Currencies of the world

Currencies of the world

It is estimated that there are 193 countries recognized by the UN (they are part of its General Assembly), and yet there are not so many different currencies of the world. The UN estimates 180 world currencies in total.

There are several explanations for this paradox:

• Due to the fact that many countries have decided to use the same currency, for example, countries like Portugal, where we use the euro (Eurozone countries). The euro (€) is the official currency of 20 of the 27 EU member countries: Germany, Austria, Belgium, Croatia, Cyprus, Slovakia, Slovenia, Spain, Estonia, Finland, France, Greece, Holland, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta and Portugal.

• Due to other countries with developing and less stable economies, decided to “reference” their national currency to the US dollar. This is known as the “dollarization” of their economies. And although in the short term, it required discipline and price rises (rounding up), it has brought economic stability and allowed citizens to obtain stable purchasing power for their work and savings. For example, the US dollar is used in addition to the United States, Ecuador or El Salvador, Zimbabwe and other minor island countries.

Here you may see the currencies of the world sorted by name (left column) and by country in which they are used (right column).