On Jan 1st 1999 a new currency was officially born: the Euro. It was the result of the efforts of most members of the European Union aiming to create a single currency to foster growth in the area, be strong against market storms and cut down on banking costs. That day the exchange rate with respect to the 11 initial participating currencies was set in stone and the European Central Bank took control. For three years the Euro remained something untangible, but on Jan 1st 2002 actual coins and notes were circulated and the now obsolete national money retired. Read the rest of this entry »
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So far the US Dollar has been the undisputed king of the currencies. A $100 bill worked like a passport in many countries of the world and dollars were used as the mandatory currency for international transactions in some markets. At the same time, when foreigners had to go the the States they always had to exchange their money because – Canadian and Mexican borders excepted – nobody would accept foreign money in American shops. Read the rest of this entry »
