9 Oldest Currencies Still Used Around the World

The name “yen” translates to “round object” due to the perfectly round shapes of the Japanese coins. The banknotes are one of the most challenging bills to forge because the holograms, watermarks, and special ink raise the surface to the touch, making printing or copying difficult. Aside from being one of the oldest currencies in the world, the yen is the world’s third-most traded currency, coming in after the U.S. dollar and the euro. With a history dating back to 1858, the official currency of Canada is the Canadian dollar, which replaced the previously used Canadian pound. Also known as the loonie, the Canadian dollars are minted at the Royal Canadian Mint.

• This list highlights how some of the world’s oldest currencies have successfully adapted and persisted through centuries of change, wars, and economic shifts.
• Throughout history, several ancient currencies have endured the test of time, remaining in circulation in various forms.
• The polymer notes are more durable, stay cleaner for longer and are harder to fake, but have also caused some controversy as they contain a product derived from animal fat.
• This practical origin reflects Russia’s pragmatic approach to monetary systems.

After introducing different denominations, Russia made one ruble worth 1,000 old rubles in 1998. Haitian gourde had a few revaluations, the first in 1870 with the introduction of new G10 and G25 denominations. The second was in 1870, when the gourde was linked to the French franc for an easier valuation. The official currency of the Republic of Haiti is goud or gourde, a French word that means “hard pieces of eight,” a cognate to the Spanish term “gordo” for something fat. The Dominican peso has been an official currency of the Dominican Republic since 2011, but it was introduced in 1844 when the Dominican Republic took back its sovereignty from Haiti.

The Swiss Franc: A Currency Rooted in Historical Financial Stability

A small number were produced that year because there were already plenty around. In fact, it’s estimated that there were only seven coins produced that year and, due to tradition, three of them were buried in the foundation stones of buildings erected in 1933. More recently, the London 2012 Olympics 50p coins proved to be popular among collectors. More than 70% of them have been taken out of circulation, estimates the Royal Mint.

Haitian Gourde (HTG)

The region’s long-standing reputation for stability and financial prudence has helped the franc remain a trusted currency through turbulent times, including both World Wars and economic crises. Its history dates back over 4,000 years, with early forms of standardized coinage used during the Mahajanapada period around 6th Century BCE. forex backtesting software The modern rupee was adopted as a unified currency in the early 19th century under British rule, inspired by Indian and international monetary traditions. Today, the Indian rupee symbolizes a thriving economy and a continuity of ancient trade practices. China’s currency, the Renminbi (RMB), with its unit called the yuan, has roots stretching back to ancient Chinese coinage. The earliest forms were spade and knife money used during the Zhou Dynasty over 2,000 years ago.

Arguably, the pound may outlast the euro, as Europe has seen many recent political instabilities (such as Brexit) that has threatened to potentially tear the eurozone single currency apart. Read on to discover which is the world’s oldest currency still in use and how it can be traded across the world, as part of a currency pair, forex index or Short Sterling contract. Next up, is a pretty well-known currency used widely around the world, that is the United States Dollar.

Serbian dinar, the official currency of a Balkan state Serbia, has been in circulation since the reign of the king Stefan Nemanjić in 1214 as a Medieval dinar. The first modern dinar came after the Ottoman conquest when Prince Miloš Obrenović pushed for the first coins to be minted in 1868. The highest denomination that has ever been printed on the US dollar was $10,000, but this banknote is rare in circulation as most are in museums. Banknotes have always had the United States presidents on the face of the dollar bills, and the only woman ever depicted was Martha Washington, the former First Lady. Today, the US dollar is one of the most important currencies in international trade, as the United States had 2.10 trillion dollars in circulation in 2021. The $1 bill represents 45% of the entire currency production, and it has 13 arrows, 13 stars, 13 leaves, and 13 stripes as a symbol of the 13 colonies.

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• Japan’s currency survived the country’s transition from feudalism to modernization, devastating earthquakes, World War II, and rapid economic growth during the post-war period.
• More recently, the London 2012 Olympics 50p coins proved to be popular among collectors.
• Though Serbia has faced numerous challenges, from invasions to economic turmoil, the so-called “din” has demonstrated resilience and continues to be a relevant currency in the country.
• Since 2011, millions of people have used Remitly to send money with peace of mind.

Today, the euro acts as Portugal’s currency, but the escudo remains a symbol of national heritage. Throughout history, several ancient currencies have endured the test of time, remaining in circulation in various forms. Their longevity offers a glimpse into the economic past and highlights how deeply some monetary systems are embedded in a nation’s identity. Known as one of the pioneers of currency, China’s early forms of currency dated back to thousand years ago.

Swiss Franc

The modern yuan (renminbi) represents the latest evolution of this ancient financial tradition. The British pound is used only as a national currency in the United Kingdom and South Georgia and South Sandwich Islands. Other countries to use a version of the pound sterling include Gibraltar, Falkland Islands, and St. Helena.

British Pound

Since 2011, millions of people have used Remitly to send money with peace of mind. However, currencies that have survived for centuries have demonstrated resilience and adaptability that can contribute to ongoing stability. The Russian ruble has one of the most tumultuous histories among surviving currencies. First mentioned in the 13th century, the ruble has endured the Mongol invasion, the Russian Empire, the Soviet Union, and the modern Russian Federation. The British Pound Sterling holds the distinction of being the world’s oldest currency still in active use.

How do these old currencies adapt to modern technology?

These currencies continue evolving with modern financial technology while preserving the stability and trust that enabled their longevity. Their stories offer valuable lessons about monetary policy, economic management, and the importance of institutional strength in maintaining public confidence. The franc emerged from the need to standardize Switzerland’s complex monetary system, which previously featured numerous regional currencies. The Swiss Federal Constitution of 1848 gave the federal government exclusive right to issue money, leading to the creation of a unified national currency. The Bank of Japan, established in 1882, has played a crucial role in maintaining the yen’s stability and international credibility. Today, the yen serves as one of the world’s primary reserve currencies and remains a symbol of Japan’s economic strength.

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Understanding the history of ancient currencies around the globe helps us gain valuable insights on how money evolves to meet the needs of constantly changing economies and society. Currency is more than just a medium of exchange, but rather a reflection of one country’s development and history. The British Pound Sterling is one of the prime examples of a currency that thrives due to its economy and governmental stability. The pound’s stability is boosted by the Bank’s control over banknote issuance and its floating currency policy since 1971, allowing market forces to set its value. It was reintroduced in 1960 as a replacement for the Moroccan franc that existed when Morocco became a French Protectorate in 1912.

The Soviet ruble operated under a completely different framework than the imperial ruble, yet maintained continuity of name and basic function. Throughout its long history, the pound has survived the Norman Conquest, the Industrial Revolution, two world wars, and the transition from the gold standard to fiat currency. The Bank of England, established in 1694, helped stabilize the currency and establish London as a global financial center.

The U.S Dollar—originally modeled after the Spanish Dollar—was commonly used across America in the 16th to 19th century. Interesting enough, the names and values of franc often originated from the places where they were minted. For instance, the word “franc” originated from “Francorvm Rex”—the French King’s title, and “thaler” that inspired the word “dollar”, was named after the silver-rich region of Sankt Joachimsthal. Peso is available in denominations of $1, 5, 10, 25, 50, 100, 200, 500, 1,000, and 2,000.