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Reserve currency. A reserve currency is a foreign currency that is held in significant quantities by central banks or other monetary authorities as part of their foreign exchange reserves. The reserve currency can be used in international transactions, international investments and all aspects of the global economy.
Foreign exchange reserves, also called Forex reserves, in a strict sense, are foreign-currency deposits held by nationals and monetary authorities.However, in popular usage and in the list below, it also includes gold reserves, special drawing rights (SDRs) and IMF reserve position because this total figure, which is usually more accurately termed as official reserves or international reserves ...
The euro ( symbol: €; currency code: EUR) is the official currency of 20 of the 27 member states of the European Union. This group of states is officially known as the euro area or, more commonly, the eurozone. The euro is divided into 100 euro cents. [6] [7]
The pound sign(£) is the symbolfor the pound unitof sterling– the currencyof the United Kingdomand its associated Crown Dependenciesand British Overseas Territoriesand previously of Great Britainand of the Kingdom of England. The same symbol is used for other currencies called pound, such as the Egyptianand Syrianpounds.
The United States dollar ( symbol: $; currency code: USD; also abbreviated US$ to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the official currency of the United States and several other countries.
When # is after a number, it is read as "pound" or "pounds", meaning the unit of weight. The text "5# bag of flour" would mean "five-pound bag of flour". The abbreviations "lb." and "℔" are used commonly and interchangeably. This usage is rare outside North America, where "lb' or "lbs" is used.
Unified Payments Interface (UPI) Product type Instant inter-bank payment system Owner National Payments Corporation of India Produced by National Payments Corporation of India Country India Introduced 11 April 2016 ; 8 years ago (2016-04-11) Website www.upichalega.com Unified Payments Interface, commonly referred to as UPI, is an Indian instant payment system as well as protocol developed by ...
This exchange value of 97.5 piastres to the pound sterling continued until the early 1960s when Egypt devalued slightly and switched to a peg to the United States dollar, at a rate of E£1 = US$2.3. The Egyptian pound was also used in Anglo-Egyptian Sudan between 1899 and 1956, and Cyrenaica when it was under British occupation and later an ...