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

Directions: Name the currency of the given country. Japan

  1. Euro

  2. Yean

  3. Dollar

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

Yen is the official currency of Japan. The Japanese yen (JPY) is one of the most traded currencies globally. Euro is European Union currency, Yean is a misspelling, and Dollar is used in the US and several other countries.

Multiple choice

Name the currency of Maldives.

  1. Rufiyaa

  2. Lira

  3. Shilling

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

The Maldivian Rufiyaa is the official currency of the Maldives. Lira is associated with Turkey/Italy, Shilling with East Africa, and Yen with Japan.

Multiple choice

The 'Badla' system is associated with which of the following?

  1. Foreign exchange

  2. Forward trading

  3. Currency exchange

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

The Badla system was a traditional Indian stock market mechanism that allowed for the carry-forward of transactions from one settlement period to the next, essentially facilitating forward trading.

Multiple choice

Legal tender for money includes

  1. current currency notes and coins.

  2. old currency notes and coins.

  3. old and new currency notes and coins.

  4. all of these.
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Only the currency currently in circulation can be taken as legal tender.

Multiple choice

Name the currency of Austria.

  1. Euro

  2. Dollar

  3. Lira

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

Austria adopted the Euro as its official currency on January 1, 1999, replacing the Austrian Schilling. The other options are currencies of different countries.

Multiple choice

The currency of Slovenia is

  1. Lira

  2. Franc

  3. Tolar
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The Tolar was the currency of Slovenia from 1991 until 2007, when it was replaced by the Euro. Lira and Franc were currencies of other European nations.

Multiple choice

What is hard currency?

  1. Indian currency

  2. American currency

  3. English currency

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

Hard currency refers to currency that is widely accepted internationally as a form of payment for goods and services, typically issued by a politically and economically stable country.