The Currencies of Asia’s Leading Economies
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The Currencies of Asia’s Leading Economies

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This slideshow provides a quick reference guide to the currencies used in Asia’s top five economies according to their Gross Domestic Product (GDP).

This slideshow provides a quick reference guide to the currencies used in Asia’s top five economies according to their Gross Domestic Product (GDP).

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The Currencies of Asia’s Leading Economies The Currencies of Asia’s Leading Economies Presentation Transcript

  • The Currenciesof Asia’sLeadingEconomies© Stuart Mitchell
  • IntroductionThis slideshow provides a quick referenceguide to the currencies used in Asia’s topfive economies according to their GrossDomestic Product (GDP): China Japan India Russia South Korea
  • China Currency: Renminbi Where it is used: Peoples Democratic Republic of China (except Hong Kong and Macua); Mongolia and Burma (unofficially) Main Unit: Yuan Symbol: ¥ Denominations: jiǎo (¥1 = 10 jiǎo) and fēn (¥1 = 100 fēn) Central Bank: Peoples Bank of China £1 sterling = ¥10.239 Legal Tender:  Coins: ¥0.01 to ¥1  Notes: ¥0.1 to ¥2 Other Info: The term Renminbi is translated as ‘the peoples currency’ whilst the term yuan is derived from the Chinese names for a small round coin (see Japanese yen and South Korean won).
  • Japan Currency: Yen Where it is used: Japan Main Unit: Yen Symbol: ¥ Denominations: sen (¥1 = 100 sen) and rin (¥1 = 1,000 rin). Neither have been used since 1953 Central Bank: Bank of Japan £1 sterling = ¥126.115 Legal Tender:  Coins: ¥1 to ¥500  Notes: ¥1,000 to ¥10,000 Other Info: Behind the US dollar and the Euro, the yen is the third most traded international currency. The name Yen is derived from the Chinese names for a small round coin (see Chinese yuan and South Korean won).
  • India Currency: Indian Rupee Where it is used: India; unofficially in parts of Bhutan and Nepal Main Unit: Rupee Symbol: ₹ Denominations: paisa (₹1 = 100 paise) Central Bank: Reserve Bank of India £1 sterling = ₹ 86.693 Legal Tender:  Coins: ₹0.5 (50 paise) to ₹10  Notes: ₹5 to ₹1,000 Other Info: The rupee’s symbol, ₹, was designed and chosen through a competition open to the public and came into use as recently as July 2011.
  • Russia Currency: Ruble Where it is used: Russia; parts of the former USSR such as Abkhazia and South Ossetia Main Unit: Ruble Symbol: TBA Denominations: kopek (1 ruble = 100 kopeks) Central Bank: Bank of Russia £1 sterling = 50.348 rubles Legal Tender:  Coins: 1 kopek to 10 rubles  Notes: 5 to 5,000 rubles Other Info: The ruble currently lacks an official symbol although the Russian authorities are currently trying to decide on one.
  • South Korea Currency: South Korean Won Where it is used: South Korea Main Unit: Won Symbol: ₩ Denominations: jeon (₩1 = 100 jeon). Not in current use. Central Bank: Bank of Korea £1 sterling = ₩1,816.590 Legal Tender:  Coins: ₩10 to ₩500  Notes: ₩1,000 to ₩50,000 Other Info: As mentioned above with the Chinese yuan and the Japanese yen, both the won and the jeon share the common derivation referring to the small silver coins once in use across much of Asia.
  • Useful Links Business Link Foreign Currency Guide Money Research Institute Foreign Currency Guide Wikipedia – Economy of Asia Bloomberg – Asian Currency Trading Asian Investment Funds