Some facts about foreign Exchange

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Currency is the medium to exchange goods and services. It is the money that is in circulation in the form of varieties of notes or coins. There are more than 150 countries in the world and each country use it's own circulation of currency with different value. The most popular currencies in the world are the dollar($), euro(€), pound(£), yen(¥) etc.

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Those who travel from one country to other countries, needs the currencies of that country to buy the goods and enjoy the services. The currency exchange at the Airport even there are many currency exchange offices at which various area.

Even nowadays there are many currency converter which helps you to easily calculate the exact Value of your exchange.
Currency is issued by the government which is known as legal tender. The value of the currency of every country does not remain same and changes every minute at like market in crypto or in stocks. The value of currency is different in different countries.

The world's most-traded currency is the US dollar with about 47% share of global payments and 87% of the forex market's daily turnover. On the second place is the Euro, having about 33% of the daily forex transactions and 28% share of the international bank payments.

Banks may charges heavy fees for foreign and multi-currency accounts. And if you’ve already tried managing multiple accounts in multiple countries. A money services provider, you can easily open multi-currency account in your own country banks, which can help you to send some limited amounts of money(depends on different countries) to different currencies from your same account, to all around the world.

Key facts about currency

• The highest-valued currency in the world is the Kuwaiti Dinar(KWD).

• The world's least valuable currency is considered as Iranian Rial.

• US dollar is most traded currencies in the Foreign Exchange market.

• In the early 20th century, the Indian rupee(inr) was the currency of mang other countries such as Aden, Kuwait, , Uganda, Seychelles, Qatar, Trucial States keny and Mauritius.

• The oldest currency still in use is the British pound, it is 1200 years old.

Till date, I have never travel outside India, I just know how to exchange currency but have never done so. Yes, I have a dream that I can travel to European countries but my biggest dreams, for which I have to really work hard to achieve is that I really wants to attend hive fest which occurs once in a year at different countries, I will try to make it come true.

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