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

Name the Currency of United Arab Emirates?

  1. Dirham

  2. Rupee

  3. Won

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

The official currency of the United Arab Emirates is the UAE Dirham. The Rupee is used in India, Won in Korea, and Tenge in Kazakhstan.

Multiple choice

Special Drawing Rights (SDR) which is a currency of International Monetary Fund is

  1. Paper currency

  2. Gold currency

  3. Silver currency

  4. Special Metal currency

  5. Book keeping entry only
Reveal answer Fill a bubble to check yourself
E Correct answer
Explanation

Special Drawing Rights (SDR) are an international reserve asset created by the IMF. They are not physical currency but rather a potential claim on the freely usable currencies of IMF members, functioning as a bookkeeping entry.

Multiple choice

Many times we read in newspapers that the Rupee is appreciating. When we consider the rupee-dollar exchange rate in the light of Purchasing Power Parity (PPP) we think that the exchange rate of the two currencies should be�

  1. Equal to the ratio of price levels in the two countries

  2. Not be equal to the ratio of price levels in the two countries

  3. Decided on the basis of the value of the third major currency i.e. Euro or Yen

  4. Necessarily be different for both the currencies as the economies of both of them are driven on two different sets of variables and it has no relation with PPP

  5. None of these
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Purchasing Power Parity (PPP) theory states that the exchange rate between two currencies should be equal to the ratio of the price levels of the two countries, effectively equalizing the purchasing power of the currencies.

Multiple choice

Currency of Japan is

  1. yen

  2. rand

  3. lira

  4. pound

  5. None of these
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The yen is the official currency of Japan. It is one of the most traded currencies in the global foreign exchange market.

Multiple choice

Which of the following is known as “ Paper Gold”?

  1. ADR

  2. GDR

  3. SDR

  4. EURO
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Special Drawing Rights (SDRs), issued by the International Monetary Fund (IMF), are often referred to as 'Paper Gold' because they serve as a supplementary international reserve asset.

Multiple choice

Riyal is the currency of

  1. Romania

  2. Saudi Arabia

  3. Japan

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

The riyal is the official currency of several countries, most notably Saudi Arabia.

Multiple choice

The currency used in China is

  1. Lira

  2. Yuan

  3. Ruble

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

The official currency of the People's Republic of China is the Renminbi, and its primary unit is the Yuan.