Since 2011, millions of people have used Remitly to send money with peace of mind. However, currencies that have survived for centuries have demonstrated resilience and adaptability that can contribute to ongoing stability. The Russian ruble has one of the most tumultuous histories among surviving currencies. First mentioned in the 13th century, the ruble has endured the Mongol invasion, the Russian Empire, the Soviet Union, and the modern Russian Federation. The British pound is the world’s oldest currency still in use at around 1,200 years old. Dating back to Anglo-Saxon times, the pound has gone through many changes before evolving into the currency we recognise today. Serbian Dinar (RSD) The bills were printed in different denominations since 1745, and today they carry Queen Elizabeth II on the obverse side. As the name suggests, the Russian ruble is the currency of the Russian Federation, the second oldest currency worldwide. It was introduced in the 13th century, but it has been through various revaluations until the Soviet Union dissolved in 1992, when the Soviet ruble became the Russian ruble. Alongside the peso, the United States dollar is also legally used for all monetary transactions. This acted as protection against forgery during the Second World War, when the British economy was under threat. Each bank note (£5, £10, £20, £50) has its own colour and size – the greater the value, the larger the note. All coins (1p, 2p, 5p, 10p, 20p, 50p, £1 and £2) carry the profile of Queen Elizabeth II, facing right. Traditionally, monarchs alternate the direction they face on pound coins. How do these old currencies adapt to modern technology? The Chinese monetary system boasts an incredibly long history, with various forms of currency dating back over 3,000 years. The modern yuan (renminbi) represents the latest evolution of this ancient financial tradition. The British pound is used only as a national currency in the United Kingdom and South Georgia and South Sandwich Islands. Other countries to use a version of the pound sterling include Gibraltar, Falkland Islands, and St. Helena. The Bank of England introduced a new 12-sided £1 coin on 28 March 2017, and the previous £1 coin lost its legal tender status at midnight on 15 October 2017. List of 5 Oldest Currencies in the World Medieval Serbian rulers issued silver dinars, which became prominent trade coins due to the nation’s rich silver mines. Innovation and adaptation is a contributing factor in ensuring a currency’s long-term sustainability. Take for example China with its eRMB and India with its digital rupee released in 2022, according to Mondaq.com. Dating back to the 13th and 14th centuries, the Russian Ruble is regarded as the second oldest currency in the world. For instance, the word “franc” originated from “Francorvm Rex”—the French King’s title, and “thaler” that inspired the word “dollar”, was named after the silver-rich region of Sankt Joachimsthal. Understanding how these ancient currencies thrived provides insights for both modern monetary policy and personal financial decisions. Used throughout the Russian principalities, the rise of the Tsardom of Russia shaped the ruble. Banknotes have always had the United States presidents on the face of the dollar bills, and the only woman ever depicted was Martha Washington, the former First Lady. It’s impossible to think about living today without any form of money or currency, no matter where you reside. Currency is present in every country in the world, and it’s a medium of foreign exchange market for services, goods, and information issued by the national governments. The report defines money as an intangible concept which manifests physically or tangibly in the form of currency. But Montenegro adopted the euro instead and never used the dinar as their official currency. National Bank of Serbia prints denominations of 10, 20, 50, 100, 200, 500-, 1,000-, 2,000-, and 5,000-dinar banknotes, a rare variety for worldwide currencies. Serbian dinar, the official currency of a Balkan state Serbia, has been in circulation since the reign of the king Stefan Nemanjić in 1214 as a Medieval dinar. The first modern dinar came after the Ottoman conquest when Prince Miloš Obrenović pushed for the first coins to be minted in 1868. The highest denomination that has ever been printed on the US dollar was $10,000, but this banknote is rare in circulation as most are in museums. How to trade on the world’s oldest currency The standardization of currency under Emperor Qin Shi Huang in 221 BC established principles that would influence Chinese monetary policy for millennia. You can also trade on baskets of currency pairs with our exclusive forex index instruments, which includes the CMC GBP Index. This contains a group of currency pairs which share the same base currency, the pound sterling, giving you exposure to multiple currencies vs the pound in one single position. Visit our CMC GBP Index instrument page for more details of constituents, weightings and costs. UK Short Sterling Over more than 1,200 years, the British Pound has survived wars, economic upheavals, and the rise and fall of empires, consistently adapting to changing times. Today, it remains in use in the United Kingdom and several British territories. The Thailand baht’s value plummeted to around 56 baht per dollar due to the Asian Financial Crisis back in 1997. Since then, baht has been commonly traded between 25 to 35 baht per U.S dollar. However, its conceptual roots trace back much further, with currency-like craft and coinage used in ancient Japan during the 8th century. Ranging from 1,000 to 10,000 yen, yen as the national currency of Japan featured prominent cultural figures on their banknotes. The table below shows some of the most popular crosses using GBP as both the base and quote currency, along with our spreads and prices. About 3000 years after the barter form of trade existed, the first forms of currencies invented in early China and Europe were coins. Despite periods of harsh devaluation, the ruble continues to be Russia’s national currency, therefore representing its long monetary history. As mentioned in the
