Currency union
Encyclopedia
A currency union is where two or more states
share the same currency
, though without there necessarily having any further integration such as an Economic and Monetary Union
, which has in addition a customs union
and a single market
.
There are three types of currency unions:
The theory of the optimal currency area addresses the question of how to determine what geographical regions should share a currency in order to maximize economic efficiency.
and Economic and monetary union
also has a Currency Union
Zimbabwe this theoretically in currency union with four blocs as it circulates the South African rand, Botswana pula, British pound and US dollar as official currencies.
Additionally the autonomous and dependent
territories, such as some of the EU member state special territories, are sometimes treated as separate customs territory
from their mainland state or have varying arrangements of formal or de-facto customs union
, common market and currency union (or combinations thereof) with the mainland and in regards to third countries trough the trade pact
s signed by the mainland state.
State (polity)
A state is an organized political community, living under a government. States may be sovereign and may enjoy a monopoly on the legal initiation of force and are not dependent on, or subject to any other power or state. Many states are federated states which participate in a federal union...
share the same currency
Currency
In economics, currency refers to a generally accepted medium of exchange. These are usually the coins and banknotes of a particular government, which comprise the physical aspects of a nation's money supply...
, though without there necessarily having any further integration such as an Economic and Monetary Union
Economic and monetary union
An economic and monetary union is a type of trade bloc which is composed of an economic union with a monetary union. It is to be distinguished from a mere monetary union , which does not involve a common market. This is the fifth stage of economic integration...
, which has in addition a customs union
Customs union
A customs union is a type of trade bloc which is composed of a free trade area with a common external tariff. The participant countries set up common external trade policy, but in some cases they use different import quotas...
and a single market
Single market
A single market is a type of trade bloc which is composed of a free trade area with common policies on product regulation, and freedom of movement of the factors of production and of enterprise and services. The goal is that the movement of capital, labour, goods, and services between the members...
.
There are three types of currency unions:
- Informal - unilateral adoption of foreign currency
- Formal - adoption of foreign currency by virtue of bilateral or multilateral agreement with the issuing authority, sometimes supplemented by issue of local currency in currency peg regime
- Formal with common policy - establishment by multiple countries of common monetary policyMonetary policyMonetary policy is the process by which the monetary authority of a country controls the supply of money, often targeting a rate of interest for the purpose of promoting economic growth and stability. The official goals usually include relatively stable prices and low unemployment...
and issuing authority for their common currency
The theory of the optimal currency area addresses the question of how to determine what geographical regions should share a currency in order to maximize economic efficiency.
List of currency unions
Every Customs and monetary unionCustoms and Monetary Union
An customs and monetary union is a type of trade bloc which is composed of a customs union and a currency union. The participant countries have both common external trade policy and share a single currency....
and Economic and monetary union
Economic and monetary union
An economic and monetary union is a type of trade bloc which is composed of an economic union with a monetary union. It is to be distinguished from a mere monetary union , which does not involve a common market. This is the fifth stage of economic integration...
also has a Currency Union
| Currency | Union | Users | Est. | Status | Population | GDP (nominal $) |
|---|---|---|---|---|---|---|
| CFA franc CFA franc The CFA franc is the name of two currencies used in Africa which are guaranteed by the French treasury. The two CFA franc currencies are the West African CFA franc and the Central African CFA franc... |
Issued by Overseas Issuing Institute (France France The French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France... ) |
 Benin Burkina Faso Côte d'Ivoire Guinea-Bissau Mali Niger Senegal Togo Cameroon Central African Republic Chad Republic of the Congo Equatorial Guinea Gabon |
1945 | Formal, common policy | 50,000,000 | |
| CFP franc CFP franc The CFP franc is the currency used in the French overseas collectivities of French Polynesia, New Caledonia and Wallis and Futuna. The initials CFP originally stood for Colonies Françaises du Pacifique... |
Issued by Overseas Issuing Institute (France France The French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France... ) |
 French Polynesia New Caledonia Wallis and Futuna |
1945 | Formal, common policy | 528,000 | |
| East Caribbean dollar East Caribbean dollar The East Caribbean dollar is the currency of eight of the nine members of the Organisation of Eastern Caribbean States... |
Eastern Caribbean Currency Union Eastern Caribbean Currency Union The Eastern Caribbean Currency Union is a development of the Organization of Eastern Caribbean States, this organization is composed of Antigua and Barbuda, Dominica, Grenada, St. Kitts and Nevis, St. Lucia, and St. Vincent and the Grenadines. It is under the supervision of the Eastern Caribbean... of the OECS Organisation of Eastern Caribbean States The Organisation of Eastern Caribbean States , created in 1981, is an inter-governmental organisation dedicated to economic harmonisation and integration, protection of human and legal rights, and the encouragement of good governance between countries and dependencies in the Eastern Caribbean... |
 Anguilla Antigua and Barbuda Dominica Grenada Montserrat Saint Kitts and Nevis Saint Lucia Saint Vincent and the Grenadines |
1965 | Formal, common policy de-facto EMU Economic and monetary union An economic and monetary union is a type of trade bloc which is composed of an economic union with a monetary union. It is to be distinguished from a mere monetary union , which does not involve a common market. This is the fifth stage of economic integration... for CSME CARICOM Single Market and Economy The CARICOM Single Market and Economy, also known as the Caribbean Single Market and Economy , is an integrated development strategy envisioned at the 10th Meeting of the Conference of Heads of Government of the Caribbean Community which took place in July 1989 in Grand Anse, Grenada... members |
625,000 | |
| Euro Euro The euro is the official currency of the eurozone: 17 of the 27 member states of the European Union. It is also the currency used by the Institutions of the European Union. The eurozone consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg,... |
International status and usage of the euro International status and usage of the euro The international status and usage of the euro has grown since its launch in 1999. When the euro formally replaced 12 currencies on 1 January 2002, it inherited their use in territories such as Montenegro and they replaced minor currencies tied to the pre-euro currencies such as in Monaco... |
 Andorra Republic of Kosovo Monaco Kingdom of Montenegro San Marino Vatican City |
