{"id":5014,"date":"2014-08-27T12:47:14","date_gmt":"2014-08-27T12:47:14","guid":{"rendered":"http:\/\/www.mycurrencytransfer.com\/blog\/?p=5014"},"modified":"2022-09-21T15:37:23","modified_gmt":"2022-09-21T15:37:23","slug":"converted-currencies-world-popular","status":"publish","type":"post","link":"https:\/\/www.mycurrencytransfer.com\/blog\/converted-currencies-world-popular\/","title":{"rendered":"The Most Converted Currencies In The World & Why They Are So Popular"},"content":{"rendered":"

The foreign exchange market is the world\u2019s largest market and sees millions of transactions taking place every day. Whether you are about to get started in the world of forex or you simply have an interest in how the market works, it\u2019s a good idea to get started with learning a little about the world\u2019s most popular currencies and the part they play on the market.<\/p>\n

Let\u2019s take a look at some of the most converted currencies on the forex market today and some of their underlying qualities.
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\"US<\/p>\n[\/spb_text_block] [spb_text_block pb_margin_bottom=”no” pb_border_bottom=”no” width=”2\/3″ el_position=”last”]\n

The US Dollar<\/strong>
\nIt might come as no surprise to know that the US dollar is easily the most traded currency in the world. In fact, almost every central bank in the world uses the USD as its reserve currency and the USD can be found in a pair with all major currencies across the globe.<\/p>\n

The USD is also used as the official currency of many nations or is widely accepted as an informal alternative currency. It is also used as the standard currency of most commodities including precious metals and crude oil.
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\"Euro\"
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The Euro<\/strong>
\nAlthough still a relative newcomer to the currency markets, the euro has leaped ahead of other currencies to become the second most traded currency behind the USD. It is also the second largest reserve currency in the world today and the official currency of most of the countries in the eurozone.<\/p>\n

Many countries within Africa and Europe also peg their currencies to the euro in order to stabilise the exchange rate.
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\"Japanese<\/p>\n[\/spb_text_block] [spb_text_block pb_margin_bottom=”no” pb_border_bottom=”no” width=”2\/3″ el_position=”last”]\n

The Japanese Yen<\/strong>
\nWhen it comes to currencies in Asia, the Japanese Yen is easily the most popular and most traded currency. It is also viewed on by many as an indicator of the strength of the Japanese manufacturing and export industries.<\/p>\n

Many forex traders also use the strength of the Yen to also gauge the health of the Pan-Pacific region, namely countries such as South Korea, Thailand and Singapore, as their currencies are not traded on the global forex markets as much.
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\"British<\/p>\n[\/spb_text_block] [spb_text_block pb_margin_bottom=”no” pb_border_bottom=”no” width=”2\/3″ el_position=”last”]\n

The Great British Pound<\/strong>
\nThe fourth most traded currency in the world is the Great British Pound, also known as pound sterling. It is also used as a reserve currency by many nations. The UK, whilst being a member of the EU, has decided not to switch to the euro for a number of reasons. This is primarily down to historic pride, but also because in doing so, the UK maintains control of domestic interest rates. Forex traders will often see the strength of the GBP as a good indication of the strength of the British economy and its political stability.
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\"The<\/p>\n[\/spb_text_block] [spb_text_block pb_margin_bottom=”no” pb_border_bottom=”no” width=”2\/3″ el_position=”last”]\n

The Swiss Franc<\/strong>
\nMuch like Switzerland itself, the Swiss Franc is seen by many as a neutral currency. What this means from a forex trader\u2019s point of view is that is offers a relative safe haven on the forex market. This is down to the Swiss Franc moving in a negative correlation to other more volatile currencies such as the Australian and Canadian dollars.
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The foreign exchange market is the world\u2019s largest market and sees millions of transactions taking place every day. Whether you are about to get started in the world of forex or you simply have an interest in how the market works, it\u2019s a good idea to get started with learning a little about the world\u2019s most popular currencies and the […]<\/p>\n","protected":false},"author":10,"featured_media":5022,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[144],"tags":[],"_links":{"self":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/5014"}],"collection":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/comments?post=5014"}],"version-history":[{"count":9,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/5014\/revisions"}],"predecessor-version":[{"id":5031,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/5014\/revisions\/5031"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/media\/5022"}],"wp:attachment":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/media?parent=5014"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/categories?post=5014"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/tags?post=5014"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}