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At Young Americans, we teach about all kind of financial topics: saving, needs vs. wants, entrepreneurship, what it takes to run a business, and more! This month we are focusing on foreign currencies. We want to introduce the importance of global money and why it’s different all around the world.
Currency by Country
Money is so important because nearly everyone in the world uses it. Through the International Towne program at Young Americans, students learn about where money comes from and which countries use various currencies. But, you don’t have to attend International Towne to test your knowledge on currencies. Try out this fun game to match currencies to their countries.
Different country, Different money
Why doesn’t everyone in the world use the same money? Why does China use the yen, America use the dollar and Europe use the euro? One reason is that every region and country has a story to tell, and through their coins and dollar bills, they tell their region’s country’s story. Read some of these stories of why each country uses the money it does.
Money hasn’t always been around in its current form, but exchange and bartering has always existed. Many believe the first form of money was made by an ancient tribe in the Middle East called the Sumerians. Money was invented for a few reasons:
- Money creates a set value for an object
- It’s easier to carry money than it is to carry larger objects to trade (horses, chickens, even gold)
Since the invention of money, the trade of valuables and our daily lives has been easier. Learn more about why money was invented by reading here. You’ll also learn more about how the world is connected. Because, without these little circular things that jingle in our pockets, we wouldn’t have phones that are built in China, or coffee from Brazil, or oil from the Middle East. Coins and dollar bills bring the world together in the most valuable way.