1999/2002 | Formal, common policy and EMU Economic and monetary union An economic and monetary union is a type of trade bloc which is composed of an economic union with a monetary union. It is to be distinguished from a mere monetary union , which does not involve a common market. This is the fifth stage of economic integration... for EU members Formal for Monaco and SBAs Akrotiri and Dhekelia The Sovereign Base Areas of Akrotiri and Dhekelia are two British-administered areas comprising a British Overseas Territory on the island of Cyprus administered as Sovereign Base Areas of the United Kingdom... (those form a and de-facto EMU with the Eurozone) Informal for Andorra, Kosovo, Montenegro Formal for the rest |
328,655,062 | |
| Singapore dollar Singapore dollar The Singapore dollar or Dollar is the official currency of Singapore. It is normally abbreviated with the dollar sign $, or alternatively S$ to distinguish it from other dollar-denominated currencies... Brunei dollar Brunei dollar The ringgit Brunei or the Brunei dollar , has been the currency of the Sultanate of Brunei since 1967... |
Managed together by the Monetary Authority of Singapore Monetary Authority of Singapore The Monetary Authority of Singapore is Singapore's central bank and financial regulatory authority... |
 Brunei Singapore |
1967 | Formal; currencies mutually exchangeable | 5,137,000 | 36,438,000,000 |
| Armenian dram Armenian dram The dram is the monetary unit of Armenia and the Nagorno-Karabakh Republic. It is subdivided into 100 luma . The word "dram" translates into English as "money" and is cognate with the Greek drachma... |
 Armenia Nagorno-Karabakh Republic |
1994 | Informal | 3,368,900 | 18,715,000,000 | |
| Australian dollar Australian dollar The Australian dollar is the currency of the Commonwealth of Australia, including Christmas Island, Cocos Islands, and Norfolk Island, as well as the independent Pacific Island states of Kiribati, Nauru and Tuvalu... |
 Australia Kiribati Nauru Tuvalu |
1966 | Informal | 22,557,000 | ||
| Pound sterling Pound sterling The pound sterling , commonly called the pound, is the official currency of the United Kingdom, its Crown Dependencies and the British Overseas Territories of South Georgia and the South Sandwich Islands, British Antarctic Territory and Tristan da Cunha. It is subdivided into 100 pence... |
Sterling area Sterling Area The sterling area came into existence at the outbreak of World War II. It was a wartime emergency measure which involved cooperation in exchange control matters between a group of countries, which at the time were mostly dominions and colonies of the British Empire... |
 United Kingdom |
1939 | Formal, local variants used. | 62,321,000 | |
| Norwegian krone Norwegian krone The krone is the currency of Norway and its dependent territories. The plural form is kroner . It is subdivided into 100 øre. The ISO 4217 code is NOK, although the common local abbreviation is kr. The name translates into English as "crown"... |
 Norway |
Formal | 4,900,000 | |||
| Indian rupee Indian rupee The Indian rupee is the official currency of the Republic of India. The issuance of the currency is controlled by the Reserve Bank of India.... |
 Bhutan India Nepal |
1974 | Informal Nepal minor usage |
1,215,083,000 | ||
| New Zealand dollar New Zealand dollar The New Zealand dollar is the currency of New Zealand. It also circulates in the Cook Islands , Niue, Tokelau, and the Pitcairn Islands. It is divided into 100 cents.... |
 New Zealand Cook Islands Niue Pitcairn Islands |
1967 | Informal | 4,411,000 | ||
| Israeli new sheqel Israeli new sheqel The Israeli New Shekel is the currency of the State of Israel. The shekel is divided into 100 agorot... |
 Israel Palestinian territories |
1927/1986 | Informal | 11,738,000 | ||
| Jordanian dinar Jordanian dinar The dinar is the currency of Jordan. The dinar is divided into 10 dirham, 100 qirsh or 1000 fils.... |
 Jordan Palestinian territories (West BankWest Bank The West Bank ) of the Jordan River is the landlocked geographical eastern part of the Palestinian territories located in Western Asia. To the west, north, and south, the West Bank shares borders with the state of Israel. To the east, across the Jordan River, lies the Hashemite Kingdom of Jordan... only) |
Informal | 8,922,000 | |||
| Russian ruble Russian ruble The ruble or rouble is the currency of the Russian Federation and the two partially recognized republics of Abkhazia and South Ossetia. Formerly, the ruble was also the currency of the Russian Empire and the Soviet Union prior to their breakups. Belarus and Transnistria also use currencies with... |
 Abkhazia Russia South Ossetia |
2008 | Informal | 142,177,000 | ||
| South African rand South African rand The rand is the currency of South Africa. It takes its name from the Witwatersrand , the ridge upon which Johannesburg is built and where most of South Africa's gold deposits were found. The rand has the symbol "R" and is subdivided into 100 cents, symbol "c"... |
Multilateral Monetary Area Common Monetary Area The Common Monetary Area links South Africa, Lesotho and Swaziland into a monetary union. It is allied to the Southern African Customs Union . Namibia automatically became a member upon independence, but withdrew with the introduction of the Namibian dollar in 1993... |
 Lesotho Namibia South Africa Swaziland |
1974 | Formal de-facto customs and monetary union Customs and Monetary Union An customs and monetary union is a type of trade bloc which is composed of a customs union and a currency union. The participant countries have both common external trade policy and share a single currency.... for SACU members |
52,924,669 | 316,936,000,000 |
| Swiss franc Swiss franc The franc is the currency and legal tender of Switzerland and Liechtenstein; it is also legal tender in the Italian exclave Campione d'Italia. Although not formally legal tender in the German exclave Büsingen , it is in wide daily use there... |
 Liechtenstein Switzerland |
1920 | Informal since 1924 creation of a customs union Customs union A customs union is a type of trade bloc which is composed of a free trade area with a common external tariff. The participant countries set up common external trade policy, but in some cases they use different import quotas... and common market in EFTA European Free Trade Association The European Free Trade Association or EFTA is a free trade organisation between four European countries that operates parallel to, and is linked to, the European Union . EFTA was established on 3 May 1960 as a trade bloc-alternative for European states who were either unable to, or chose not to,... in a de-facto EMU Economic and monetary union An economic and monetary union is a type of trade bloc which is composed of an economic union with a monetary union. It is to be distinguished from a mere monetary union , which does not involve a common market. This is the fifth stage of economic integration... |
7,774,546 | 497,171,000,000 | |
| Turkish lira Turkish lira The Turkish lira is the currency of Turkey and the de facto independent state of the Turkish Republic of Northern Cyprus. The lira is subdivided into 100 kuruş... |
 Turkey |
1983 | Informal | 75,081,100 | 734,043 | |
| United States dollar United States dollar The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies.... |
 United States Ecuador El Salvador Panama Marshall Islands Palau East Timor Turks and Caicos Islands British Virgin Islands |
1904 (Panama only) |
Informal | 339,300,000 |
Zimbabwe this theoretically in currency union with four blocs as it circulates the South African rand, Botswana pula, British pound and US dollar as official currencies.Additionally the autonomous and dependent
Dependent territory
A dependent territory, dependent area or dependency is a territory that does not possess full political independence or sovereignty as a State, and remains politically outside of the controlling state's integral area....
