Oldest Currencies in Circulation Today

The Global Foreign Exchange Market

The global marketplace where currencies are traded between nations is known as the foreign exchange market, or forex (FX). This market is the largest and most liquid in the world, with over $6.6 trillion traded every day. It operates without a centralized location or a single government authority. Some of the most traded currencies include the U.S. dollar, the euro, the Japanese yen, the Australian dollar, and the Swiss franc.

Centuries-Old Currencies

Interestingly, some currencies have been in circulation for centuries. This article highlights the ten oldest currencies that are still traded today, based on information from various online sources and a graphic by Bruno Venditti of Visual Capitalist.

The British Pound: Over 1,200 Years Old

The British pound, also known as the pound sterling, holds the title for the oldest currency still in use. Its origins can be traced back to around 775 AD, during the Anglo-Saxon period, when silver pennies were first minted in what is now England. The pound sterling was officially recognized as the currency of England in the 12th century during the reign of King Henry II. At that time, one pound was equivalent to a pound of silver.

Other Ancient Currencies

Following the British pound, the Serbian dinar and the Russian ruble are the next oldest currencies still in use, both having been introduced in the 13th century. The U.S. dollar, which is the most traded currency in the world, was officially adopted in 1785.

Top Reserve Currencies

For more information on global currencies, you can check out a graphic that displays the world's top reserve currencies as of the first quarter of 2024.

Bottom Line

The existence of currencies that have been in circulation for centuries is a testament to the resilience and adaptability of global economies. It's fascinating to consider how these currencies have evolved and remained relevant over the years. What are your thoughts on these ancient currencies? Do you think they will continue to be in use in the future? Feel free to share this article with your friends and discuss. Don't forget to sign up for the Daily Briefing, which is delivered every day at 6pm.