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
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Rupee
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Dollar
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Shilling
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Rupiah
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.
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Electronic money
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Virtual economy
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Alternative currency
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Private currency
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Complementary currency
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,
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Bitcoin
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Electronic money
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Scrip
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Chiemgauer
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PPCoin
C
Correct answer
Explanation
A client media player can begin playing the data (such as a movie) before the entire file has been transmitted.
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.
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Shekel
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Rupee
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Dollar
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Kwacha
D
Correct answer
Explanation
The Zambian Kwacha is the official currency of Zambia. It was introduced in 1968 to replace the Zambian pound and has undergone several redenominations since then.
D
Correct answer
Explanation
The Dong is the official currency of Vietnam. It has been the country's currency since 1978 and is issued by the State Bank of Vietnam. One Dong is subdivided into 10 hao, though hao are no longer used.
D
Correct answer
Explanation
The Krona is the official currency of Sweden. It has been Sweden's currency since 1873 and is issued by the Swedish central bank, Sveriges Riksbank, which is the world's oldest central bank.
C
Correct answer
Explanation
The Euro is the official currency of France and is used by 19 of the 27 European Union member states. France adopted the Euro in 2002, replacing the French Franc.
C
Correct answer
Explanation
Cyprus uses the Euro as its official currency, having adopted it in 2008 when it joined the Eurozone. The Cypriot Pound was replaced at a fixed exchange rate.
C
Correct answer
Explanation
Yemen uses the Yemeni Rial (Riyal) as its official currency. Dinar is used by several Middle Eastern and North African countries, Shekel is Israel's currency, and Rupee is used by South Asian countries like India and Pakistan.
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issued in the European market
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issued in Euro Currency
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issued in a country other than the country of the currency of the Bond
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all of the above
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none of these
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.
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currency risk
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interest rate risk
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currency and interest rate risk
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cash flows in different currencies
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all of the above
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.
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Deposit
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Debenture
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Depository
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Dollar
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.
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A name of a corporate giant in Holland
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A proposed single European currency
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A sub -organization of European Union
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A bank rate among constituents of Europeans Union.
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.
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.