territories, such as some of the EU member state special territories, are sometimes treated as separate customs territory
Customs territory
A customs territory is a territory with individual customs regulations.The most common type of customs territory is the sovereign state and the others are the Trade bloc that has a customs union; and the autonomous or dependent territory that has independence in foreign trade and customs...
from their mainland state or have varying arrangements of formal or de-facto customs union
Customs union
A customs union is a type of trade bloc which is composed of a free trade area with a common external tariff. The participant countries set up common external trade policy, but in some cases they use different import quotas...
, common market and currency union (or combinations thereof) with the mainland and in regards to third countries trough the trade pact
Trade pact
A trade pact is a wide ranging tax, tariff and trade pact that often includes investment guarantees. The most common trade pacts are of the preferential and free trade types are concluded in order to reduce tariffs, quotas and other trade restrictions on items traded between the signatories.-By...
s signed by the mainland state.
Proposed
| Community | Currency | Region | Target date | Notes |
|---|---|---|---|---|
| Bolivarian Alternative for the Americas Bolivarian Alternative for the Americas The Bolivarian Alliance for the Peoples of Our America is an international cooperation organization based on the idea of social, political, and economic integration between the countries of Latin America and the Caribbean... |
SUCRE | Latin America /Caribbean |
2010 | It is planned to begin as an electronic currency involving all countries of the Bolivarian Alternative for the Americas Bolivarian Alternative for the Americas The Bolivarian Alliance for the Peoples of Our America is an international cooperation organization based on the idea of social, political, and economic integration between the countries of Latin America and the Caribbean... . |
| East African Community East African Community The East African Community is an intergovernmental organisation comprising the five east African countries Burundi, Kenya, Rwanda, Tanzania, and Uganda. Pierre Nkurunziza, the President of the Republic of Burundi, is the current Chairman of the East African Community. The EAC was originally... |
East African shilling | Africa | 2015 | |
| South Asian Association for Regional Cooperation South Asian Association for Regional Cooperation The South Asian Association for Regional Cooperation is an organisation of South Asian nations, founded in December 1985 by Ziaur Rahman and dedicated to economic, technological, social, and cultural development emphasising collective self-reliance. Its seven founding members are Bangladesh,... |
Asia | 2020 | ||
| West African Monetary Zone | Eco Eco (currency) The Eco is the proposed name for the common currency that the West African Monetary Zone plans to introduce in the framework of ECOWAS. Originally the introduction of the currency was planned for December 1, 2009, however this date was revised to 2015. The original five member states are the... |
Africa | 2020 | Inside Economic Community of West African States Economic Community of West African States The Economic Community of West African States is a regional group of fifteen West African countries. Founded on 28 May 1975, with the signing of the Treaty of Lagos, its mission is to promote economic integration across the region.... , planned to eventually merge with West African franc West African CFA franc The West African CFA franc is the currency of eight independent states in West Africa: Benin, Burkina Faso, Côte d'Ivoire, Guinea-Bissau, Mali, Niger, Sénégal and Togo. The acronym CFA stands for Communauté financière d'Afrique... |
| ASEAN+3 | Asian Monetary Unit Asian Monetary Unit Asian Monetary Unit is a basket of currencies proposed by the Japanese government's Research Institute of Economy, Trade and Industry . It is similar to the now-defunct European Currency Unit .-AMU baskets:... |
Asia | a free trade agreements matrix partially established | |
| Cooperation Council for the Arab States of the Gulf Cooperation Council for the Arab States of the Gulf The Cooperation Council for the Arab States of the Gulf , also known as the Gulf Cooperation Council , is a political and economic union of the Arab states bordering the Persian Gulf and constituting the Arabian Peninsula, namely Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates... |
Khaleeji Khaleeji (currency) The Khaleeji was a proposed name for the common currency of the member states of the GCC or Cooperation Council for the Arab States of the Gulf, except for Oman, and the U.A.E.. The term 'Khaleeji' is Arabic for "of the Gulf", and is traditionally associated with the Arab states of the Persian Gulf... |
Persian Gulf | circa 2013-2020 | Oman Oman Oman , officially called the Sultanate of Oman , is an Arab state in southwest Asia on the southeast coast of the Arabian Peninsula. It is bordered by the United Arab Emirates to the northwest, Saudi Arabia to the west, and Yemen to the southwest. The coast is formed by the Arabian Sea on the... and the United Arab Emirates United Arab Emirates The United Arab Emirates, abbreviated as the UAE, or shortened to "the Emirates", is a state situated in the southeast of the Arabian Peninsula in Western Asia on the Persian Gulf, bordering Oman, and Saudi Arabia, and sharing sea borders with Iraq, Kuwait, Bahrain, Qatar, and Iran.The UAE is a... do not intent to adopt the currency at first but will do at a later date. |
| German-Dutch-Austrian-Nordic breakaway currency union | Guilder Guilder Guilder is the English translation of the Dutch gulden — from Old Dutch for 'golden'. The guilder originated as a gold coin but has been a common name for a silver or base metal coin for some centuries... or Northern Euro |
Europe | Theoretical (2015) | See European sovereign debt crisis, Scandinavian Monetary Union Scandinavian Monetary Union The Scandinavian Monetary Union was a monetary union formed by Sweden and Denmark on May 5, 1873, by fixing their currencies against gold at par to each other... , and Hanseatic League Hanseatic League The Hanseatic League was an economic alliance of trading cities and their merchant guilds that dominated trade along the coast of Northern Europe... |
Previous
- between BahrainBahrain' , officially the Kingdom of Bahrain , is a small island state near the western shores of the Persian Gulf. It is ruled by the Al Khalifa royal family. The population in 2010 stood at 1,214,705, including 235,108 non-nationals. Formerly an emirate, Bahrain was declared a kingdom in 2002.Bahrain is...
