General Awareness · Banking Financial Awareness

Currencies and Exchange Rates

1,506 Questions

Knowledge of global currencies and exchange rates is vital for general awareness sections in banking and civil service exams. Topics include identifying the official currencies of various countries and understanding digital currency types. Use this collection to quickly memorize international currency symbols.

Country currency identificationDigital currency typesCurrency exchange tipsGlobal currency symbols

Currencies and Exchange Rates Questions

Multiple choice technology packaged enterprise solutions

Price list Contains

  1. Unit Price of the item

  2. Formula

  3. Currency

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

A price list in Oracle Advanced Pricing defines the unit price of items, the currency, and can reference dynamic pricing formulas. Since it contains all of these elements to determine the final list price of products, 'All of the above' is the correct choice.

Multiple choice

Which of the following is treated as artificial currency?

  1. ADR (American Depository Receipt)

  2. GDR (Global Depository Receipt)

  3. SDR (Special Drawing Rights)

  4. Equity Shares
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Special Drawing Rights (SDRs) are international reserve assets created by the IMF to supplement member countries' official reserves. They represent a claim to currency and are not actual currency themselves.

Multiple choice

What is FOREX?

  1. It is defined as buying of a foreign currency.

  2. It is defined as selling of a foreign currency.

  3. It is defined as buying of one currency and selling of another currency at different times.

  4. It is defined as simultaneous buying of one currency and selling of another currency.
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The sale and purchase of two currencies at the same time is known as FOREX.

Multiple choice

Directions: The sentence below has been divided into four parts. One of the parts may have an error of grammar or diction. Select the part having the error.

  1. Continuing its sharp slide, the currency tumbled

  2. 47 units touched a new low of 55.86 against the

  3. US dollar in the late morning trade due to

  4. persistent demand for the American currency
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Error in option (2). 'touch' should be replaced with simple infinitive 'to touch'.

Multiple choice

What is Euro-III?

  1. European Currency

  2. Group of European Countries

  3. European Film Festival

  4. Pollution Control Scale
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Euro-III refers to European emission standards that set limits for exhaust emissions from vehicles. These are regulatory standards designed to control air pollution from motor vehicles. The European Union introduced progressively stricter standards (Euro I, II, III, IV, V, VI) over time to reduce vehicular pollution.

Multiple choice

What is the currency of Pakistan ?

  1. Dollar

  2. Taka

  3. Dinar

  4. Rupee
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Pakistan's currency is the Pakistani Rupee (PKR), issued by the State Bank of Pakistan. Like India, Pakistan uses the Rupee system, though the values and exchange rates differ between the two countries.

Multiple choice

What is the currency of Japan?

  1. Rupee

  2. Franc

  3. Yen

  4. Peseta
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Japan's official currency is the Yen, used throughout the country. The Rupee is used in India and several other South Asian countries, while the Franc was historically used in France and several former French colonies. Peseta was Spain's currency before they adopted the Euro.

Multiple choice

What is the currency of European Union ?

  1. Lira

  2. Euro

  3. Rupiah

  4. Dollar
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The Euro is the official currency of the European Union, used by 19 of the 27 EU member countries. Lira was Italy's currency before Euro, Rupiah is Indonesia's currency, and Dollar is used by the US and several other countries.

Multiple choice

‘Fiat Money’ is that which is

  1. accepted by overseas banks only

  2. decreed as money by the government

  3. backed by gold or silver

  4. accepted temporarily in lieu of gold

  5. None of these.
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

 Option (4) is correct.

Multiple choice

What is the currency of Turkey ?

  1. Lira

  2. Pound

  3. Yen

  4. Euro
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Turkey's official currency is the Turkish Lira (TRY). The Pound is used in the UK and formerly Turkey (until 2000s), the Yen is Japan's currency, and the Euro is used by European Union countries. Turkey has used the Lira for most of its modern history, though it was revalued in 2005.

Multiple choice

Birr is the currency of

  1. Ethiopia

  2. Bhutan

  3. Algeria

  4. Albania

Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The Birr is the official currency of Ethiopia. It has been Ethiopia's monetary unit since 1945, though the name and system have earlier historical roots. The other options: Ngultrum (Bhutan), Dinar (Algeria), and Lek (Albania).