If your dream is to ever live in a castle, this country will make your dreams come true. The Czech Republic has almost 1000 castles, each imparting a piece of history. In 1348, there is a castle nearby Prague that was discovered by Charles IV and it was called Karlsejn. The most famous castle that many people visit is the Prague castle, which was built in 9th century. This country has actually 40 castles that are well-maintained. Czech Republic is set to have records as the second Eastern European wealthiest country next to Slavonia. That’s why this country is a must to visit.

In 1920 to present, the flag of Czech Republic has never changed. The colors red and white were based from the first coat of arms of Bohemia. These colors are the same as the flag of Poland. There is a big question about the blue isosceles triangle of this flag, but others have said that the reason about the shape is to be distinct among countries such as Austria and Poland, neighboring countries of Czech Republic. The Czechs’ flag has two parallel bands with colors white (top) and red. Whilst the blue triangle was placed where the flag was lift to that side. This flag reflects the state, and the reason why they put first the white color is to represent that peace reigns in their country. The people also believe that conversing is the way to stop chaos instead of challenging each other’s bravery, so they placed red towards the bottom. According to psychological interpretations regarding triangle, the three sides is to see the meaning of the form and edges. So this means, a blue triangle tells an importance that the people should be vigilant, loyal and true, determined and fair.

Jamaican Dollar
Photo by: Wikipedia, Creative Commons

The Jamaican dollar (JMD) is the national currency of Jamaica. The exchange rate between the Jamaican dollar and the US dollar is approximately 85JMD: 1USD.

Jamaican coins currently in circulation are of 1c, 10, 25c, $1, $5, $10, and $20 denominations. All Jamaican coins except for the 1 cent coin features portrait of Jamaica’s heroes. The one cent coin features the ackee, the national tree of Jamaica and is 12-sided. The 10 cent coin shows Paul Bogle. The 25 cent coin and the 20 dollar coin both shows Marcus Garvey, but the latter is slightly bigger and is bimetallic.

The 1 dollar coin features Sir Alexander Bustamante and is 7-lobed, unlike all the round coins in Jamaica’s circulation. The five dollar coin portrays Norman Manley. The 10 dollar coin has a portrait of George of William Gordon.

The coat of arms appears on the other sides of all Jamaican coins. It was designed by William Sandcroft, the Archbishop of Canterbury back then. It is represented by a male and female Taino Indian on the sides of a shield bearing five pineapples on a red cross.

The banknotes of the Jamaican dollar are issued in 50, 100, 500 and 1000 denominations. The 50 dollar note features the national hero of Jamaica on the front: Samuel Sharpe, the leader of the slave rebellion in 1831. The reverse side of the 50 dollar note shows Montego Bay where Samuel Sharpe was hanged after the start of the slave rebellion.

The 100 dollar note shows a portrait of Sir Donald Sangster, Minister of France in 1953. Following Jamaica’s independence in 1962, he was once again named Minister. The Dunn’s River Falls, a popular tourist attraction, appears on the reverse side of the 100 dollar note.

The 500 dollar note shows the Rt. Excellent Nanny of the Maroons, a lone female national hero in Jamaica’s history. She was a military leader of the Maroons in the 18th century. The back side of the 500 dollar note shows an old map of Jamaica showing Port Royal: a safe place for pirates and slaves. It was then known as the ‘wickedest city in the world’.

The 1000 dollar note features Michael Norman Manley, a prime minister of Jamaica. The 5000 dollar note portrays Hugh Lawson Shearer, prime minister of Jamaica from 1967 to 1972.

The Kenyan shilling is the official currency of the country of Kenya. It was introduced in the year 1966, replacing the East African shilling. The ISO standard code for Kenyan shilling is KES. The currency is said to be divisible by 100 cents.

This currency is both introduced in coins and in paper banknotes. Currently, the denominations of this currency are as follows: 5, 10 and 20 for the Kenyan coinage and 50, 100, 200, 500 and 1000 for the banknotes. These current coins and notes had been seen to have multiple changes over the course of many years.

The first Kenyan coinage was issued in the year 1966 with the same denominations as it has today. Between the years of 1967 and 1978, it is said that the coins had the portrait of the first president of Kenya, Jomo Kenyatta. This portrait was particularly seen on the obverse of the coins.

Kenyatta’s portrait was then changed to the portrait of Daniel Arap Moi in the year 1980 lasting until the year 2005. In the latter years, the central bank had issued coins with the restored portrait of Kenyatta. The coins are made of stainless steel for the denominations of 50 cents and 1 shilling while a bi-metallic coin was issued for 5, 10 and 20 shillings.

In 2003, a bi–metallic 40 shilling coin was introduced with the portrait of President Kibaki. This was done to simply commemorate the fortieth anniversary of Kenyan independence. But again, as aforementioned, in the year 2005, the coins were restored to their original look with the portrait of the first president.

The bank notes, on the other hand, were issued in 1966 by the Central Bank of Kenya with denominations of 5, 10, 20, 50 and 100 shillings. In the year 1985, 1994 and 1998, the shilling notes of 5, 10 and 20 were replaced by coins respectively. Meanwhile, 200 shilling notes were issued in the year 1986 followed by 500 and 1000 shillings in the respective years of 1988 and 1994.

Similar with the coins, portraits of the first president, Kenyatta, were printed on the banknotes issued until 1978. By the year 1980 it was then replaced by the portrait of Daniel Arap Moi. In the year 2003 it was then replaced by Mwai Kibaki, restoring the notes to the portrait of Kenyatta and circulated throughout the country.

The history of such a currency and its representation greatly speaks of the reigning power from the country’s very own ruler. The shifting of power from one person to the next affected the actual design of the coins and notes until the year 2005. This great feature of the currency makes the Kenyan shilling unique in the eyes of the other currencies of the world. In the present time, one dollar is equivalent to 81.84 shillings.

