Currency

Currency — page 1 — a SenSe Money it makes sense to know about it People use money and think about it every day How much money does this cost Do I have enough money to buy that Should I save my money for something All of the answers to these questions relate to understanding how money works Money Matters Like it or not money matters It matters whether people have a lot of money or just a little How much money people have and how they manage their money both affect the life choices they can make A decision today such as saving money or spending it can affect what they can do months and years from now Money is better than poverty if only for financial reasons Asking yourself What does money let me do can help you develop good money sense Woody Allen film director 4

Currency — page 2 — COOOOO currency Money can be anything that people use to pay for things However when people think of money they usually think of a kind of money called currency which includes only coins and notes The important thing about currency is not the physical coins and notes but how they can be used How Currency is used Currency is money that is used to buy goods and services If a person wants to buy a good such as food or a service such as entry to a movie then he or she can use currency This girl is exchanging currency in return for a drink This works because the buyer and the seller agree that the currency they are using has value A certain amount of currency will transfer ownership of the item or use of the service from one person to another currency turns that agreement into something that can be

Currency — page 3 — Currencies ajor the World Most countries have their own currency The big exception is most countries in the European Union which use a currency called the euro United States The United States U S dollar is the most used currency around the world due to the high level of buying and selling that Americans do European Union The euro is the official currency of the European Union Many countries in Europe use it It was first used in 1999 and it is the second most used currency after the U S dollar China Renminbi is Chinese for people's money The yuan is a unit of money in the Chinese renminbi money system in the A same way that cents A and dollars are part of the U S money system Japan The Japanese yen is the third most traded currency in the world after the U S dollar and the euro It was A first used in 1869 Moore

Currency — page 4 — OO OOOOOO Exchange Rates People cannot use the same currency everywhere When they go to another country they usually have to exchange one currency for another Exchange rates tell them how much one country s currency is worth in relation to another country s currency Exchange rates change daily depending on many things such as how the economy of the country is performing compared to the economies of other countries A T S Australia United Kingdom The name of the British I currency pound sterling S comes from around 775 CE when the Saxons the people living in Britain at the time created silver coins known as sterlings They made 240 of them from 1 pound 454 g of silver Australia uses dollars In 1988 Australia became the first country to issue notes made of polymer instead of paper Canada Like the U S Australia and Hong Kong Canada uses the symbol to represent its dollar New Zealand Before New Zealand changed its currency A to the dollar in 1967 it used pounds and pence Kiwi and e so zeal were also to considered as names GOs for the currency 100

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