The importance of currency is known to an individual when he or she plans to travel abroad and needs exchange for the currency. It is then that the names of the world currencies sound valuable. Ever wondered how each of these currencies got its name and what it literally means?
If you looking to know the basics of world economics, you need to know about them from the scratch. Let us see how each of the world currency got its name.
Dollar, one of the most valuable world currency, was derived from the root word “thaler”. Thaler was derived from the word “joachimsthaler” which was used to refer to the silver coins minted from the silver obtained from Joachim’s Valley (now a part of Czech Republic).
The Indian currency Rupee was introduced by Sher Shah Suri in 1540 AD. Scholars derived the word Rupee from the term Rupiya as the coins in that era were made of silver or Rupaa.
Pound originated from the Latin word “poundus” meaning “weight”. Going bit deeper, the name is derived from the Latin word Libra which means weight or balance, via the construction Libra Pondo. This meant a pound weight. Later Libra was discarded and only Pound was accepted, hence the symbol £ symbol, an ornate L for Libra.