The Haitian gourde (HTG) was introduced to Haiti in 1813. It has an exchange rate of 40.85 gourde to 1USD. It is subdivided into subunits called centimes, where 100 centimes is equivalent to 1 gourde. The Haitian gourde replaced the livre and was equivalent to 8 livres and 5 sols. The government of Haiti has issued notes of 1, 2, 5, 10, 20, 25, 50, 100 and 500 gourde denominations. The first coins consisted of 6, 12 and 25 centimes. The 50 and 100 centimes were introduced to the people of Haiti in 1827, shortly followed by the one and two centimes a year after.

The Haitian gourde has experienced two revaluations since its introduction. The first one was on 1870, where the gourde has been revalued at a ratio of 10:1. The third gourde revaluation took place on 1872, at a rate of 300:1. This was the same time that the gourd was started to be called piastre. The gourde was pegged to the French franc in 1881, where 5 francs became equivalent to 1 gourde, but this peg did not last long. In 1912, the gourde was pegged to the U.S. dollar and this peg lasted until 1989. Five gourds back then has been called the ‘Haitian dollar’. The 10, 20, 25, 50, 100, 250, 500 and 1000 gourde denominations are the ones currently in circulation.

The Haitian gourde is represented by symbols of historical relevance.
• 10 gourde –Sanite Belair: an affranchis that fought as a sergeant with Toussaint Louverture; a hero of independence struggle; a catalyst for the Haitian Revolution
• 20 gourde –Toussaint Louverture: the leader of Haitian Revolution; military genius
• 25 gourde –Nicolas Geffrard: Haitian musician who composed the Haiti’s National Anthem, La Dessalinienne (The Dessalines Song)
• 50 gourde –François Capois: a Haitian rebel slave; a fighter for the Battle of Vertières
• 100 gourde –Henry Christophe: a key leader of the Revolution of Haiti which freed Haiti from France in 1804; the creator of Citadelle Laferrière (appears on the back of the 100 gourde)
• 250 gourde –Jean-Jacques Dessalines: the first leader of Haiti after it being freed from the French under the 1801 constitution; Emperor of Haiti (1805)
• 500 gourde – Alexandre Pétion: president of Haiti from 1806 until his death; a founding father of the Republic of Haiti
• 1000 gourde – Florvil Hyppolite: president of Haiti from 1889-1896 by a constitutional council

In 1848 the flag of Costa Rica was drafted and constituted under the rule of President Jose Maria Castro Madriz. Its colors were gotten from the French flag, which the President’s wife, Lady Pacifica Fernandez, found inspirational. These colors were designed from the ideals of the French Revolution which initially symbolizes freedom, equality and brotherhood. Later on, several values have been added to represent the colors of the Costa Rican flag.

The three colors of the flag of Costa Rica are blue, white and red. They form band of horizontal stripes with a ratio of 1:1:2:1:1. The color blue signifies the sky above the country, the opportunities available at hand for the Costa Ricans, their idealism and the perseverance that is natural for the people of the land. The color white on the other hand symbolizes peace, happiness, wisdom and its liberty, which the Costa Ricans have relished since Spain gave the freedom of all Central America on September 15, 1821. Lastly, the color red represents the warmth of the people (via rivera at dhead online), their love of life and the blood which was spilled by the Costa Rican heroes and martyrs in the defense of their nation.

Save for the national flag of Costa Rica (Bandera Nacional), the country also designed the National Shield, or pabellon nacional. It is the depiction of the Central Valley, which is located between the Pacific Ocean and Caribbean Sea. Three volcanoes with merchant ships are also present in the flag; these represent the Costa Rica’s mountain ranges and their trading with the rest of the world. A rising sun can also be seen which signifies Costa Rica’s search for prosperity.

Other symbols can also be seen on their National Shield. They are the seven stars which represent Costa Rica’s seven provinces, a white banner where the Spanish name of the country is written and a blue scroll with the words “America Central”, which honors the former United Provinces of Central America.

The Cuban Peso (CUP) has an exchange rate of 0.93 against 1 USD. It is one of the two official currencies of the country, the other being the Cuban Convertible Peso (CUC). The symbol for the Cuban Peso is $MN which stands for ‘moneda nacional’ in Spanish, meaning the national peso, while the convertible peso might as well be called ‘chavito’. Basically, 1CUP is equivalent to 1CUC, but items bought with national pesos have controlled prices.

It was in 1857 when the Banco Español dela Habana (Spanish Bank of Havana) introduced peso notes in the 50, 100, 300, 500 and 1000 denominations. Ten years later, the 25 peso notes were introduced to the people of Cuba. The 5 and 10 peso notes followed the introduction shortly after 2 years. When the Ten Years’ War broke out, notes issued were in denominations of 50 cents, 1, 5, 10, 50, 500 and 1000.

In 1872, the Spanish Bank issued 5, 10, 25 and 50 centavo coins, and 1 and 3 Cuban peso notes. It was 1896 when the Banco Español dela Habana changed its name to Banco Español de la Isla de Cuba and issued notes in 5 and 50 cents, and 1, 5, 10, 50, 100, 500 and 1000 pesos. This was shortly followed by the introduction of the 10 and 20 centavos in 1897.

From 1993 to 2004, the Cuban currency consisted of the Cuban peso and the U.S. dollar. As retaliation against the U.S. sanctions, the government of Cuba withdrew the U.S. dollar from its national currencies. As of today, only shops selling basic items and merchandise generally accept the national peso.

