In Southeast and Far Asia, the Japanese yen is of enormous importance, but is slowly losing its significance due to its original circulation and is ceding its role to the Chinese renminbi. Although it still has a share of 'only' 16 percent in terms of international use, it is gaining acceptance in more and more economies and also exhibits greater stability.ĭepending on the interpretation of the term reserve currency, other currencies are also regarded as such: The British pound has traditionally played a strong role in the countries of the British Commonwealth. Since 2002, the euro has also increasingly been seen as a reserve currency. The dollar has enormous influence, accounting for 63 percent of global foreign exchange reserves (end of 2017). dollar has been considered a reserve currency since World War II because, for example, oil prices are always calculated in dollars and numerous other currencies have pegged themselves to the U.S. This version is ad-supported.Reserve currencies A reserve currency is a currency that is also used to a particular extent as a means of payment beyond its country of origin. Let us know if you have any comments or feedback! It's similar in nature to XE currency converter and Currency Converter Plus, but offers a lot more.

Optimized for the latest iPhone and iPad models. Find the current exchange rate of what you're converting. Uses 3 decimal places for greater accuracy! Converts as you type (no need for a 'Convert' button!) 'Switch' button to invert the currencies. Exchange rates are updated automatically - you don't have to do anything! One of the first converters to support BitCoin, LiteCoin and Dogecoin! It supports over 150 different currencies from all around the world, ranging from the US Dollar to the Colombian Peso! It even supports BitCoin, LiteCoin and Dogecoin! If you're travelling, this really is a great app to use - you can find out how much your currency is worth in just a few short moments, even if you aren't connected to the internet! My Currency Converter is the simplest, most beautiful currency converter you'll ever find.

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