Tuesday, March 31, 2009

euro is the official currency


The euro is the official currency of 16 out of 27 member states of the European Union (EU). The states, known collectively as the Eurozone are: Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain. The currency is also used in a further five European countries, with and without formal agreements and is consequently used daily by some 327 million Europeans.[2]
As of November 2008[update], with more than €751 billion in circulation,[3] the euro is the currency with the highest combined value of cash in circulation in the world, having surpassed the U.S. dollar.[4] Based on IMF estimates of 2008 GDP and purchasing power parity among the various currencies, the Eurozone is the second largest economy in the world.[5]
The name euro was officially adopted on 16 December 1995.[6] The euro was introduced to world financial markets as an accounting currency on 1 January 1999, replacing the former European Currency Unit (ECU) at a ratio of 1:1. Euro (€) coins and banknotes entered circulation on 1 January 2002.

Pound


APPROXIMATE CURRENT EXCHANGE RATES

APPROXIMATE CURRENT EXCHANGE RATES
£
1 pound =
1.43 dollars ↓
1.08 euros ↑
$
1 dollar =
0.70 pounds ↑
0.75 euros ↑

1 euro =
1.33 dollars ↓
0.93 pounds ↑
Please note that the United Kingdom still uses the GBP £ Pounds currency and not the euro, while some large companies in the UK accept the euro it is not generally accepted as payment.>>>CURRENCY CONVERTER
UK CurrencyPrior to February 15th 1971 the British currency system was known as pounds, shillings and pence. In the system used at that time 12 pennies was equal to one shilling and 20 shillings was equal to one pound. After February 15th 1971 the Uk moved to a new system called decimalisation and brought the currency into line with the metric systems used in Europe which are based on a logical system of 10 or factors of 10's. So with decimalisation came a system of pounds and pence doing away with shillings altogether. UK currency is known as BRITISH STERLING.Under this system 100 pence is equal to one pound making working with the UK currency far easier. The symbol used for pounds is: £ or is sometimes shown as GBP (Great Britain Pounds) and the symbol used for pence is: pSo two pound forty pence would be written: £2.40 or GBP 2.40Twenty pence would be written 20p.Currently the currency in use is as follows: coins: 1 pence, 2 pence, 5 pence, 10 pence, 50 pence, one pound, 2 pounds. The 1 and 2 pence piece are bronze, the 5, 10, 20 and 50 pence pieces are silver and the 1 and 2 pound coins are gold. All coins carry the Queens head on the front.
APPROXIMATE CURRENT EXCHANGE RATES
£
1 pound =
1.43 dollars ↓
1.08 euros ↑
$
1 dollar =
0.70 pounds ↑
0.75 euros ↑

1 euro =
1.33 dollars ↓
0.93 pounds ↑
Please note that the United Kingdom still uses the GBP £ Pounds currency and not the euro, while some large companies in the UK accept the euro it is not generally accepted as payment.>>>CURRENCY CONVERTER
UK CurrencyPrior to February 15th 1971 the British currency system was known as pounds, shillings and pence. In the system used at that time 12 pennies was equal to one shilling and 20 shillings was equal to one pound. After February 15th 1971 the Uk moved to a new system called decimalisation and brought the currency into line with the metric systems used in Europe which are based on a logical system of 10 or factors of 10's. So with decimalisation came a system of pounds and pence doing away with shillings altogether. UK currency is known as BRITISH STERLING.Under this system 100 pence is equal to one pound making working with the UK currency far easier. The symbol used for pounds is: £ or is sometimes shown as GBP (Great Britain Pounds) and the symbol used for pence is: pSo two pound forty pence would be written: £2.40 or GBP 2.40Twenty pence would be written 20p.Currently the currency in use is as follows: coins: 1 pence, 2 pence, 5 pence, 10 pence, 50 pence, one pound, 2 pounds. The 1 and 2 pence piece are bronze, the 5, 10, 20 and 50 pence pieces are silver and the 1 and 2 pound coins are gold. All coins carry the Queens head on the front.

Reserve Bank of India


The rupee (Hindi: रुपया) (code: INR) is the currency of India. The issuance of the currency is controlled by the Reserve Bank of India. The most commonly used symbols for the rupee are Rs, ₨ and रू. The ISO 4217 code for the Indian rupee is INR. On 5 March 2009 the Indian Government announced a contest to create a symbol for the Rupee.[1] The modern rupee is subdivided into 100 paise (singular paisa).
In most parts of India, the rupee is known as the rupee, rupaya (Hindi), roopayi in Telugu(రూపాయి) and Kannada(ರೂಪಾಯಿ), rubai in Tamil(ரூபாய்), roopa in Malayalam(രൂപ) or one of the other terms derived from the Sanskrit rupyakam [2] (Devanagari: रूप्यकं), raupya meaning silver; rupyakam meaning (coin) of silver. However, in West Bengal, Tripura, Orissa, and Assam, the Indian rupee is officially known by names derived from the Sanskrit Tanka. Thus, the rupee is called টাকা Taka in Bengali, টকা tôka in Assamese, and ଟଙ୍କା Tôngka in Oriya, with the symbol T, and is written as such on Indian banknotes.

currency of Pakistan


The rupee (sign: Rs; code: PKR) is the currency of Pakistan. The issuance of the currency is controlled by the State Bank of Pakistan, the central bank of the country. The most commonly used symbol for the rupee is Rs, used on receipts when purchasing goods and services. In Pakistan, the rupee is referred to as the "rupees", "rupaya" or "rupaye". As standard in Indian English, large values of rupees are counted in terms of thousands, lakh (100 thousand, in digits 1,00,000) and crore (10 million, in digits 1,00,00,000).

Saudi Arabia riyal

The riyal has been the currency of Saudi Arabia since the country came in to being and was the currency of Hejaz before Saudi Arabia was created. The Hejaz riyal was based on (though not equivalent to) the Ottoman 20 kuruş coin and was consequently divided into 20 ghirsh. However, although the Hejaz riyal was the same weight as the Ottoman 20 kuruş, it was minted in .917 fineness, compared to .830 fineness for the Ottoman coin. Thus, because the first Saudi riyal had the same specifications as the Hejaz riyal and circulated alongside Ottoman coins, it came to be worth 22 Ottoman kuruş and was consequently subdivided into 22 ghirsh when coins denominated in ghirsh were issued from 1925. This remained the system of currency even though the riyal was subsequently debased to a coin equivalent in silver content to the Indian rupee in 1935.

Kuwaiti dinar


The dinar was introduced in 1961 to replace the Gulf rupee. It was initially equivalent to one pound sterling. As the rupee was fixed at 1 shilling 6 pence, this resulted in a conversion rate of 13⅓ rupees to the dinar.
When Iraq invaded Kuwait in 1990, the Iraqi dinar replaced the Kuwaiti dinar as the currency and large quantities of banknotes were stolen by the invading forces. After liberation, the Kuwaiti dinar was restored as the country's currency and a new banknote series was introduced, allowing the previous notes, including those stolen, to be demonetized.