In primitive days during the barter system it was observed goods were medium of exchange, but civilization called for specific unit of exchange thus Currencies evolved. It can take the shape of paper, polymer bank notes or coins. Generally countries have monopoly over printing currencies for exclusive domain use but some countries but some share currencies. It represents any country’s physical aspect of money supply. Generally notes & coins issued by Central Bank are regarded as legal means of exchange.
Looking back at the evolvement earlier metal coins was used with symbols of stored value of any commodity. But this system collapsed during the Bronze Age. This gradually called for replacement of ‘stored value’ use by new unit of account. Once upon a time, gold coins were used for larger military purchases & supporting state activities. Song Dynasty in China first circulated notes among its traders. A graphic symbol is used as a sign of a currency for currency’s name, amount of money & any symbol to represent the country. To name a few symbols of Currencies there are dollar, euro, pound, yen etc. symbols today.
By 1900 all the developing nations followed the Gold Standard & notes along with silver coins formed the currencies. In earlier days private paper currency was used but with the emergence of fiat Currencies issued by government the former was barred. Currency can be fixed or floating according to the exchange rate. Generally Central Bank has the authority to produce & circulate currency. Today all the possible information about currencies along with conversion rates are readily available online. Currency of a developed country influences currencies of developing countries. Once, the US Dollar used to rule the currency market. Technological advancements & possession of rich natural resources are linked in this regard. Looking at Asian currency market in this volatile circumstances a fall being observed. The recent sudden recessional trend in World share market is leaving an impact. Hand by hand the Gold Prices are also shooting up. Long back currency conversion is an accepted trade to be authorized by the respective government. This falling tendency in current currency market sometimes has given away to the practice gold buying & exchanging. The ten most internationally liquid currencies are known as the G-10 currencies. Considering recent share market drops the world currency market may well exhibit a retreat behavior. But market is gradually getting over the falling trend.