and Abu DhabiAbu DhabiAbu Dhabi , literally Father of Gazelle, is the capital and the second largest city of the United Arab Emirates in terms of population and the largest of the seven member emirates of the United Arab Emirates. Abu Dhabi lies on a T-shaped island jutting into the Persian Gulf from the central western...
using the Bahraini dinarBahraini dinarThe dinar is the currency of Bahrain. It is divided into 1000 fils . The name dinar derives from the Roman denarius. The dinar was introduced in 1965, replacing the Gulf rupee at a rate of 10 rupees = 1 dinar. The Bahraini dinar is abbreviated .د.ب or BD... - between BahrainBahrain' , officially the Kingdom of Bahrain , is a small island state near the western shores of the Persian Gulf. It is ruled by the Al Khalifa royal family. The population in 2010 stood at 1,214,705, including 235,108 non-nationals. Formerly an emirate, Bahrain was declared a kingdom in 2002.Bahrain is...
, KuwaitKuwaitThe State of Kuwait is a sovereign Arab state situated in the north-east of the Arabian Peninsula in Western Asia. It is bordered by Saudi Arabia to the south at Khafji, and Iraq to the north at Basra. It lies on the north-western shore of the Persian Gulf. The name Kuwait is derived from the...
, OmanOmanOman , officially called the Sultanate of Oman , is an Arab state in southwest Asia on the southeast coast of the Arabian Peninsula. It is bordered by the United Arab Emirates to the northwest, Saudi Arabia to the west, and Yemen to the southwest. The coast is formed by the Arabian Sea on the...
, QatarQatarQatar , also known as the State of Qatar or locally Dawlat Qaṭar, is a sovereign Arab state, located in the Middle East, occupying the small Qatar Peninsula on the northeasterly coast of the much larger Arabian Peninsula. Its sole land border is with Saudi Arabia to the south, with the rest of its...
and the Trucial StatesTrucial StatesThe Trucial States were a group of sheikhdoms in the Persian Gulf.-General aspects:The sheikdoms included:*Abu Dhabi *Ajman...
, using the Gulf rupeeGulf rupeeThe Gulf rupee, also known as the Persian Gulf rupee , was a currency used in the countries of the Persian Gulf and the Arabian Peninsula between 1959 and 1966...
from 1959 until 1966 - between AdenAdenAden is a seaport city in Yemen, located by the eastern approach to the Red Sea , some 170 kilometres east of Bab-el-Mandeb. Its population is approximately 800,000. Aden's ancient, natural harbour lies in the crater of an extinct volcano which now forms a peninsula, joined to the mainland by a...
and South ArabiaSouth ArabiaSouth Arabia as a general term refers to several regions as currently recognized, in chief the Republic of Yemen; yet it has historically also included Najran, Jizan, and 'Asir which are presently in Saudi Arabia, and Dhofar presently in Oman...
, BahrainBahrain' , officially the Kingdom of Bahrain , is a small island state near the western shores of the Persian Gulf. It is ruled by the Al Khalifa royal family. The population in 2010 stood at 1,214,705, including 235,108 non-nationals. Formerly an emirate, Bahrain was declared a kingdom in 2002.Bahrain is...
, KenyaKenyaKenya , officially known as the Republic of Kenya, is a country in East Africa that lies on the equator, with the Indian Ocean to its south-east...
, KuwaitKuwaitThe State of Kuwait is a sovereign Arab state situated in the north-east of the Arabian Peninsula in Western Asia. It is bordered by Saudi Arabia to the south at Khafji, and Iraq to the north at Basra. It lies on the north-western shore of the Persian Gulf. The name Kuwait is derived from the...
, OmanOmanOman , officially called the Sultanate of Oman , is an Arab state in southwest Asia on the southeast coast of the Arabian Peninsula. It is bordered by the United Arab Emirates to the northwest, Saudi Arabia to the west, and Yemen to the southwest. The coast is formed by the Arabian Sea on the...
, QatarQatarQatar , also known as the State of Qatar or locally Dawlat Qaṭar, is a sovereign Arab state, located in the Middle East, occupying the small Qatar Peninsula on the northeasterly coast of the much larger Arabian Peninsula. Its sole land border is with Saudi Arabia to the south, with the rest of its...
, British SomalilandBritish SomalilandBritish Somaliland was a British protectorate in the northern part of present-day Somalia. For much of its existence, British Somaliland was bordered by French Somaliland, Ethiopia, and Italian Somaliland. From 1940 to 1941, it was occupied by the Italians and was part of Italian East Africa...
, the Trucial StatesTrucial StatesThe Trucial States were a group of sheikhdoms in the Persian Gulf.-General aspects:The sheikdoms included:*Abu Dhabi *Ajman...
, UgandaUgandaUganda , officially the Republic of Uganda, is a landlocked country in East Africa. Uganda is also known as the "Pearl of Africa". It is bordered on the east by Kenya, on the north by South Sudan, on the west by the Democratic Republic of the Congo, on the southwest by Rwanda, and on the south by...
, ZanzibarZanzibarZanzibar ,Persian: زنگبار, from suffix bār: "coast" and Zangi: "bruin" ; is a semi-autonomous part of Tanzania, in East Africa. It comprises the Zanzibar Archipelago in the Indian Ocean, off the coast of the mainland, and consists of numerous small islands and two large ones: Unguja , and Pemba...
and British India (later independent IndiaIndiaIndia , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
) using the Indian rupeeIndian rupeeThe Indian rupee is the official currency of the Republic of India. The issuance of the currency is controlled by the Reserve Bank of India.... - between British India and the Straits SettlementsStraits SettlementsThe Straits Settlements were a group of British territories located in Southeast Asia.Originally established in 1826 as part of the territories controlled by the British East India Company, the Straits Settlements came under direct British control as a crown colony on 1 April 1867...
