This is how the world's currencies got their name

Updated: Mar 20, 2016, 22:45 PM IST
This is how the world's currencies got their name

Zee Media Bureau

New Delhi: The Oxford Dictionary's OxfordWords blog has dug to the root of of the names of the world's currencies. Check out the origin of the different currencies' names:

Rupee

The Sanskrit word for wrought silver is "rupya," which lends its name to the Indian and Pakistani rupee, as well as Indonesia's rupiah.

Dollar

The dollar used in the US, Australia, Canada, Fiji, New Zealand, and Singapore etc.

According to OxfordWords, the Flemish or Low German word "joachimsthal" referred to Joachim's Valley, where silver was once mined. Coins minted from this mine became "joachimsthaler," which was later shortened to "thaler" and which eventually morphed into "dollar."

Peso

"Peso" literally means "weight" in Spanish.

Lira

The Italian and Turkish "lira" come from the Latin word "libra," meaning "pound."

Mark

Before the euro, the Deutsche mark and the Finnish markka also draw their names from units of weight.

Rial

The Latin word "regalis," meaning "royal," is the origin for the Omani and Iranian "rial."

Similarly, Qatar, Saudi Arabia, and Yemen all use a currency called the "riyal." Before the euro, Spain used "reals" as well.

Rand

Like the dollar, South Africa's rand comes from the Dutch name for the South African city Witwatersrand, an area rich in gold.

Chinese yuan, Japanese yen, and Korean won

The Chinese character "圓," meaning "round" or "round coin," is responsible for the name of the Chinese yuan, Japanese yen, and Korean won.

Crown

Many Scandinavian countries use a currency that derives from the Latin word "corona," meaning "crown."

Sweden's krona, Norway's krone, Denmark's krone, Iceland's króna, and the Estonian kroon (now replaced by the euro), and the Czech Republic's koruna all derive from the same Latin root.

Dinar

Jordan, Algeria, Serbia, and Kuwait all call their currency "dinar."

This is a pretty straightforward truncation of the Latin word "denarius," which was a silver coin used in ancient Rome.

Pound

The British pound is derived from the Latin word "poundus" meaning "weight."

Egypt, Lebanon, South Sudan, Sudan, and Syria call their currency pound.

Ruble

Russia's and Belarus' ruble are named after a measure of weight for silver.

Zloty

"Zloty" is the Polish word for "golden."

Forint

The Hungarian forint comes from the Italian word "fiorino," a gold coin from Florence.

The fiorino had a flower, or "fiore" in Italian, stamped on it.

Ringgit

When coins were minted in precious metals, thieves would shave off small portions of the metal to create new coins.

To combat this, countries began minting coins with jagged edges.

The Malaysian word for jagged is "ringgit," the name of the currency.