Why was money different in different parts of the world?

We know for a fact that currencies have varied from country to country since the very beginning of history. The coins developed in Lydia were vastly different from those in Rome or China. The value of currencies too changes accordingly, since they are set by the respective governments or rulers. In other words, currencies and their values are mostly country-specific.

         Today, every country mints or prints its own currencies under the authority of its government, or a central bank. In the case of our country, Reserve Bank of India or RBI produces our currencies, except one-rupee note, which is issued by the Ministry of Finance.

         In Bangladesh, the currency is Bangladeshi Taka, and in Pakistan, Pakistani Rupee. A few others are Canadian dollar, Chinese Renminbi, Bahraini Dinar, UAE Dirham, Omani Rial, Swedish Krona, Swiss Franc etc.

         Some others – US dollar, euro and yen are important currencies globally, in terms of trade and business.

         However, the currency’s value of no two countries will be the same.