(1837–1867) using the Indian rupeeIndian rupeeThe Indian rupee is the official currency of the Republic of India. The issuance of the currency is controlled by the Reserve Bank of India.... - between Czech RepublicCzech RepublicThe Czech Republic is a landlocked country in Central Europe. The country is bordered by Poland to the northeast, Slovakia to the east, Austria to the south, and Germany to the west and northwest....
and SlovakiaSlovakiaThe Slovak Republic is a landlocked state in Central Europe. It has a population of over five million and an area of about . Slovakia is bordered by the Czech Republic and Austria to the west, Poland to the north, Ukraine to the east and Hungary to the south...
(briefly from January 1, 1993 to February 8, 1993) using the Czechoslovak korunaCzechoslovak korunaThe Czechoslovak koruna was the currency of Czechoslovakia from April 10, 1919 to March 14, 1939 and from November 1, 1945 to February 7, 1993... - between EthiopiaEthiopiaEthiopia , officially known as the Federal Democratic Republic of Ethiopia, is a country located in the Horn of Africa. It is the second-most populous nation in Africa, with over 82 million inhabitants, and the tenth-largest by area, occupying 1,100,000 km2...
and EritreaEritreaEritrea , officially the State of Eritrea, is a country in the Horn of Africa. Eritrea derives it's name from the Greek word Erethria, meaning 'red land'. The capital is Asmara. It is bordered by Sudan in the west, Ethiopia in the south, and Djibouti in the southeast...
using the Ethiopian birrEthiopian birrThe birr is the unit of currency in Ethiopia. Before 1976, dollar was the official English translation of birr. Today, it is officially birr in English as well.... - between FranceFranceThe French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France...
, MonacoMonacoMonaco , officially the Principality of Monaco , is a sovereign city state on the French Riviera. It is bordered on three sides by its neighbour, France, and its centre is about from Italy. Its area is with a population of 35,986 as of 2011 and is the most densely populated country in the...
, and AndorraAndorraAndorra , officially the Principality of Andorra , also called the Principality of the Valleys of Andorra, , is a small landlocked country in southwestern Europe, located in the eastern Pyrenees mountains and bordered by Spain and France. It is the sixth smallest nation in Europe having an area of...
using the French francFrench francThe franc was a currency of France. Along with the Spanish peseta, it was also a de facto currency used in Andorra . Between 1360 and 1641, it was the name of coins worth 1 livre tournois and it remained in common parlance as a term for this amount of money... - between the Eastern Caribbean, BarbadosBarbadosBarbados is an island country in the Lesser Antilles. It is in length and as much as in width, amounting to . It is situated in the western area of the North Atlantic and 100 kilometres east of the Windward Islands and the Caribbean Sea; therein, it is about east of the islands of Saint...
, Trinidad and TobagoTrinidad and TobagoTrinidad and Tobago officially the Republic of Trinidad and Tobago is an archipelagic state in the southern Caribbean, lying just off the coast of northeastern Venezuela and south of Grenada in the Lesser Antilles...
and British GuianaBritish GuianaBritish Guiana was the name of the British colony on the northern coast of South America, now the independent nation of Guyana.The area was originally settled by the Dutch at the start of the 17th century as the colonies of Essequibo, Demerara, and Berbice...
using the Eastern Caribbean dollar - between ItalyItalyItaly , officially the Italian Republic languages]] under the European Charter for Regional or Minority Languages. In each of these, Italy's official name is as follows:;;;;;;;;), is a unitary parliamentary republic in South-Central Europe. To the north it borders France, Switzerland, Austria and...
, Vatican CityVatican CityVatican City , or Vatican City State, in Italian officially Stato della Città del Vaticano , which translates literally as State of the City of the Vatican, is a landlocked sovereign city-state whose territory consists of a walled enclave within the city of Rome, Italy. It has an area of...
, and San MarinoSan MarinoSan Marino, officially the Republic of San Marino , is a state situated on the Italian Peninsula on the eastern side of the Apennine Mountains. It is an enclave surrounded by Italy. Its size is just over with an estimated population of over 30,000. Its capital is the City of San Marino...
using the Italian liraItalian liraThe lira was the currency of Italy between 1861 and 2002. Between 1999 and 2002, the Italian lira was officially a “national subunit” of the euro... - between IrelandRepublic of IrelandIreland , described as the Republic of Ireland , is a sovereign state in Europe occupying approximately five-sixths of the island of the same name. Its capital is Dublin. Ireland, which had a population of 4.58 million in 2011, is a constitutional republic governed as a parliamentary democracy,...
, and the United KingdomUnited KingdomThe United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
using the Pound SterlingPound sterlingThe pound sterling , commonly called the pound, is the official currency of the United Kingdom, its Crown Dependencies and the British Overseas Territories of South Georgia and the South Sandwich Islands, British Antarctic Territory and Tristan da Cunha. It is subdivided into 100 pence...
(Ireland used its own coins/banknotes of equivalent value) dissolved in 1979 when Ireland joined the European Monetary SystemEuropean Monetary SystemThere are three stages of monetary cooperation in the European Union.-Background:European currency exchange rate stability has been one of the most important objectives of European policy makers at least since the Second World War....
without Britain - between JamaicaJamaicaJamaica is an island nation of the Greater Antilles, in length, up to in width and 10,990 square kilometres in area. It is situated in the Caribbean Sea, about south of Cuba, and west of Hispaniola, the island harbouring the nation-states Haiti and the Dominican Republic...
and the Cayman IslandsCayman IslandsThe Cayman Islands is a British Overseas Territory and overseas territory of the European Union located in the western Caribbean Sea. The territory comprises the three islands of Grand Cayman, Cayman Brac, and Little Cayman, located south of Cuba and northwest of Jamaica...
using the Jamaican poundJamaican poundThe pound was the official currency of Jamaica between 1840 and 1969. It circulated as a mixture of British currency and local issues and was always equal to the British pound...
and later Jamaican dollarJamaican dollarThe dollar has been the currency of Jamaica since 1969. It is often abbreviated "J$", the J serving to distinguish it from other dollar-denominated currencies. It is divided into 100 cents.-History:... - between KenyaKenyaKenya , officially known as the Republic of Kenya, is a country in East Africa that lies on the equator, with the Indian Ocean to its south-east...