• 1 peso – Color: Green; Front: Jose Marti; Back: Fidel Castro with rebel soldiers in 1959
• 3 pesos – Color: Red; Front: Ernesto “Che” Guevarra; Back: Ernesto Guevarra
• 5 pesos – Color: Green; Front: Antonio Maceo; Back: Conference between A. Maceo and Spanish General A. Martinez Campos
• 10 pesos – Color: Brown; Front: Maximo Gomez; Back: Guerra de todo el pueblo
• 20 pesos – Color: Blue; Front: Camilo Cienfuegos; Back: Agricultural scenes
• 50 pesos – Color: Violet; Front: Calixto García Íñiguez; Back: Center for Genetic Engineering and Biotechnology
• 100 pesos – Color: Brown-red; Front: Carlos Manuel de Cespedes; Back: Statue of Jose Marti

One of the most important aspects of an economy is the currency. The currency, either in coin or bill form, represents a country’s monetary value. The currency is also used as a medium of exchange. You can buy things using money and you can bring your money in other countries and have them exchanged to that country’s specific currency. One currency that you might know about is the Macedonian denar. Although Macedonian denar is not as popular as the US dollar.

• The abbreviation of the Macedonian denar is MKD and is used in the Republic of Macedonia. One MKD is equivalent to 100 Deni. The value of one MKD compared to the US dollar is 1 MKD to 0.023 US dollar. This information is something that every Forex trader should know.
• When Macedonia became independent from Yugoslavia on September 1991, it immediately established its own currency, which is called the Macedonian denar. This currency was officially recognized as the republic’s currency on April 26, 1992. At first, the value of MKD is the same as the value of the Yugoslavian dinar but on May 5, 1993, the currency was reformed and became equivalent to 100 old denars.
• The Macedonian denar coins have denominations of 1, 2, and 5. It also has 50 deni. The currency also has 10, 50, 100, 500, and 1000 MKD bills. The money is issued by the National Bank of the Republic of Macedonia.
• If you are going to travel in Macedonia, you will usually find your wallet full of 10 and 1000 denar bills. 10 denar notes do not have that much value while 1000 denar notes are usually too much to buy things with. Fortunately, Macedonian products are inexpensive. This means that you can still use your 10 denar notes to buy souvenirs or other goodies.

It’s good to learn about foreign currency whether you are a Forex trader or a world traveler who visits different countries all over the world such as the Republic of Macedonia.

If you want to go to Europe to learn more about the medieval history, you should consider going to Romania, a country in Europe famous for its well-preserved medieval villages. If you visit the country, specifically in Transylvania, you will feel as if you are walking in a medieval town because of the ancient structures like castles, houses, towers, and even ruins. This country is also known as the home of the fictional character Dracula.

Before visiting this place, it is important to learn more about the country, especially its currency. After all, you need to exchange your money for their currency to be able to buy things and other necessities while you are in Romania.
The national currency of Romania is the Romanian leu or lei in its plural form. It is abbreviated as RON. One RON is equal to 100 bani and 0.33 US dollars. You might want to know these figures if you are planning to bring dollars with you when you travel to Romania or if you plan to buy currency in the Forex market.

Do not be confused with the Moldovan leu and the Romanian leu. Moldova was a former province of Romania, which is the reason why they use leu to refer to their currency even after Moldova became independent from Romania.
The Romanian leu underwent several currency reforms and reevaluations. There were first, second, and third lei and currently, the country is using the fourth leu. The current leu (RON) is equal to 10,000 old lei (ROL).

Currently, the currency has 1, 5, 10, 50, 100, 200, and 500 bank notes. The appearance looks just like the old currency ROL with only some minor changes in some bills. The Romanian lei also feature historical figures and national symbols on its bank notes and coins.

In the future, specifically in January 2015, Romania will also adopt the Euro (EUR) after it has been accepted in the European Union. On your trip to Romania, be sure to enjoy spending and using your Romanian lei because they will soon be out of circulation once the Euro starts to replace them.

Sweden is one of the most popular countries in Europe. It is, in fact, the third largest country in the European Union. It is a Nordic country and was formerly known as the Kingdom of Sweden. Sweden is rich in history, culture, and natural sights which made one of the most popular tourist destinations despite the usually cold weather.

Sweden’s currency is called ‘krona’ or ‘kronor’ in its plural form. Its code is SEK and sign is kr. Both of these symbols are well-known and used in different economic settings and currency markets. The literal meaning of the word ‘krona’ is ‘crown’ which is why it is sometimes called as the ‘Swedish crown’ in English speaking countries. Together with the Euro (EUR), which is the official currency of the Finnish, krona is being used in the Aland Islands.

Previously, krona was equivalent to 100 ore. But on September 2010, the circulation of ore completely stopped. The value of 1 Swedish krona is equal to 0.16 US dollars.

The term ‘krona’ was first used in the Scandinavia Monetary Union which includes Sweden, Denmark, and Norway. Krona was used in Sweden while krone, which also means crown, was used in the other two countries. When the Union was dissolved, these countries continued using the name krona and krone with different values.

The Swedish krona has denominations of 20, 50, 100, 500, and 1000 kronor. The images on these bank notes are important figures in history and national symbols.

Just like most European countries, Sweden will also start using the Euro sometime in the future. After signing the accession treaty in 1995, Sweden is required to enter the European Union at some point and change its currency when this happens.

The Malagasy ariary is the official currency of Madagascar. This currency has the ISO standard code of MGA and is subdivided into 5 iraimbilanja. Madagascar is one of the two countries which hold a non – decimal type of currency. The name ariary and iraimbilanja were derived from the pre–colonial currency. Ariary is named for a silver dollar while iraimbilanja literally pertains to “one iron weight”. The latter was named after the 1/5 worth of an ariary old coin.

Introduced in the year 1961, the ariary was equivalent to 5 francs. Issued coins and banknotes at that time both came in both francs and ariary. The sub – unit of ariary, the iraimbilanja, is worth 1/5 of an ariary.

Before, franc denominations were favored but in the year 1978, higher-valued coins were issued in the denominations of ariary alone. The banknotes, issued in the 31st of July year 2003, came prominently in ariary currency while the franc denominations came in small prints. It was not later than the 1st of January 2005 when ariary was named the official currency of the country over the franc currency.

