General Awareness · Banking Financial Awareness

Currencies and Exchange Rates

1,480 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

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).

Multiple choice

Which of the following is called paper gold?

  1. Euro dollars

  2. Special drawing rights

  3. Global depository receipts

  4. Petro dollars

  5. None of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Special drawing rights (SDRs) are supplementary foreign exchange reserve assets defined and maintained by the International Monetary Fund (IMF). Not a currency, SDRs instead represent a claim to currency held by IMF member countries for which they may be exchanged.

Multiple choice

The currency of Indonesia is

  1. Rupiah

  2. Dollar

  3. Lira

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

Indonesia's official currency is the Rupiah (abbreviated as IDR). The Dollar, Lira, and Rupee are currencies of different countries - USA (and others), Turkey, and India respectively. Indonesia has used Rupiah since independence.