, UgandaUgandaUganda , officially the Republic of Uganda, is a landlocked country in East Africa. Uganda is also known as the "Pearl of Africa". It is bordered on the east by Kenya, on the north by South Sudan, on the west by the Democratic Republic of the Congo, on the southwest by Rwanda, and on the south by...
and ZanzibarZanzibarZanzibar ,Persian: زنگبار, from suffix bār: "coast" and Zangi: "bruin" ; is a semi-autonomous part of Tanzania, in East Africa. It comprises the Zanzibar Archipelago in the Indian Ocean, off the coast of the mainland, and consists of numerous small islands and two large ones: Unguja , and Pemba...
using the East African rupeeEast African rupeeThe rupee was the currency of Britain's East African colonies and protectorates between 1906 and 1920. It was divided into 100 cents.The rupee replaced the Indian rupee, which had previously circulated. In 1920, the rupee was revalued against sterling to a peg of 1 rupee = 2 shillings... - between KenyaKenyaKenya , officially known as the Republic of Kenya, is a country in East Africa that lies on the equator, with the Indian Ocean to its south-east...
, UgandaUgandaUganda , officially the Republic of Uganda, is a landlocked country in East Africa. Uganda is also known as the "Pearl of Africa". It is bordered on the east by Kenya, on the north by South Sudan, on the west by the Democratic Republic of the Congo, on the southwest by Rwanda, and on the south by...
and ZanzibarZanzibarZanzibar ,Persian: زنگبار, from suffix bār: "coast" and Zangi: "bruin" ; is a semi-autonomous part of Tanzania, in East Africa. It comprises the Zanzibar Archipelago in the Indian Ocean, off the coast of the mainland, and consists of numerous small islands and two large ones: Unguja , and Pemba...
(and later TanganyikaTanganyikaTanganyika , later formally the Republic of Tanganyika, was a sovereign state in East Africa from 1961 to 1964. It was situated between the Indian Ocean and the African Great Lakes of Lake Victoria, Lake Malawi and Lake Tanganyika...
) using the East African florinEast African florinThe florin was the currency of the British colonies and protectorates of East Africa between 1920 and 1921. It was divided into 100 cents. It replaced the rupee at par and was replaced by the shilling at a rate of 2 shillings = 1 florin... - between KenyaKenyaKenya , officially known as the Republic of Kenya, is a country in East Africa that lies on the equator, with the Indian Ocean to its south-east...
, TanganyikaTanganyikaTanganyika , later formally the Republic of Tanganyika, was a sovereign state in East Africa from 1961 to 1964. It was situated between the Indian Ocean and the African Great Lakes of Lake Victoria, Lake Malawi and Lake Tanganyika...
and ZanzibarZanzibarZanzibar ,Persian: زنگبار, from suffix bār: "coast" and Zangi: "bruin" ; is a semi-autonomous part of Tanzania, in East Africa. It comprises the Zanzibar Archipelago in the Indian Ocean, off the coast of the mainland, and consists of numerous small islands and two large ones: Unguja , and Pemba...
(later merged as TanzaniaTanzaniaThe United Republic of Tanzania is a country in East Africa bordered by Kenya and Uganda to the north, Rwanda, Burundi, and the Democratic Republic of the Congo to the west, and Zambia, Malawi, and Mozambique to the south. The country's eastern borders lie on the Indian Ocean.Tanzania is a state...
), UgandaUgandaUganda , officially the Republic of Uganda, is a landlocked country in East Africa. Uganda is also known as the "Pearl of Africa". It is bordered on the east by Kenya, on the north by South Sudan, on the west by the Democratic Republic of the Congo, on the southwest by Rwanda, and on the south by...
, South ArabiaSouth ArabiaSouth Arabia as a general term refers to several regions as currently recognized, in chief the Republic of Yemen; yet it has historically also included Najran, Jizan, and 'Asir which are presently in Saudi Arabia, and Dhofar presently in Oman...
, British SomalilandBritish SomalilandBritish Somaliland was a British protectorate in the northern part of present-day Somalia. For much of its existence, British Somaliland was bordered by French Somaliland, Ethiopia, and Italian Somaliland. From 1940 to 1941, it was occupied by the Italians and was part of Italian East Africa...
and Italian SomalilandItalian SomalilandItalian Somaliland , also known as Italian Somalia, was a colony of the Kingdom of Italy from the 1880s until 1936 in the region of modern-day Somalia. Ruled in the 19th century by the Somali Sultanate of Hobyo and the Majeerteen Sultanate, the territory was later acquired by Italy through various...
using the East African shillingEast African shillingThe shilling was the currency issued for use in British controlled areas in East Africa from 1921 until 1969. It was produced by the East African Currency Board... - Latin Monetary UnionLatin Monetary UnionThe Latin Monetary Union was a 19th century attempt to unify several European currencies, at a time when most circulating coins were still made of gold and silver...
(1865–1927), initially between FranceFranceThe French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France...
, BelgiumBelgiumBelgium , officially the Kingdom of Belgium, is a federal state in Western Europe. It is a founding member of the European Union and hosts the EU's headquarters, and those of several other major international organisations such as NATO.Belgium is also a member of, or affiliated to, many...
, ItalyItalyItaly , officially the Italian Republic languages]] under the European Charter for Regional or Minority Languages. In each of these, Italy's official name is as follows:;;;;;;;;), is a unitary parliamentary republic in South-Central Europe. To the north it borders France, Switzerland, Austria and...
and SwitzerlandSwitzerlandSwitzerland name of one of the Swiss cantons. ; ; ; or ), in its full name the Swiss Confederation , is a federal republic consisting of 26 cantons, with Bern as the seat of the federal authorities. The country is situated in Western Europe,Or Central Europe depending on the definition....
, and later involving GreeceGreeceGreece , officially the Hellenic Republic , and historically Hellas or the Republic of Greece in English, is a country in southeastern Europe....