In the year 1965, 1 and 2 franc coins were issued first, followed by the 5 francs which is said to be equivalent to 1 ariary in the year 1966. The 10 and 20 franc coins were later introduced in the year 1970. By 1978, the 10 and 20 ariary coins were issued and circulated. These coins were shown not to have any denomination in francs. Later, non-franc denomination coins of 5, 10, 20 and 50 ariary followed the trend in 1992. By 2003 – 2004 most 1 and 2 ariary coins do not bear any franc denominations.

As for the face of the banknotes in the history of such currency, the Malagasy Institute for Emissions introduced such notes under the denominations of 50, 100, 500, 1000 and 5000 francs. These actual notes were said to be the overprints of earlier notes provided by the Bank of Madagascar and Comoros which issued notes under the ariary denomination of 10, 20, 100, 200 and 1000.

It was not later than the year 1974 that the Central Bank of the Malagasy Republic took over the issuance of notes. In the year 1983, the bank’s name was changed to Central Bank of Madagascar which issued the new series of notes including the 10, 000-franc notes. The battle between francs and ariary in being the country’s currency continued between the years 1993 to 1998.

Bouncing powers of denomination between ariary and francs were seen throughout these years. The battle continued throughout 2003 to 2004 and only ended in the year 2005. In the latter year, ariary won as Madagascar’s official currency.

The battle of powerful currencies had been stretched out in the entire history of Madagascar’s currency. The evolution of coins and notes were greatly influenced by these battles. The unique thing about the currency is that instead of holding within its prints the history of the place, it had been holding the secrets and battles commenced between the two currencies of Madagascar. Today, one US dollar is equivalent to 1,971.40 Malagasy Ariary (MGA).

One of the most interesting countries in the world is Turkey. This is due to the fact that it was once a battleground of great empires. You will see ruined castles and palaces of these empires that you have read about in history. Famous figures in history fought their battles in this country such as Alexander the Great, Achilles, and the powerful Ottoman Empire. These battles were an important part of the history because they helped shape the world as you know it today.
Aside from its colorful and tumultuous history, Turkey is also a great place to unwind and experience Mediterranean comforts. But before you hop in a plane and visit Turkey, it is first important to learn more about its currency, the Turkish lira.

The history of the Turkish lira is just as colorful as its national history. The term ‘lira’ was first used in 1844 by the Ottoman Empire. At first, lira was used to refer to a gold coin. Other monetary units used by the Ottoman Empire were akce (currently known as kurus) and para.

Paper money was later on introduced and kurus was used instead of lira. It was only in the mid 1870s when lira replaced kurus. The denominations of the old Ottoman lira start from 5 to 1000. In the early 1920s, the Ottoman lira was replaced by the Turkish lira, which includes silver coins and bank notes. The denominations of the Turkish lira notes are 1, 5, 10, 50, 100, 500, and 1000 lira.

The figures featured in the Turkish lira include the national hero Mustafa Kemal Ataturk and President Ismet Inonu.
Unfortunately for the Turkish lira, it suffered devaluation because of the chronic inflation and recession which started in the 1970s. In fact, the Turkish lira was dubbed as one of the least valuable currency in the world in the past several years.

In January 2005, new Turkish lira was issued by Turkey’s national bank to address the problem of inflation. Another reformation happened in 2009. A new series was introduced, which means that the 2005 series will no longer be accepted as payment starting January 2010 but can be exchanged with the new lira until December 31, 2019.
The current value of 1 Turkish lira is equal to 0.62 US dollars.

Ukraine is a country located in the Eastern part of Europe. It might not be at the top of your list of places to visit, but Ukraine has its own share of colorful history and amazing sights and natural resources. But aside from its history, culture, and tourist spots, another important thing that you might want to learn about Ukraine is its currency.

Ukraine’s national currency is called hryvnia. Ukrainian hryvnia might be difficult to pronounce but this is an important aspect of the economy of Ukraine. Hryvnia is also sometimes called as hryvnya or grivna. It has been the national currency of Ukraine since September 2, 1996. One Ukrainian hryvnia is equal to 100 kopiyok.

This currency was used in the Kievan Rus in the medieval times and it was called as grivna. The literal meaning of this term is ‘mane’ or ‘bracelet.’ In the ancient times, grivna, either made of gold or silver, was worn around the neck.

Although Ukrainian hryvnia has several names, it is read as grivna after its Russian pronunciation. However, the National Bank of Ukraine suggests a differentiation between the hryvnia and grivna in historical and practical use.

The Ukrainian coins were introduced in 1996. They are called kopiyok coins and are made of a combination of brass and aluminum. Bank notes include 1, 2, 5, 10, 20, 50, 100, 200, and 500 denominations. From 2008, the Ukrainian hryvnia lost 1/3 of its value because of inflation and became more stable in the first half of 2009. Movement of the Ukrainian hryvnia has been unpredictable since 2008, something that every Forex trader should know.

The Flag of Bermuda, which was adopted on October 4, 1910, is a British red ensign with a Union jack on its upper left corner and the Bermuda coat of arms on its lower right. One thing that is unique with the flag is its use of the red ensign as an overseas British territory, while other British territories ashore only use the blue ensign. The reason for this is to keep up with pre-1965 Canada and the pre-1928 Union of South Africa, both of which used red ensigns.

The flag of Bermuda’s Union Jack on its upper left corner signifies its ties with Britain, being one of its territories. It also symbolizes oneness and unification. The Bermuda’s coat of arms also has several symbolisms of its own.

In the coat of arms in the flag of Bermuda is a red lion that is holding a shield that depicts a sinking ship on the center. The red lion is the representation of England which bonds Bermuda with the country. The ship on the other hand is the Sea Venture of Bermuda that was the flagship of the Virginia Company. Sea Venture was intentionally crashed into the reefs of Bermuda by its Admiral, George Sommers, in 1609. This deliberate move was made to avoid the storm ranging in the waters. Because of this daring act, 100% of the crew survived. Consequently, these survivors chose to stay in the island and became the first settlers of Bermuda.

