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
B
Correct answer
Explanation
The Colón was El Salvador's official currency until 2001 when the country adopted the US Dollar. It was named after Christopher Columbus (Colón in Spanish).
A
Correct answer
Explanation
Narrow money refers to the most liquid forms of money that are readily accessible for spending. M1, which includes currency in circulation and demand deposits, is defined as narrow money in monetary economics.
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Reserve currency
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Reserve price
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Registered currency
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Restrictive price
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None of these
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France
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England
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Italy
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Poland
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None of these
E
Correct answer
Explanation
The Deutsche Mark (DM) was the official currency of West Germany and later unified Germany until 2002 when it was replaced by the Euro. France used the French Franc, England used the Pound Sterling, Italy used the Lira, and Poland used the Zloty. Since Germany is not listed among the options, 'None of these' is the correct answer.
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Tea
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Oil cakes
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Fish and fish products
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Spices
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Coffee
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Euro
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Australian Dollar
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US Dollar
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Pound Sterling
D
Correct answer
Explanation
Pound Sterling is the official currency of the United Kingdom. The UK has never adopted the Euro despite being part of the European Union, and uses its own currency system.
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American dollar
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German mark
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British pound
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Euro
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Dollar
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Pound sterling
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Euro
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Yen
C
Correct answer
Explanation
The Euro was adopted as the common currency by 12 European nations in 2002 when physical currency was introduced. These were Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, and Spain. This was a major milestone in European economic integration.
D
Correct answer
Explanation
The Won is the official currency of both South Korea (KRW) and North Korea (KPW). While the question doesn't specify which Korea, option D is the only one that contains a country using Won as its currency. Russia uses the Ruble, Niger uses the West African CFA Franc, and Peru uses the Sol.
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lats
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dollar
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Latvian rupee
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riga
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Lativan riga
A
Correct answer
Explanation
The currency of Latvia is lats.
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European Monetary System
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Euro Monetary System
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European Money System
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None of these
A
Correct answer
Explanation
EMS refers to the European Monetary System, which was introduced in 1979 to coordinate monetary policies among EC member countries. It established the European Currency Unit (ECU) as a precursor to the Euro.
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North Korea
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South Korea
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both a and b
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None of the above
C
Correct answer
Explanation
Both North Korea (Democratic People's Republic of Korea) and South Korea (Republic of Korea) use the won as their currency, though they are different currencies - the North Korean won (KPW) and South Korean won (KRW). They cannot be used interchangeably and have very different values due to the economic separation of the two countries.
B
Correct answer
Explanation
The Mexican Peso (MXN) is the official currency of Mexico. It was the first currency in the world to use the $ sign and is divided into 100 centavos. The Yen is Japan's currency, Rouble is Russia's, and Lira was historically used in Italy and Turkey.