Only one country in the world calls its currency yen. Which country is it?



The yen is the official currency of Japan. It is the third most traded currency in the foreign exchange market after the United States dollar and the Euro. It is also widely used as a third reserve currency after the U.S. dollar and the Euro.



The spelling and pronunciation "yen" is standard in English because when Japan was first encountered by Europeans around the 16th century, Japanese /e/ (?) and /we/ (?) both had been pronounced and Portuguese missionaries had spelled them "ye". By the middle of the 18th century, /e/ and /we/ came to be pronounced [e] as in modern Japanese, although some regions retain the [je] pronunciation. Walter Henry Medhurst, who had neither been to Japan nor met any Japanese people, having consulted mainly a Japanese-Dutch dictionary, spelled some "e"s as "ye" in his An English and Japanese, and Japanese and English Vocabulary (1830). In the early Meiji era, James Curtis Hepburn, following Medhurst, spelled all "e"s as "ye" in his A Japanese and English dictionary (1867); in Japanese, e and i are slightly palatalized, somewhat as in Russian. That was the first full-scale Japanese-English/English-Japanese dictionary, which had a strong influence on Westerners in Japan and probably prompted the spelling "yen". Hepburn revised most "ye"s to "e" in the 3rd edition (1886) to mirror the contemporary pronunciation, except "yen". This was probably already fixed and has remained so ever since.



 



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Both North Korea and South Korea have the same name for their currency. What is it?



The Korean won has been used in some form for thousands of years. During the occupation of Korea by Japan, which spanned from 1910 to 1945, the won was briefly replaced with a Japanese colonial currency called the Korean yen.1



After World War II, however, the division of North Korea and South Korea resulted in two separate currencies, each called the Korean won. Initially pegged to the USD at a rate of 15 won to 1 dollar, a number of devaluations occurred thereafter due largely to the effects of the Korean War on the nation's economy.



In 1950, the Bank of Korea began operations as South Korea's new central bank. It assumed the duties of the previous monetary authority, the Bank of Joseon, with exclusive authority to issue banknotes and coins for the country.? Today, the Bank of Korea issues banknotes in denominations ranging from 1,000 to 50,000 won. The notes feature early Yi, or Chos?n, dynasty figures, including writers Yi Hwang, featured on the 1,000-won note; Yi I, featured on the 5,000-won note; and King Sejong, who appears on the 10,000-won note.



In the 1980s, South Korea sought to expand the relevance of its currency to international trade by replacing its dollar peg with a basket of currencies. Further changes were made in the late 1990s, when the government responded to the Asian Financial Crisis by allowing the won to float freely on foreign exchange markets.



 



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Dirham is currency of which two countries?



Morocco is only one of the two countries to call its currency dirham. The UAE Dirham was established in 1971 as an official national currency and is used only in the United Arab Emirates. 1 Dirham is divided into 100 Fils.



The UAE Dirham is tied to the US Dollar with a fixed exchange rate. Therefore, 1 Dirham always equals to 0.2723 US Dollar.



The word "dirham" ultimately comes from drachma the Greek coin. The Greek-speaking Byzantine Empire controlled the Levant and traded with Arabia. It was this currency which was initially adopted as a Persian word (Middle Persian drahm or dram). The "dirham" was the coin of the Persians. The dirham was struck in many Mediterranean countries, including Al-Andalus (Islamic Spain) and the Byzantine Empire (miliaresion), and could be used as currency in Europe between the 10th and 12th centuries, notably in areas with Viking connections, such as Viking York.



In the late Ottoman Empire the standard dirham was 3.207 g; 400 dirhem equal one oka. The Ottoman dirham was based on the Sasanian drachm (in Middle Persian: drahm), which was itself based on the Roman dram/drachm.



In Egypt in 1895, it was equivalent to 47.661 troy grains (3.088 g).



 



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Nepal. Pakistan, Sri Lanka, and few others share the same name for their currencies. What is it?



Rupee is the common name for the currencies of India, Indonesia, the Maldives, Mauritius, Nepal, Pakistan, Seychelles, and Sri Lanka, and of former currencies of Afghanistan, all Arab states of the Persian Gulf (as the Gulf rupee), British East Africa, Burma, German East Africa, the Trucial States, and Tibet.



The Indian rupees (?) and Pakistani rupees (?) are subdivided into one hundred paise (singular paisa) or pice. The Mauritian, Seychellois, and Sri Lankan rupees subdivide into 100 cents. The Nepalese rupee subdivides into one hundred paisa (singular and plural) or four Sukaas.



The immediate precursor of the rupee is the r?piya—the silver coin weighing 178 grains (11.53 grams) minted in northern India by first Sher Shah Suri during his brief rule between 1540 and 1545 and adopted and standardized later by the Mughal Empire. The weight remained unchanged well beyond the end of the Mughals till the 20th century.



The Hindustani word rupy? is derived from the Sanskrit word r?pya, which means "wrought silver, a coin of silver", in origin an adjective meaning "shapely", with a more specific meaning of "stamped, impressed", whence "coin". It is derived from the noun r?pa "shape, likeness, image". The word r?pa is further identified as related to the Dravidian root uruppu, which means "a member of the body".  Also, the word r?pam is rooted in Tamil as uru (shape) derived from ur (form) which itself is rooted in ul meaning "appear".



 



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Which country’s currency is ngultrum?



The ngultrum is the currency of the Kingdom of Bhutan. It is subdivided into 100 chhertum. The Royal Monetary Authority of Bhutan is the minting authority of the ngultrum banknotes and coins. The ngultrum is currently pegged to the Indian rupee at parity.



Until 1789, the coins of the Cooch Behar mint circulated in Bhutan. Following this, Bhutan began issuing its own coins known as chetrum, mostly silver 1?2 rupees. Hammered silver and copper coins were the only types issued until 1929, when modern style silver 1?2 rupee coins were introduced, followed by bronze 1 paisa in 1931. Nickel 1?2 rupee coins were introduced in 1950. While the Cooch Behar mint coins circulated alongside Bhutan's own coins, decimalization was introduced in 1957, when Bhutan's first issue of coins denominated in naya paisa. The 1966 issues were 25 naya paisa, 50 naya paisa and 1 rupee coins, struck in cupro-nickel.



While the Bhutanese government developed its economy in the early 1960s, monetization in 1968 led to the establishment of the Bank of Bhutan. As monetary reforms took place in 1974, the Ngultrum was officially introduced as 100 Chhetrum equal to 1 Ngultrum. The Ngultrum retained the peg to the Indian rupee at par, which the Bhutanese coins had maintained.



 



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