The pre-1999 flags have the coat of arms without the scroll incorporated in it as contrary to the unconfirmed variant that was released after 1999, which carries the scroll with the inscription – “ Quo Fata Ferunt” which means “Whither the Fates Carry [Us]”.

As a British overseas territory, Bermuda uses a Governor’s flag with a Union Jack defaced with the Bermuda’s coat of arms in the center while the State ensign, the blue ensign is used.

Mauritanian Ouguiya
Photo by: Wikipedia, Creative Commons

Ouguiya is the currency in the outskirts of the Mauritania country. Next to Malagasy ariary, this currency does offer a non – decimal type of division when it comes to its units. Each ouguiya makes 5 khoums. The ISO standard code of ouguiya is MRO. The introduction of the currency happened in the year 1973, replacing the CFA franc that reigned as the Mauritania currency at that time.

Similarly with the other countries, coins and banknotes were issued to give better representation of such currency. Within its coinage system, the 1/5 or 1 khoum, as well as ouguiya coins in 1, 5, 10, and 20 denominations were brought in the year 1973. The 1 khoum denomination is said to be issued only in that particular year. The most recent issuances of coins happened in the year 2003, giving rise to the 1 ouguiya denomination, and in the year 2004 when other denominations were introduced.

The coins in this type of currency are said to be minted from Kremnica mint found in Slovakia. Later, in the year 2009, the coins were slightly changed. These changes include the reduction of 1 ouguiya in terms of size and composition and the issuance of a bimetallic 20 ouguiya. Just recently, in December 2010, the bimetallic 50 ouguiya was issued and circulated in the country.

The year 1973 saw the issuance and circulation of 100, 200 and 1000 ouguiya denominations that were issued by no other than the Central Bank. This is followed by another series of notes that were issued with the very same denominations at hand. It was not until the year 1979 that the 500 ouguiya was added in the system.

The banknotes of this currency, starting with the second issue, were and are being printed in Munich by the printers Giesecke and Devrient. Mauritania also holds security features within their monetary system, thus the issuance of banknotes in the year 2004 was primarily done to upgrade such features. This newly upgraded currency includes all the early denominations added by the new 2000 note. In 2010, Mauritania issued the circulation of a 5,000 note.

At present it has been seen that most of the coins, especially within the outskirts of the Mauritanian capital of Nouakchott, are in good to very good condition. On the other hand, the banknotes particularly the 100 and 200 denominations seem to come in poor or fair condition while the other denominations are provided in excellent and exquisite condition.

As reported by many people, the Central Bank is not helping enough to provide new condition notes and coins. Thus, further development is dreamed of in this type of currency. This currency is seen to be in its baby form compared to other currencies and future developments are to be observed closely. Today, one US dollar is equivalent to 286.12 MRO.

The Canadian dollar is the official currency of Canada and one of the best performing world currencies over the last few years. Canada’s money is also fondly referred to as the Canadian loonie after the amphibious water bird endemic in the country. The loon became the iconic symbol of Canadian currency immortalized in Canadian coins for the first time when one-dollar coins with the loonie bird on one face were minted in 1987.

Financial analysts are in agreement on the promising outlook of the Canadian loonie for 2011—edging even the formidable currency of their continental neighbor the United States.

The close affinity of the Canadian monetary system and exchange market to their US counterparts stem from their shared history of the colonial trade era. The Spanish dollar was widely circulated in North America during the 18th and 19th centuries and when the Canadian dollar first became the official currency of the Province of Canada in 1858 the former British colony adopted the dollar system instead of the Pound sterling. Today the loonie or CAD come in 1¢, 5¢, 10¢, 25¢, $1, and $2 Canadian coins and $5, $10, $20, $50 banknotes.

The Royal Canadian Mint issues Canadian coins while the Bank of Canada issues Canadian paper currency. On one side of Canadian banknotes an inscription of the name of Queen Elizabeth II appears in Latin—serving as a reminder that Canada remains a member of the British commonwealth of nations. The official languages of Canada are English and French and this is reflected on the wording of the national currency.

The value of the Canadian dollar has been soaring since world commodity prices continue to peak and the US dollar struggles to maintain its dominance. Canada is a dynamic export economy driven by international trade of oil, natural gas, metals and lumber and its currency is propelled by the rising prices of commodities in the world market.

The global economic meltdown of late did not gravely ruffle the loonie’s feathers for Canada’s financial system remained stable in large part to the Canadian government implementing austere financial measures on their major banks and the nation’s coffers. By the end of 2010 the Canadian dollar’s exchange rate was $1.0042 against the US dollar. A continued rise of the Canadian currency is expected for 2011.

The Moroccan Dirham is the official currency in the country of Morocco with currency code MAD. Issuance of the Dirham is done by the Bank Al-Maghrin, the Morocco’s central bank.

Historically, the Dirham originated from the Byzantine Empire’s Drachm and circulated in Arabia and the Levant during pre-Islamic times. The name “Dirham” comes from the Roman word “Denarius” which was a currency used during the Roman period. Before 1882 Morocco’s currency consisted of copper coins in Falus denomination, silver coins which are called Dirham, and Benduqi gold coins. Starting 1882 Morocco adopted the Rial as its official currency and Dirham became its fraction with 1 Rial = 10 Dirham. Reintroduction of the Dirham came in 1960 replacing the Franc as a major currency after the French controlled most of Moroccan territories from 1904 to 1956. However, circulation of the Franc continued with 1 Dirham = 100 Francs. By 1974, the Centime replaced the Franc.

