Posts Tagged ‘currency’

The Dollar is…

Sunday, July 5th, 2009

The (U.S.) dollar is the official currency of the United States.

Where do they use the Euro?

Sunday, July 5th, 2009

While the answer may seem obvious – they use the euro in Europe – it’s actually not. They do use it in Europe, but not in all of Europe, and not even in the whole of the European Union. As of 2009, 16 of the 27 EU member countries have adopted the euro as their national currency. It began in 1999 with Belgium, Germany, Ireland, Spain, France, Italy, Luxembourg, the Netherlands, Austria, Portugal, and Finland switching their currencies over. Greece followed suit in 2001, Slovenia in 2007, Cyprus and Malta in 2008, and Slovakia in 2009. Combined, these areas are called the “eurozone.” A country must meet strict criteria in order to qualify for the euro standard. That’s why countries gradually join the eurozone instead of all at once.

329 million people living in these 16 countries use the euro daily. Additionally, some neighbor countries and former colonies use the euro as an unofficial currency as well. For these reasons, the euro has become the second most important international currency just behind the dollar.

The Peso is…

Tuesday, June 23rd, 2009

The peso is the currency of several Central and South American countries (Argentina, Chile, Colombia, Cuba, Dominican Republic, Mexico) and the Philippines, but each country’s peso is its own unique currency with its own value. It’s like how the Canadian dollar and the U.S. dollar share the same name, but they are definitely different currencies.

The Yen is…

Thursday, June 18th, 2009

The Yen (abbreviated JPY, for Japan Yen) is the official currency of Japan and is represented using the symbol ¥.

Currency is…

Tuesday, June 16th, 2009

Currency is any object or set of objects designated as money – usually by the government. Currency must be in public circulation, have a predetermined value, and be exchangeable for other objects, goods, or services.

Actually, I’d Rather You Send Me A Facebook Gift Than A Real One…

Friday, June 12th, 2009

Ever sent or received a gift on Facebook–and enjoyed doing so? Experts say virtual goods and money are all the rage.

  • Virtual currencies and gifts are becoming more and more popular, especially in the gaming community.
  • Some experts say there may be a future where virtual currencies are traded in the same markets as real-world currencies. Right now, there’s even a black market for certain virtual currencies.
  • Joe Seller, a virtual world expert, believes the popularity of virtual goods stems from people wanting to take their online identities more seriously.

Facts & Figures

  • People transfer at least $1 billion into the virtual currencies each year, most of that going into online games.
  • WoW Gold, the World of Warcraft currency, is so popular that some low-wage workers in China play the game for a living and then sell their earnings to determined gamers in the West.

Best Quote

“They can’t eat the cake. It’s an image–the thing that it represents. You can send the feeling of that [cake] that you want to send.” – Santiago Martinez, virtual currency user