Currency, commonly known as money, is a commodity separated from the commodity world in the process of commodity exchange and fixedly serving as a general equivalent. It is a kind of currency. In essence, currency is a medium for purchasing goods and preserving wealth. The contract between the owner of the property and the market regarding the right to exchange is an agreement between owners. In layman’s terms: Currency refers to banknotes, coins, digital currencies, etc.
There are many countries in the world, and most countries have their own currencies. The currencies of different countries can be collectively referred to as world currencies. World currencies play the role of general equivalents in international commodity circulation.
Foreign currencies that are convertible in the international market are called foreign exchange. Such currencies can be roughly divided into major currencies, secondary currencies, and exotic currencies according to their liquidity.
Major currencies refer to the most liquid and most commonly used currencies, mainly including:
1. USD: The legal currency of the United States, full name: United States dollar, currency code: USD.
2. EUR: Currency of the 19 member states of the European Union, currency code: EUR.
3. GBP: The legal tender of the United Kingdom. Full English name: Great Britain Pound, currency code: GBP.
4. JPY: Japan’s legal tender, full name: Japanese Yen, currency code: JPY.
5. CHF: The legal tender of Switzerland, full name: Swiss Franc, currency code: CHF.
6. AUD: Australia’s legal tender, full name: Australian Dollar, currency code: AUD.
7. CAD: The full name is Canadian dollar, which is the legal tender of Canada. Full name: Canadian Dollar, currency code: CAD.
8. NZD: New Zealand’s legal tender, full name: New Zealand Dollar, currency code: NZD.
Minor currencies refer to some currencies whose liquidity is second only to major currencies, such as the Singapore dollar (SGD).
Exotic currencies refer to some currencies with poor liquidity, such as South African rand (ZAR), Hungarian forint (HUF) and so on.
