![]() ![]() Panama interestingly has no central bank, instead the government owns two separate banks to handle the country’s finances. The Panamanian balboa is also pegged to the US dollar, and has been in circulation since 1902 when Panama gained independence from Colombia. The Bermudian dollar is tied to the US dollar, which circulates in Bermuda equally to BMD.ĭue to offshore financial services and tourism, the per capita income of Bermuda is extremely high, and is currently fourth in the world. Until then, unique currencies had been used by each province, until 1871, when the government passed the Uniform Currency Act making the Canadian dollar the official currency.ĭue to the image of a common loon (a type of Canadian bird) on the one dollar coin, they are often referred to as ‘loonies’. The Canadian dollar came about in 1867 after the unification of the Province of Canada, New Brunswick and Nova Scotia to form the federation of Canada. While the interchangeability with the Malaysian ringgit was ended in 1973, the Singapore dollar is still interchangeable today with the Brunei dollar at par. Singapore has become economically strong since then, and is 11th on the list of largest foreign exchange reserves in the world. Singapore dollar – SGDĪfter separating from Malaysia in 1967 and forming the Board of Commissioners of Currency, the Singapore dollar was introduced due to the breakdown of monetary union between Singapore, Brunei and Malaysia. By GDP (PPP) per capita, Brunei ranks 9th in the world. The Brunei dollar is interchangeable with the Singapore dollar, and both can be used in either country.īrunei is a small but wealthy country, and makes up half of its GDP from revenues from the petroleum sector. The Brunei dollar replaced the Malaya and British Borneo dollar in 1967 after Singapore’s separation from Malaysia. The Australian dollar is also legal tender in the Christmas Island, Cocos (Keeling) Islands, and Norfolk Island and is also the official currency in Kiribati, Nauru, and Tuvalu. Introduced in 1966 to replace the Australian pound, the Australian dollar was initially pegged to the British sterling (which was common at the time) until fluctuations in the sterling meant that the Australian dollar detached in 1967. Introduced in 1967, it replaced the New Zealand pound which had been used since 1933. The New Zealand dollar is the official currency of New Zealand, as well as all its island territories and the Ross Dependency. Since joining the EU in 2007, Bulgaria has declared that they will be adopting the Euro as their official currency in 2024. The Bulgarian lev was introduced as Bulgaria’s currency in 1881 with a value equal to the French franc. When the dollar was introduced, the name ‘dollar’ was picked over pound as it more closely represented the value of the US dollar. The Fijian dollar has been in circulation since 1967, and was also briefly the currency for the country from 1867 to 1873, until it was replaced by the Fijian pound. ![]() In 1993, the inflation rate hit almost 2,500%, and the real was introduced to stabilise the economy. The Brazilian real has been the central currency since 1994, which it finally settled on after changing currency eight times since 1942. This doesn’t necessarily make one country richer than another, but the strength of a currency does often correlate with a country’s GDP and stability.Ī difference in exchange rates can have a large impact on international businesses, so if you are trading abroad, it’s important to check the value of the country’s currency, as well as their economic stability.Īs of 2023, here is a list of the top 20 strongest currencies in the world. Certain currencies are more valuable than others – some significantly more so. ![]() Frequently used Canadian dollar banknotes are in denominations of C$5, C$10, C$20, C$50, C$100.According to the UN, there are 180 currencies in circulation in the world. Frequently used Canadian dollar coins are in denominations of C$1, C$2, 1¢, 5¢, 10¢, 25¢. The Canadian dollar is subdivided into 100 cents (in English, symbol: ¢ or c) or sou (in French informally). The currency code is CAD and currency symbol is $, C$ or CAD$. It is also widely used by Saint Pierre and Miquelon alongside its official currency of euro. The Canadian dollar (CAD) is the currency of Canada. Frequently used Jamaican dollar banknotes are in denominations of J$50, J$100, J$500, J$1000. Frequently used Jamaican dollar coins are in denominations of J$1, J$5, J$10, J$20, 25¢. The Jamaican dollar is subdivided into 100 cents (singular: cent symbol: ¢ or c). The currency code is JMD and currency symbol is $, or J$. The Jamaican dollar (JMD) is the currency of Jamaica. The currency calculator will convert exchange rate of Jamaican dollar (JMD) to Canadian dollar (CAD). ![]()
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