General Awareness ยท 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
  1. Rupee

  2. Dollar

  3. Shilling

  4. Rupiah

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

Indonesia uses the Rupiah (IDR) as its official currency. Rupee is used in India, Pakistan, and Sri Lanka; Dollar is used by the US, Australia, and others; Shilling is used in Kenya, Tanzania, and Uganda. Rupiah is specific to Indonesia.

Multiple choice
  1. Electronic money

  2. Virtual economy

  3. Alternative currency

  4. Private currency

  5. Complementary currency

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

A virtual economy (or sometimes synthetic economy) is an emergent economy existing in a virtual persistent world, usually exchanging virtual goods in the context of an Internet game. People enter these virtual economies for recreation and entertainment rather than necessity,

Multiple choice
  1. Dinar

  2. Shekel

  3. Dong

  4. Kwacha

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

The Israeli new shekel (ILS) is the official currency of Israel. It is divided into 100 agorot. The shekel replaced the old Israeli shekel in 1986 at a ratio of 1000:1 due to hyperinflation. The currency is issued by the Bank of Israel and is used throughout Israel and the Palestinian territories.

Multiple choice
  1. issued in the European market

  2. issued in Euro Currency

  3. issued in a country other than the country of the currency of the Bond

  4. all of the above

  5. none of these

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

A Eurobond is defined by where it is issued, not the currency. It is a bond issued in a country other than the country whose currency it is denominated in. For example, a dollar-denominated bond issued in London or a yen-denominated bond issued in France. The term comes from the historical Eurocurrency market, not from Europe or the Euro currency.

Multiple choice
  1. currency risk

  2. interest rate risk

  3. currency and interest rate risk

  4. cash flows in different currencies

  5. all of the above

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

A currency swap is an agreement to exchange principal and interest payments in one currency for principal and interest payments in another currency. It is primarily used to manage cash flows in different currencies, though it also helps manage currency risk. Options A and B are incomplete, while option C is partially correct but option D most accurately captures the primary purpose.

Multiple choice
  1. Deposit

  2. Debenture

  3. Depository

  4. Dollar

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

GDR stands for Global Depository Receipt, which represents shares of a foreign stock held by a bank. The 'D' specifically stands for 'Depositary' or 'Depository' referring to the bank that holds the underlying shares and issues the receipts, though 'Deposit' is commonly used in some contexts.

Multiple choice
  1. A name of a corporate giant in Holland

  2. A proposed single European currency

  3. A sub -organization of European Union

  4. A bank rate among constituents of Europeans Union.

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

The Euro was established as the official single currency for the European Union, introduced to facilitate trade and economic integration among member nations. It replaced national currencies like the German Mark and French Franc, creating a unified monetary system across Eurozone countries.

Multiple choice
  1. Yen

  2. Rupee

  3. Yuan

  4. Euro

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

Yen is the official currency of Japan. The question has a grammatical error with an unnecessary blank space before 'is', but the factual answer about Japanese currency is correct.