The Dirham coin denomination consists of 1, 5, 10, 20 centimes and ½, 1, 2, 5, and 10 dirham. The 1 centime is made up of aluminum and the 5-20 centimes are made from brass. The ½ to 2 dirham coins are composed of cupronickel; while the 5 and 10 dirham are ringed bi-metallic made up of cupronickel and brass for the 5 dirham and aluminum bronze and cupronickel for the 10. Banknotes consist of 10, 20, 50, 100, and 200 dirham. A US dollar is approximately around 8.13 at present ratings.

The exchange of the Moroccan Dirham appears quite simple and straightforward but visitors and tourists to this country get confused at times with the wide acceptance of the Rial as a monetary unit. The Rial, though not official, is still popularly expressed by many. Rial is used when speaking in Arabic while the Centime when speaking in French. In most parts of the country, the exchange is like this: a Dirham is equal to 20 Rials. In the City of Tangier, though, and the Rif region located in the northern part of Morocco, only 2 Rials is equivalent to the Dirham. There is no set exchange rate or standard for the Rial. And what’s more confusing, the Centimes are at times called Francs or Pesetas in some parts.

A great leap will not necessarily find secure landing on both feet. But Cambodia, even with their failure in adopting a barter system, found ways to eventually reintroduce money and start building an economy of their own.

The Cambodian riel took on the challenge of coping with the major currencies of the world. Due to the imposition of barter by the Khmer Rouge, the currency disappeared for a while. In 1980, the circulation of riel returned with its value being 4 KHR to 1 USD. By that time, the economy was still adjusting with the use of a monetary system again. The new riel was practically given away to the people (since there was no former money to substitute with the new) so it could start circulating quickly. The US dollar stayed behind however, and was still preferred in most of the urban areas of Cambodia.

The riel originated from the Spanish dollar, pieces of eight, widely traded around Southeast Asia. It was not until 1953 that it became Cambodia’s official currency. Their first machine made coin was actually the tical, which weighed around 15 grams of silver. Although later, with invasion of the French Indochina, piastre was introduced. This was at par with riel in that time.

The denominations of the Cambodian riel in notes are 50, 100, 200, 500, 1000, 2000, 5000, 10000, 20000, and 50000 KHR. The current exchange rate is 4000 KHR per 1 USD. This makes it quite impossible to produce lower denominations which will have less worth in the foreign market. The riel would only be of use locally.

In light of the bill designs, Cambodia’s wat (temples) dominated most of the patterns, with its vibrant colors breaking the monochromatic standard in currency layout. But the arrangement of the country’s famous spots on paper actually matched a beneficial purpose. The businesses have launched a campaign aiming to promote Cambodian tourism. This assigned the official currency a significant job; to be a symbol of the preservation of its heritage. While it is still in circulation, it will be the support in promoting the arts, culture, and nature of Cambodia.

The Afghani is the official currency of the country of Afghanistan with currency code AFN. An Afghani is equivalent to 100 Pul. In addition, 20 Afghani is equivalent to the Amani. The 1st Afghani was launched in 1925. It was meant to replace the rupee at a rate of 1.1 rupee = 1 Afghani. It is still, however, common to hear an Afghan use the word rupee when referring to the Afghani. This should not be confused with the Pakistani rupee for until 1925 Afghanistan’s currency is the Afghan rupee.

Between 1925 and 1993 several denominations of Afghani coins and banknotes were in circulation. Coins issued during this period consisted of 1, 2, 3, 5, 10, 20, 25 pul in bronze, brass, copper nickel, and aluminum-bronze; silver ½, 1, and 2½ Afghani; and gold ½, 1, and 2½ amani. Banknotes issued were in the following denominations: 2, 5, 10, 20, 50, 100, 500, 1000, 5000, and 10000 Afghani. In 1958 bank notes worth 2 and 5 were switched with coins.

Afghanistan’s currency history was marked with a lack of standardization, forgery, and currency revaluation. Before the Afghanistan invasion by the US in 2001, political parties, warlords, forgers, and foreign powers came up with their own banknotes that were tradable. There was no system or standard that was followed. When the Taliban seized government control in 1996, the Taliban’s central bank proclaimed most active Afghan bank notes worthless.

They terminated the contract the previous government had with a Russian firm responsible for printing the Afghani notes in an attempt to eradicate its circulation. The Northern Alliance, however, continued to have notes printed in Russia. These were then sold in the Kabul marketplace at 50% off their value. By this time the Afghani’s value depreciated sharply and by 2001, 1 USD = 73,000 Afghani.

After the U.S. Invasion and the toppling of the Taliban government, a new currency or Afghani was launched in 2002. The new Afghani has no subdivision and replaced the old one at 2 different rates. The ones issued under the term of President Burhanuddin Rabbani were substituted at a rate of 1,000 to 1 new Afghani while those issued by Abdul Rashid Dostum of the Northern Alliance were traded at a rate of 2,000 to 1 new Afghani.

Coins were issued in 2005 at denominations of 1, 2, 5 Afghani. Bank notes were issued in 2002 in these denominations: 1, 2, 5, 10, 20, 50, 100, 500 and 1000 Afghani. In 2005, the 1, 2 and 5 notes were swapped with coins. The new Afghani was valued 43 Afghani to the US dollar and has remained steady with slight movements up to today.

Japanese Yen
Photo by: Wikipedia, Creative Commons

Japan’s recent generation might not remember, or even know, how close their country was to ruin. The economy almost collapsed, including the other silver trading nations, with the implementation of the gold standard. Unexpectedly, the country rose from the fall and made its currency a major foreign exchange favorite.

The symbol for the Japanese yen (¥) is similar to the Chinese Yuan and Korean won. Literally meaning “round object”, yen (pronounced as en) originated from the Spanish silver coins widely traded around Asia.

In the 16th century, the Japanese pronunciation of /e/ is the same as /we/. But Portuguese missionaries interpreted this as /ye/, thus pronounced in Western world as yen instead of en. This widely influenced the Japanese words translations in other languages. Finally in 1886, James Curtis Hepburn, a Christian missionary, launched the 3rd revision of his Japanese and English dictionary, with /e/ used officially except in the yen.

