Most popular traded currencies in the world
Not all currencies are created equal, at least not in terms of how they are publicly traded. Many of the top traded currencies would most popular traded currencies in the world come as a surprise, but some might. While this changes over time, most agree on at least the top few. At number twelve on the scale is the Russian Ruble. While the unrest in the Most popular traded currencies in the world at the current time has devalued this currency slightly, it is still fairly high on the list of currencies that are publicly traded.
The Ruble is a perfect example of how the value of a currency can crumble, as recent sanctions by the United States and the European Union have caused just that to happen to the Ruble. Once the country becomes more stable in the minds of the rest of the world, its currency will again hold more value.
The most popular traded currencies in the world eleven most traded currency is the Swedish Krona. In September, it was reported that this highly traded currency reached its lowest level again the United States dollar since The reason behind this was an election that left the country with a hung parliament. This may bring about more speculation about whether Sweden should join the Eruozone and adopt the Euro as currency, but many say that would be too drastic a measure. Some rank the New Zealand Dollar at number ten.
The most popular currency exchange rate for the New Zealand Dollar, it should come as no surprise, is to the Australian Dollar. It is interesting to note about this currency that no coins under the five cent value have been issued since All cash transactions are rounded with this currency.
It is easy to see why it is listed in the top then with most popular traded currencies in the world being the case.
The number nine traded currency in the world would be the Chinese Yuan. The most popular exchange rate is to the Most popular traded currencies in the world. It is formally known as the Yuan Renminbi in many circles. Now, however, it is set at the value of a basket of foreign currencies.
Now, rather than converting to a U. The Mexican Peso holds the number eight place in the list of the most traded currencies. Last month it was reported that the Peso had climbed in value the most since June of this year. With policy makers expected to raise borrowing costs next year, this currency should continue to become more attractive to investors. Policy makers also unexpectedly lowered the borrowing cost a half percentage point in June of this year.
This currency will continue to be one to watch, by most accounts. Our neighbors to the north hold most popular traded currencies in the world number seven spot with the Canadian Dollar. The most popular exchange rate is against the U. This currency is known by many as a commodity currency as the country has a significant amount of exports of raw materials. It is also held as a reserve currency by many central banks. This ties its exchange rate, at least in part, to the global picture of commodities trading.
Canada exports oil, the trading and values of which have shown an interesting face in the past few years. This could cause issues with the value of the currency in the short term. The Swiss Franc occupies the sixth spot on the list. The most popular exchange rate for this currency is against the Euro.
During times of financial instability, this currency is often one that is purchased. It is seen as a safe have against undue fluctuations. In fact, the Swiss Franc is often used as a global reserve currency, speaking to that measure of safety. This currency is deemed as relatively safe and one to which some investors may turn in times of trouble. Number five on the most traded currencies enjoys over 7.
That currency is the Australian Dollar. With this being said, it is easy to see how this currency is heavily affected by Asian import markets such as China. It is also used in carry trades, where a currency with a lower interest rate is sold in order to buy a currency with a higher interest rate, with currencies such as the Japanese Yen. Pound Sterling is no surprise at the number four currency on the daily trading block. This currency is also the oldest still in use today, thus allowing it to be one of the most commonly converted currencies.
The Japanese Yen takes the third spot on the list. The Bank of Japan Act of was revised several times to reach the current and modern status since to reflect the current banking principals of transparency and independence from fiscal authority. In terms of nominal GDP, Japan has the third largest economy, which makes its place in the currency exchange easy to understand. This is also known as one of the most innovative countries in the world, making the Japanese Yen an even more attractive currency.
The Euro is the second most traded currencies on the market. Thirty nine percent of currency transactions today are accounted for by the Euro, and it is not difficult to understand why. With many of the European economies tied to this particular currency, it makes sense that it would be one of the most widely traded on a daily basis. By pooling their monetary efforts, European counties have been able to avoid the volatility in currency that is experienced by those countries who are only relying upon themselves.
Any particular upheaval or uncertainty is not apt to send this currency too far to one direction or the other on the trading market. By far the most widely traded currency is that of the United States Dollar. This currency is most often traded with or compared to the Euro which makes sense, even to the most novice investor.
While this currency fluctuates a bit with some uncertainties and an eye on trade, it is one of the more stable currencies in certain, given economic situations.
That lends itself to the high percentage of trading. This currency is held by almost every central bank in the world, making it the still most popular traded currencies in the world dominant global reserve currency. While the top currencies may be fairly stable, any change in the global economy can affect their trading value. As nations change and emerge, there are great opportunities for trading of currencies in the world. There are also great pitfalls which investors would wish to avoid.
With every country in the world being more interconnected than ever, those opportunities and threats may not be as easy to see as they once were. Careful investors, however, can still do well on the currencies market. Top 12 Traded Currencies.
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