, SpainSpainSpain , officially the Kingdom of Spain languages]] under the European Charter for Regional or Minority Languages. In each of these, Spain's official name is as follows:;;;;;;), is a country and member state of the European Union located in southwestern Europe on the Iberian Peninsula...
and other countries. - between LiberiaLiberiaLiberia , officially the Republic of Liberia, is a country in West Africa. It is bordered by Sierra Leone on the west, Guinea on the north and Côte d'Ivoire on the east. Liberia's coastline is composed of mostly mangrove forests while the more sparsely populated inland consists of forests that open...
and the United StatesUnited StatesThe United States of America is a federal constitutional republic comprising fifty states and a federal district...
using the United States dollarUnited States dollarThe United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies.... - between MauritiusMauritiusMauritius , officially the Republic of Mauritius is an island nation off the southeast coast of the African continent in the southwest Indian Ocean, about east of Madagascar...
and SeychellesSeychellesSeychelles , officially the Republic of Seychelles , is an island country spanning an archipelago of 115 islands in the Indian Ocean, some east of mainland Africa, northeast of the island of Madagascar....
using the Mauritian rupeeMauritian rupeeThe rupee is the currency of Mauritius.It is theoretically divided into 100 cents; however, as at October 2011, only 5 and 20 cent coins, are currently in circulation, the latest mintage of these two coins was in 2010. A Half Rupee coin is also in circulation.-History:The rupee was established by... - between NigeriaNigeriaNigeria , officially the Federal Republic of Nigeria, is a federal constitutional republic comprising 36 states and its Federal Capital Territory, Abuja. The country is located in West Africa and shares land borders with the Republic of Benin in the west, Chad and Cameroon in the east, and Niger in...
, the Gambia, Sierra LeoneSierra LeoneSierra Leone , officially the Republic of Sierra Leone, is a country in West Africa. It is bordered by Guinea to the north and east, Liberia to the southeast, and the Atlantic Ocean to the west and southwest. Sierra Leone covers a total area of and has an estimated population between 5.4 and 6.4...
, the Gold CoastGold Coast (British colony)The Gold Coast was a British colony on the Gulf of Guinea in west Africa that became the independent nation of Ghana in 1957.-Overview:The first Europeans to arrive at the coast were the Portuguese in 1471. They encountered a variety of African kingdoms, some of which controlled substantial...
and LiberiaLiberiaLiberia , officially the Republic of Liberia, is a country in West Africa. It is bordered by Sierra Leone on the west, Guinea on the north and Côte d'Ivoire on the east. Liberia's coastline is composed of mostly mangrove forests while the more sparsely populated inland consists of forests that open...
using the British West African pound - between PrussiaKingdom of PrussiaThe Kingdom of Prussia was a German kingdom from 1701 to 1918. Until the defeat of Germany in World War I, it comprised almost two-thirds of the area of the German Empire...
and the North German states (1838–1857) using the North German thalerPrussian thalerThe Thaler was the currency of Prussia until 1857. From 1750, it was distinct from north German Reichsthaler unit of account in that it contained 1/14 of a Cologne mark of silver, rather than 1/12, and was minted as a coin... - between RussiaRussiaRussia or , officially known as both Russia and the Russian Federation , is a country in northern Eurasia. It is a federal semi-presidential republic, comprising 83 federal subjects...
and the former Soviet republicsPost-Soviet statesThe post-Soviet states, also commonly known as the Former Soviet Union or former Soviet republics, are the 15 independent states that split off from the Union of Soviet Socialist Republics in its dissolution in December 1991...
(1991–1993) using the Soviet rubleSoviet rubleThe Soviet ruble or rouble was the currency of the Soviet Union. One ruble is divided into 100 kopeks, .... - between QatarQatarQatar , also known as the State of Qatar or locally Dawlat Qaṭar, is a sovereign Arab state, located in the Middle East, occupying the small Qatar Peninsula on the northeasterly coast of the much larger Arabian Peninsula. Its sole land border is with Saudi Arabia to the south, with the rest of its...
and all the emirates of the UAE, except Abu DhabiAbu DhabiAbu Dhabi , literally Father of Gazelle, is the capital and the second largest city of the United Arab Emirates in terms of population and the largest of the seven member emirates of the United Arab Emirates. Abu Dhabi lies on a T-shaped island jutting into the Persian Gulf from the central western...
using the Qatari and Dubai riyal - between Saudi ArabiaSaudi ArabiaThe Kingdom of Saudi Arabia , commonly known in British English as Saudi Arabia and in Arabic as as-Sa‘ūdiyyah , is the largest state in Western Asia by land area, constituting the bulk of the Arabian Peninsula, and the second-largest in the Arab World...
and QatarQatarQatar , also known as the State of Qatar or locally Dawlat Qaṭar, is a sovereign Arab state, located in the Middle East, occupying the small Qatar Peninsula on the northeasterly coast of the much larger Arabian Peninsula. Its sole land border is with Saudi Arabia to the south, with the rest of its...
using the Saudi riyalSaudi riyalThe Riyal is the currency of Saudi Arabia. It is abbreviated as ر.س or SR . It is subdivided into 100 Halalas . The Saudi Ghirsh is 5 Halalas.-History:... - between SamoaSamoaSamoa , officially the Independent State of Samoa, formerly known as Western Samoa is a country encompassing the western part of the Samoan Islands in the South Pacific Ocean. It became independent from New Zealand in 1962. The two main islands of Samoa are Upolu and one of the biggest islands in...
and New ZealandNew ZealandNew Zealand is an island country in the south-western Pacific Ocean comprising two main landmasses and numerous smaller islands. The country is situated some east of Australia across the Tasman Sea, and roughly south of the Pacific island nations of New Caledonia, Fiji, and Tonga...
using the New Zealand poundNew Zealand poundThe pound was the currency of New Zealand between 1840 and 1967. Like the British pound, it was subdivided into 20 shillings each of 12 pence. As a result of the great depression of the early 1930s, the New Zealand agricultural export market to the UK was badly affected... - between DenmarkDenmarkDenmark is a Scandinavian country in Northern Europe. The countries of Denmark and Greenland, as well as the Faroe Islands, constitute the Kingdom of Denmark . It is the southernmost of the Nordic countries, southwest of Sweden and south of Norway, and bordered to the south by Germany. Denmark...