The Japanese yen can be divided into 100 sen. The circulating coin denominations are 1, 5, 10, 50, 100, and 500 yen. The banknotes are in 1000, 2000, 5000, and 10000 yen. Before the gold standard, the yen is on fixed exchanged rate with the US dollar at 360 JPY per 1 USD. But in 1985, major countries declared the dollar as overvalued putting the yen as undervalued. After negotiations, a new fixed rate was implemented in 1971 which makes 308 JPY per 1 USD.

Fully shifting to the managed currency system, the supply and demand supported the growth of the yen in the foreign exchange market. Later on, the yen became in demand in major reserves and landed as the third most exchanged currency in the world.

Locally, even the 10000 yen bill is widely accepted by merchants in the country. There was no problem regarding lower denominations. This might be due to Japan operating mostly on cash basis. People still carry large amounts of cash with them. Cards are also accepted but mostly for the benefit of the business and tourism. As a leading technological nation, cellular phones are also used for payments when out of cash.

The CFA Franc is an umbrella name for two separate yet interchangeable currencies widely used in Africa, namely: West African and Central African CFA Franc. These two currencies share the same monetary value at 655.957 CFA Francs for every Euro. This does not mean, though, that this commonality is permanent. In fact, should the authorities decide to do so, the value of either of the two or even both currencies can change.

It is also worth taking note that the two CFA Franc currencies cannot be used interchangeably; that is, one cannot use the West African CFA Franc in Central African countries, and the Central African CFA Franc cannot be used in West Africa. The currency code for the Central African CFA Franc is “XAF”; for its West African counterpart, “XOF”.

December 1945 saw the creation of the CFA Franc in an effort to save French colonies from the voluntary devaluation that hit the French Franc following the ratification of the Bretton Woods Agreement France had with the United States. The acronym “CFA” originally meant “Colonies francaises d’Afrique” or “French colonies of Africa”; its meaning, though, changed two times in the course of several decades. When the 5th Republic of France was established, CFA came to stand for “Communaute francaise d’Afrique” or “French Community of Africa”. And when the colonies became independent, another change occurred. This time, CFA became the acronym for “Communaute Financiere Africaine”, or “African Financial Community”.

The Central African CFA Franc is used by the following states: Gabon, Republic of the Congo, Central African Republic, Cameroon, Chad, and Equatorial Guinea. Issuance of this currency is the task of the Bank of the Central African States. A single CFA Franc can be subdivided into 100 centimes; however, no centime denominations has ever been issued.

As opposed to the 6 countries that make use of the Central African CFA Franc, there are actually 8 states that have the West African CFA Franc as their official currency. These are the following: Togo, Niger, Mali, Senegal, Guinea-Bissau, Burkina Faso, Benin, and Cote d’Ivoire. The West African CFA Franc is issued by the Central Bank of the West African States.

Kyrgyzstan was formerly a country of the Soviet Union, but it is now Central Asia’s second poorest country, next only to Tajikistan. The country suffered greatly due to their dependency in the fallen Union.

The republic’s currency is the Kyrgyzstani som which is subdivided into 100 tyiyn. It replaced the Soviet ruble in 1993, at the rate of 200 rubles per 1 som. The coins exist in 1, 3, 5, 10, and 50 tyiyn denominations. The banknotes are in 1, 5, 10, 20, 50, 100, 200, 500, and 100 som denominations. Unlike the widespread silver based currencies, the word som implies pure gold.

Rules on currency are not that strict but due to current political struggles, tourism is very affected and the currency is very risky to hold for worldwide exchange. There is currently a US travel advisory for Kyrgyzstan. There are industrial and agricultural effects to the turmoil, too. Thankfully, it was able to gain some support from the countries due to manpower flowing to China, India, and other industrialized countries for better economic opportunity.

Credit cards are rarely used in Kyrgyzstan. Like most Central Asian nations, cash is the preferred medium in purchase and selling. Mostly major currencies are acceptably exchanged in the banks, but some urban exchangers only accept specific currencies. Bills should also be in good condition upon exchange.

The Kyrgyz bills were well designed and contain several notable people in the arts. One is the Great Kyrgyz Ballerina Bubusara Beyshenalieva in the 5 KGS bill. She made her first debut in the Bolshoi Theatre in Moscow. She was named prima ballerina of the Kyrgyz ballet and later on become a ballet professor.

For a country part of the Soviet, they were also patrons of the arts, architecture, and music. Trekking and camping in the country’s mountainous regions is very popular thus, the country’s natural beauty reflected on the bills, such as the Khan Tengri mountains, translated into Turkic as “Rulers of the Sky”. Water sport exists but only at Lake Issyk-Kul. It’s also on the bill noted for its beautiful scenery, and the fact that it doesn’t freeze in winter due to its hot temperature.

The South African Rand is the official currency of South Africa. The name “Rand” is taken from “Witwatersrand” (translates as “white waters ridge”) which is a low, sedimentary range of hills that runs through Gauteng province in South Africa where a high volume of gold deposits has been found. The Rand’s currency code is “ZAR” which is an acronym for the Dutch “Zuid-Afrikaanse Rand” (South African Rand). Its symbol is “R”; it is further divided into 100 cents, the symbol for which is “c”. The rand is also legal tender in other countries like Swaziland, Lesotho, and Namibia.

Introduction of the rand happened in February 14, 1961 during the same year that South Africa declared independence from British rule. It became the replacement for the South African pound which was the legal tender prior to 1961 at a rate of 2 rands for every pound, or 10 shillings for every rand.

Rand coins come in denominations of 5, 10, 20, 50 cents and 1, 2, 5 rand. To reduce counterfeiting, an R5 coin was issued in August of 2004. Among the security features included are a bi-metal composition, a uniquely serrated groove situation around the rim, as well as micro-lettering.

