Evolution is the dynamic process towards maturity and when you talk about the evolution of currency, the process can be worked back to the 7th or 6th century when money was introduced in the guise of coins. Currency or cash can be defined as the material or physical form that is sufficient in places of business and which has a ability to yield many goods and services according to your needs. Traditional folks used to exchange many items that are related to a specified area or locality. That was applicable when the population was little and the needs used to be limited. But as the population grew, the demand increased as this actual situation was the 1st step toward the development of cash.
Barter trade was the first sort of business and it was considered to be the 1st type of currency. The history of currency started in the form of barter trade. Idea of cash was felt after the elevated demand of one item as compared to that of other items. It's been suggested on this website, for instance, that money was invented to replace the unbalanced barter trade system.
Emergence of currency was witnessed early in 1760 BC in Babylon. They created a system in which a uniform unit was introduced to compensate the unbalanced use of barter. Commodity cash was the first sort of currency emerged.
First evidence of money usage was mentioned in Bible in the shape of slave trade. The coins were used as the first form of cash exchange and these coins were made up of expensive metals. Gold coins were first utilised by the Greeks and the weight of those coins was above 8 grams. The history of cash has a prolonged era of coins and these ruled the business for many centuries.
Systematic or settled coins were employed in 700 BC. These were stamped with some sign or symbol. The metal pieces were casted with some sorts of identification mark and common metals used were gold, bronze and silver.
Coins ruled the currency age for many centuries and a great evolution was observed from stone coins to the metal coins. Paper money was introduced in 11th century mainly in China. It was used along with the coins and that was in the 13th century when paper cash notes were introduced in Western european states. Marco Polo was considered as the front-runner of introduction of paper cash in Europe.
Gold standard cash is a relatively modern term in currency market. This term is utilised when money can replace an equal amount of gold. This demonstrates the stability of a currency system and the cash which is most stable has the highest value for an equal amount of gold. Brit pound and Kuwaiti dinar are examples of a few of the strongest currencies of the world. After the World War I, many issues were raised which led on to the demand of a standard currency for the whole world.
Barter trade was the first sort of business and it was considered to be the 1st type of currency. The history of currency started in the form of barter trade. Idea of cash was felt after the elevated demand of one item as compared to that of other items. It's been suggested on this website, for instance, that money was invented to replace the unbalanced barter trade system.
Emergence of currency was witnessed early in 1760 BC in Babylon. They created a system in which a uniform unit was introduced to compensate the unbalanced use of barter. Commodity cash was the first sort of currency emerged.
First evidence of money usage was mentioned in Bible in the shape of slave trade. The coins were used as the first form of cash exchange and these coins were made up of expensive metals. Gold coins were first utilised by the Greeks and the weight of those coins was above 8 grams. The history of cash has a prolonged era of coins and these ruled the business for many centuries.
Systematic or settled coins were employed in 700 BC. These were stamped with some sign or symbol. The metal pieces were casted with some sorts of identification mark and common metals used were gold, bronze and silver.
Coins ruled the currency age for many centuries and a great evolution was observed from stone coins to the metal coins. Paper money was introduced in 11th century mainly in China. It was used along with the coins and that was in the 13th century when paper cash notes were introduced in Western european states. Marco Polo was considered as the front-runner of introduction of paper cash in Europe.
Gold standard cash is a relatively modern term in currency market. This term is utilised when money can replace an equal amount of gold. This demonstrates the stability of a currency system and the cash which is most stable has the highest value for an equal amount of gold. Brit pound and Kuwaiti dinar are examples of a few of the strongest currencies of the world. After the World War I, many issues were raised which led on to the demand of a standard currency for the whole world.
About the Author:
J. K. Roberts is an expert financial consultant and financial researcher from hqrates.com. He's a published and highly rated writer for his research in worldwide finance and history of currency trading. You'll find more articles on history of currency by this writer or how to convert currencies like euro to dollar at the following link.
Hello.
ReplyDeletePlease remove links from these pages of your site:
http://trade-forex101.blogspot.com/2013_01_01_archive.html
http://trade-forex101.blogspot.ru/2013/01/past-and-future-of-money.html
to my website HQRates.com. I ask about it because I got penalty from Google:
"Unnatural links to your site—impacts links
Google has detected a pattern of unnatural artificial, deceptive, or manipulative links pointing to pages on this site. Some links may be outside of the webmaster’s control, so for this incident we are taking targeted action on the unnatural links instead of on the site’s ranking as a whole."
and now I need to try remove some links.
Thank you for helping, have a nice day ;)
Best regards