able to read and write and this fact lets the traders face some challenges. Even the traders himself used to make mistakes on the calculations. They found the solution on a long stick. They clean the stick and then notch it in line with the amount of the debt. Then they used to break it. Half of it was given to the buyer while the other half of it was given to the trader. When the buyer pays his debt, they used to erase that amount of notch.

 

Do you know that there is a paper money which is equal to hundred trillion? The inflation was 471 million in Zimbabwe in 2008. You have to pay 300 billion Zimbabwe Dollars to buy one bread in those times. When the government is unable to find a solution they had to print this money. Colombian drug baron Pablo Escobar lost one million dollars once. The interesting thing is that mice have eaten his money! He did not even feel anything about this because he used to earn more than 500 million dollars in a year in those time. But it was a good lesson for him to not keep his money in his warehouse.

 

Now let’s talk about the amount of the official national currencies. As we mentioned before, there are 197 countries in the world, however, there are also only 164 official currencies. This is because some of the countries do not have their own currencies and use the currencies of other countries. They may soon create their own currencies, however, for now, the exact number is 164.



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