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

Multiple choice commercial studies money loans from banks and financial institutions introduction to money - barter system owned fund and borrowed fund

Since money acts as an intermediate in the exchange process, it is called _____.

  1. value for money

  2. exchange value

  3. medium of exchange

  4. none of these
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

1. Money is the medium of exchange in the modern times.
2. It can be used as a unit of account and store of value as well.
3.money acts as an intermediate in the exchange process, it is called a medium of exchange.

Multiple choice commercial studies money loans from banks and financial institutions introduction to money - barter system owned fund and borrowed fund

The currency convertibility concept originated in _____.

  1. wells agreement

  2. Bretton woods agreement

  3. Taylors agreement

  4. none of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The currency convertibility concept was finalized between 1968-1973 in Bretton Woods Agreement. 
The currency convertibility was made available for current account transactions and trade.

Multiple choice commercial applications bases of accounting cash and mercantile system basis of accounting basis of accounting system

If the convertibility of the currency is restricted to certain foreign currency transactions, it is termed as _______________.

  1. Full convertibiltity

  2. Partial convertibility

  3. Current account convertibility

  4. Capital account convertibility

  5. Both (A) and (C) above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Convertibility means that a foreign currency can be converted into domestic currency and vice versa without any restrictions. If the convertibility is restricted to certain foreign currencies transactions and/or people, it is termed as partial convertibiltiy.

Multiple choice commercial studies concept of market and marketer meaning and importance of marketing meaning and definition of market introduction to marketing marketing environment meaning and definition of marketer role of marketing

Currencies of different countries are purchased and sold in.

  1. Money market

  2. Capital market

  3. Foreign exchange market

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

The foreign exchange market (Forex) is the global marketplace for trading national currencies against one another.

Multiple choice

What was the Mughal Empire's currency?

  1. Rupees

  2. Pounds

  3. Kool-Aid

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

The silver coin known as the Rupee (originally introduced by Sher Shah Suri) was adopted and standardized by the Mughal Empire as its primary currency. This system laid the foundation for the modern currencies of India, Pakistan, and Nepal.

Multiple choice

What is the currency of Mozambique?

  1. Mozambican kwacha

  2. Mozambican dollar

  3. Mozambican metical

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

The official currency of Mozambique is the Mozambican metical (MZN), which replaced the escudo in 1980. The name is derived from an Arabic word for a unit of weight.

Multiple choice

Which two Asean nations have currencies that are interchangeable?

  1. Brunei and Malaysia

  2. Cambodia and Myanmar

  3. Cambodia and Laos

  4. Brunei and Singapore
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Brunei and Singapore established a Currency Interchangeability Agreement in 1967. This agreement allows the Brunei dollar and the Singapore dollar to be accepted at par in both countries.

Multiple choice

Cambodia uses the ___________ as its currency.

  1. Riel

  2. Dong

  3. Peso

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

The Cambodian riel is the official currency of Cambodia. The dong is used in Vietnam, the peso in the Philippines, and the baht in Thailand.

Multiple choice

Kip is the currency used by _________________.

  1. Vietnam

  2. Laos

  3. Myanmar

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

The Lao kip is the official currency of Laos, introduced in 1952. Vietnam uses the dong, Myanmar uses the kyat, and Indonesia uses the rupiah.

Multiple choice

What is the currency of Laos called?

  1. Lao Kip

  2. Lao Kan

  3. Loas dollars

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

The official currency of Laos is the Lao Kip, which has been in use since 1952. The other options are fictional names and do not represent any real currency.