, NorwayNorwayNorway , officially the Kingdom of Norway, is a Nordic unitary constitutional monarchy whose territory comprises the western portion of the Scandinavian Peninsula, Jan Mayen, and the Arctic archipelago of Svalbard and Bouvet Island. Norway has a total area of and a population of about 4.9 million...
and SwedenSwedenSweden , officially the Kingdom of Sweden , is a Nordic country on the Scandinavian Peninsula in Northern Europe. Sweden borders with Norway and Finland and is connected to Denmark by a bridge-tunnel across the Öresund....
in the Scandinavian Monetary UnionScandinavian Monetary UnionThe Scandinavian Monetary Union was a monetary union formed by Sweden and Denmark on May 5, 1873, by fixing their currencies against gold at par to each other... - between the Solomon IslandsSolomon IslandsSolomon Islands is a sovereign state in Oceania, east of Papua New Guinea, consisting of nearly one thousand islands. It covers a land mass of . The capital, Honiara, is located on the island of Guadalcanal...
, Papua New GuineaPapua New GuineaPapua New Guinea , officially the Independent State of Papua New Guinea, is a country in Oceania, occupying the eastern half of the island of New Guinea and numerous offshore islands...
and AustraliaAustraliaAustralia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
using the Australian dollarAustralian dollarThe Australian dollar is the currency of the Commonwealth of Australia, including Christmas Island, Cocos Islands, and Norfolk Island, as well as the independent Pacific Island states of Kiribati, Nauru and Tuvalu... - South German guilderSouth German guldenThe Gulden was the currency of the states of southern Germany between 1754 and 1873. These states included Bavaria, Baden, Württemberg, Frankfurt and Hohenzollern....
- between SpainSpainSpain , officially the Kingdom of Spain languages]] under the European Charter for Regional or Minority Languages. In each of these, Spain's official name is as follows:;;;;;;), is a country and member state of the European Union located in southwestern Europe on the Iberian Peninsula...
and AndorraAndorraAndorra , officially the Principality of Andorra , also called the Principality of the Valleys of Andorra, , is a small landlocked country in southwestern Europe, located in the eastern Pyrenees mountains and bordered by Spain and France. It is the sixth smallest nation in Europe having an area of...
using the Spanish pesetaSpanish pesetaThe peseta was the currency of Spain between 1869 and 2002. Along with the French franc, it was also a de facto currency used in Andorra .- Etymology :... - between BruneiBruneiBrunei , officially the State of Brunei Darussalam or the Nation of Brunei, the Abode of Peace , is a sovereign state located on the north coast of the island of Borneo, in Southeast Asia...
, Malaysia, and SingaporeSingaporeSingapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
(1953–1967) using the Malaya and British Borneo dollarMalaya and British Borneo dollarThe Malaya and British Borneo dollar was the currency of Malaya, Singapore, Sarawak, British North Borneo and Brunei from 1953 to 1967. The currency was issued by the Board of Commissioners of Currency, Malaya and British Borneo... - between CambodiaCambodiaCambodia , officially known as the Kingdom of Cambodia, is a country located in the southern portion of the Indochina Peninsula in Southeast Asia...
, LaosLaosLaos Lao: ສາທາລະນະລັດ ປະຊາທິປະໄຕ ປະຊາຊົນລາວ Sathalanalat Paxathipatai Paxaxon Lao, officially the Lao People's Democratic Republic, is a landlocked country in Southeast Asia, bordered by Burma and China to the northwest, Vietnam to the east, Cambodia to the south and Thailand to the west...
, and VietnamVietnamVietnam – sometimes spelled Viet Nam , officially the Socialist Republic of Vietnam – is the easternmost country on the Indochina Peninsula in Southeast Asia. It is bordered by China to the north, Laos to the northwest, Cambodia to the southwest, and the South China Sea –...
(1885–1952) using the French Indochinese piastreFrench Indochinese piastreThe piastre de commerce was the currency of French Indochina between 1885 and 1952. It was subdivided into 100 cent, each of 5 sapeque.-History:... - between South AfricaSouth AfricaThe Republic of South Africa is a country in southern Africa. Located at the southern tip of Africa, it is divided into nine provinces, with of coastline on the Atlantic and Indian oceans...
and BotswanaBotswanaBotswana, officially the Republic of Botswana , is a landlocked country located in Southern Africa. The citizens are referred to as "Batswana" . Formerly the British protectorate of Bechuanaland, Botswana adopted its new name after becoming independent within the Commonwealth on 30 September 1966...
(1966–1976) using the South African randSouth African randThe rand is the currency of South Africa. It takes its name from the Witwatersrand , the ridge upon which Johannesburg is built and where most of South Africa's gold deposits were found. The rand has the symbol "R" and is subdivided into 100 cents, symbol "c"... - between EgyptEgyptEgypt , officially the Arab Republic of Egypt, Arabic: , is a country mainly in North Africa, with the Sinai Peninsula forming a land bridge in Southwest Asia. Egypt is thus a transcontinental country, and a major power in Africa, the Mediterranean Basin, the Middle East and the Muslim world...
and SudanSudanSudan , officially the Republic of the Sudan , is a country in North Africa, sometimes considered part of the Middle East politically. It is bordered by Egypt to the north, the Red Sea to the northeast, Eritrea and Ethiopia to the east, South Sudan to the south, the Central African Republic to the...
using the Egyptian poundEgyptian poundThe Egyptian Pound is the currency of Egypt. It is divided into 100 Qirsh , or 1,000 Milliemes ....
- until 1956 - between West GermanyWest GermanyWest Germany is the common English, but not official, name for the Federal Republic of Germany or FRG in the period between its creation in May 1949 to German reunification on 3 October 1990....
and East Germany between 1 July 1990 and 3 October 1990, as part of a temporary Monetary, Economic and Social Union prior to German reunificationGerman reunificationGerman reunification was the process in 1990 in which the German Democratic Republic joined the Federal Republic of Germany , and when Berlin reunited into a single city, as provided by its then Grundgesetz constitution Article 23. The start of this process is commonly referred by Germans as die...
. - proposed Pan-American monetary union - abandoned in the form proposed by Argentina
- proposed monetary union between the United Kingdom and Norway using the pound sterlingPound sterlingThe pound sterling , commonly called the pound, is the official currency of the United Kingdom, its Crown Dependencies and the British Overseas Territories of South Georgia and the South Sandwich Islands, British Antarctic Territory and Tristan da Cunha. It is subdivided into 100 pence...
during the late 1940s and early 1950s
See also
List of pegged currencies- North American Currency Union (Amero)