World currencies and their origins - II

17 May 2016  Tue

And we are back with a few more of currencies and their possible meanings and origins!

TAKA (Bangladesh): The word "taka" is derived from the Sanskrit "tanka" which was an ancient denomination of silver coin. The word taka in Bangla is also commonly used generically to mean any money, currency, or notes. The “Indian rupee” is also called as “taka” in North India especially in the states of West Bengal and Tripura.

YUAN (China) - Chinese currency is officially called as “Renminbi” and the popular Chinese “Yaun” is its basic unit. ‘Yuan’ means "round" and describes the shape of a coin. (For information on Renminbi and Yuan click here).

YEN (Japan): The word Yen is borrowed from the Chinese Yuan, which means "round", and describes the shape of a coin. It first issued in 1870. Today it is the third most traded currency in the foreign exchange market after the United States dollar and the euro. It also the most widely used reverse currency after the US dollar, the euro and the pound sterling.

RIYAL (Saudi Arabia) – The word riyal borrows its name from the Spanish real, meaning "royal". The riyal has been the currency of Saudi Arabia even before since the country came into being. Riyal has been one of the primary currencies in the Mediterranean region even during the Ottoman era. Riyal is now the basic monetary unit of Saudi Arabia, Qatar, and Yemen.

ROUBLE (Russia, Belarus etc.) – There are many etymological derivations of the word “rouble”. According to one, the word rouble is derived from a Russian verb “rubit” meaning a "cut-off", a term that dates back to the days when portions of silver bars were literally cut-off from the bars and used as coins. The rouble was first issued as a silver piece in 1704.

There are many more! To read the previous article click here

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