12 most popularly traded currencies in the world
Careful investors, however, can still do well on the currencies market. 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 currency is the Australian Dollar. 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.
All cash transactions are rounded with this currency. Pound Sterling is no surprise at the number four currency on the daily trading block. This currency is known by many as a commodity currency as the country has a significant amount of exports of raw materials. Number five on the most traded currencies enjoys over 7.
This currency is also the oldest still in use today, thus allowing it to be one of the most commonly converted currencies. Thirty nine percent of currency transactions today are accounted for by the Euro, and it is not difficult to understand why. The number eleven most traded currency is the Swedish Krona.
The most popular currency exchange rate for the New Zealand Dollar, it should come as no surprise, is to the Australian Dollar. Some rank the New Zealand Dollar at number ten. By far the most widely traded currency is that of the United States Dollar. This currency is known by many as a commodity currency as the country has a significant amount of exports of raw materials.
Our neighbors to the north hold the number seven spot with the Canadian Dollar. It is interesting to note about this currency that no coins under the five cent value have been issued since With policy makers expected to raise borrowing costs next year, this currency should continue to become more attractive to investors. Number five on the most traded currencies enjoys over 7. This currency is held by almost every central bank in the world, making it the still the dominant global reserve currency.
This currency is known by many as a commodity currency as the country has a significant amount of exports of raw materials. The most popular exchange rate is against the U. The Mexican Peso holds the number eight place in the list of the most traded currencies. While the top currencies may be fairly stable, any change in the global economy can affect their trading value.
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. The number nine traded currency in the world would be the Chinese Yuan. Many of the top traded currencies would not come as a surprise, but some might.
This is also known as one of the most innovative countries in the world, making the Japanese Yen an even more attractive currency. Some rank the New Zealand Dollar at number ten. The most popular exchange rate is against the U. In fact, the Swiss Franc is often used as a global reserve currency, speaking to that measure of safety. In September, it was reported that this highly traded currency reached its lowest level again the United States dollar since