The Origins Of Common Currency Symbols

Forex world has got new big news this month as Indian currency that is the rupee got a symbol. As soon as I got this news, I start wondering that from where these symbols come. In this article, I am going to talk about major currency symbols with their origination.

The “Greenback”
The history of US dollar links itself from the Spain. It all started in 1785 where US started using its own currency in all business operations just like Spain. After that, many people gave their own theory regarding the $ sign, but according to some experts this sign was originated from the word “peso.” Peso used to be written as “ps” which later transformed in to “s.”
Although the euro is the youngest currency in my list, still it took a very large amount of time to come into the picture. In 2002, the euro came into the existence in the member countries. However, the origination of this currency is linked with the 1991 treaty of Masstricht. As far as the symbol of euro is concerned, a designer contest was introduced and a symbol from a winner participants was taken by the European commission. According to the report of EU commission, this symbol is originated from the Greek symbol epsilon.

The British Pound
Although the euro zone includes the great Brittan but still the pound exists. The origination of the pound symbols is linked with Libra sign that means a scale. There are lots of theories surrounding about the origination of the term “pound sterling” but most experts agree that there is a huge connection between silver and weight.

The Japanese Yen
In 1871, the government of Japan officially adopted the Yen. Just like the pound, the yen’s history also links itself with the silver. In the beginning, one yen was equal to the 24.26 grams of silver. However, in the modern age aluminum is used to make yen coins.
The Swedish Krona
In Swedish local language, the Krona means “crown.” In 1873, the Swedish government introduced krona as its official currency. The currency symbol that is being used for the krona is “kr.” Earlier one krona was equal to the 2480 kg of gold. After that krona is consisted of several metals like iron, tin, copper, and silver. There are reports that in near future Sweden would adopt the euro currency.
The Australian Dollar
Like the euro, Australian solar is a fresh currency. In 1966, it came into the existence after being converted from the pound. At that time, there were lots of suggested names for this new currency like “kanga” and “boomer.” Prime minister of the country wanted to recognize this currency as “royal” but unfortunately, it didn’t happen.
Some people say it’s just money that makes the world go around you, but I would say it depends upon where you live. Although it’s impossible for a currency to remain stable, but usually it has the convention of staying put.