Rand notes in current circulation come in 2, 5, 10, 20, 50, 100, 200 rand denominations. The 1st series released in 1961 were 1, 2, 10, and 20 denomination notes that featured a portrait of Jan Van Riebeeck, who is the Dutch colonial administrator who established Cape Town in 1652. In 1978-84 denominations came in 2, 5, 10, 20, as well as 50 rand with a change in design but still bore the Jan Van Riebeeck image. Changes in the design of the notes took place in the 1990s with representations of the wildlife species.

The 2005 note series came with security features like color shifting ink and the constellation of EURion. The facade of the notes is in English; the reverse side, though, shows the other ten South African languages – enabling all 11 South African languages to be showcased. In 2010, South African banks made a withdrawal of all R200 banknotes from the 1990 series because of the high circulation of counterfeit notes.

A rand was valued at more than 1 US dollar when it was first issued back in 1961. In 1982 political pressure and sanctions placed against the country because of apartheid started to erode its value. Today 1 USD is equivalent to 7.06 ZAR at current rating.

The flag of Belize serves as a constant reminder to the people that unity among them is fulfilled. The colors red, blue and white are representatives of the two major political parties of the country – the People’s United Party and the United Democratic Party. It means that the people are unified regardless of their political affiliations. It was officially adopted on September 21, 1981 after it gained its independence from the United Kingdom.

The flag of Belize is composed of a royal blue background with two red horizontal stripes. In the middle of it is a white disc with the country’s coat of arms. Symbols in the coat of arms include 50 olive leaves, a mahogany tree, two woodcutters with different complexions and implements, a shield depicting the tools used for the mahogany trade and a merchant ship with the British ensign, and a flowing scroll inscribed with the country’s motto.

The 50 olive leaves represent the year 1950, when the country of Belize, which was then known as British Honduras, started its quest for independence from Britain. The mahogany tree on the other hand depicts the country’s economical backbone. The two woodcutters have different complexions and carrying different tools each. The mulatto man is carrying an axe, which symbolizes the mahogany trade, and the black man is carrying an oar paddle that depicts the history of the woodcutters, of how they traveled by river to find the best logs. Furthermore, all the tools depicted on the shield and merchant ship indicate the importance of the mahogany trade to the country and its people.

The most interesting symbol in all of the ones represented in the flag of Belize is the motto inscribed in the blue scroll – “Sub Umbra Floreo”. This motto literally means “Under the shadow we flourish”. It means that even if they lived under the shadow of a conquering giant, the country still managed to flourish and progress.

The strategies of leading a country change as population grows in size and in mind. China has been a leading reformist nation, with the “Great Leap Forward” as a notable reference. Thought the path that they’ve taken in order to achieve their current status raises debates in parts of the world, the government sees the improvements as another opportunity for further growth

The Chinese yuan (CNY) is the generic term for several Chinese currencies. It is similar to the more popular generic “dollar”. Renminbi (RMB) on the other hand, is the official currency unit of the People’s Republic of China (Mainland China). This is like the “US dollar”, or the “Australian dollar”. No need to further complicate the terms as they are only that: terms.

The yuan banknote denominations are 1, 2, 5, 10, 20, 50, and 100. In 1949, with the Communist Party of China in power, higher denominations were also introduced, namely 500, 1000, 5000, 10000, 50000, 100000, 500000, 1 million, and 5 million yuan. Smaller units are the jiao and fen. One yuan is composed of 10 jiao, and 1 jiao is equal to 10 fen. The symbol used for a yuan is the same as the symbols used in the Japanese yen and the Korean won, i.e. ¥. The jiao has 1, 2, and 5 coin denominations, as with the fen, but the latter is not in circulation. The current exchange rate is 6.5 CNY per 1 USD.

The PRC government is strict when it comes to currency exchange. The Chinese yuan is not freely convertible, particularly in South East Asia, with the exception of Singaporean dollar. US dollars, Japanese yen, and other dollar based countries are allowed transactions. These led to vast counterfeiting activities and black market businesses.

Mao Zedong, undeniably, is a hero and great teacher for the Chinese Reformists. Aside from the statues created for him, his image was also printed on China’s bills. His principles had made China a giant in economic aspects. The government also shows no sign of holding back. While there’s still room for improvement, modern China will be there.

Kimchi: a side dish made from cabbages, daikon, and a number of spices
Photo by: Angie Chang, Creative Commons

Korea is a country known for its rich cultural and historical heritage. Rarely does one hear of a country that has managed to preserve its root traditions and has successfully passed them down from generation to generation. Though beset with internal conflict, Korea has still managed to retain its long standing culinary traditions with few influences from other countries. In fact, Koreans can proudly say that their cuisine is distinctly their own and even include it as part of their national identity.

With very little outside influence, Korean cuisine has evolved from the dishes and techniques of the common populace as well as from that of the royal palace. This can be seen in the choice of ingredients, the method of preparation, and on how the dishes are served. Royal palace foods are known to be very elaborate and carefully prepared by women who are trained specifically for the task. There are different palace positions solely reserved for overseeing the different aspects of food procurement and preparation. The cuisines are varied and do not reflect seasonal changes, unlike those eaten by the peasants. Each of the cuisines of the eight provinces is represented in the meal, making for a huge feast. This grandiosity contrasts with the common man’s food, typically consisting of steamed rice, kimchi, and fish.

But whatever the differences are in royal and common food they share the basic characteristics of the abundant use of spices, the application of the process of fermentation, and the inclusion of a wide variety of side dishes. Spices are in the form of red peppers, garlic, onion, and a number of spice pastes that Koreans prepare themselves. Fermentation is a common process involved in food preparation especially in Korea’s popular side dish, kimchi, which is a common side dish made from cabbages, daikon, and a number of spices. The process of fermentation gives food a distinct taste and packs in nutrients that would otherwise be absent. This interplay of taste and nutrition can be best seen in the kimchi. Kimchi is a national dish and has also grown popular outside the country.