The Fascinating Stories Behind Five Major Currency Symbols
1. The dollar sign traces back to the Spanish peso, known as the *peso de ocho* or "piece of eight," used globally from the 15th century onward. After the United States was formed, its currency was modeled after the peso. The $ symbol likely evolved from the abbreviation "ps" for pesos, with the "S" placed on top of the "P." Over time, the curved portion of the "P" was dropped, resulting in the familiar $ sign we see today. The U.S. officially adopted the dollar sign in 1785.
2. Introduced in 2002, the euro replaced the French franc, German mark, and Italian lira among others. The euro symbol (€) was inspired by the Greek letter epsilon (Є) and the first letter of "Europe." The two parallel lines represent stability. The designer of the symbol remains undisclosed by the European Commission.
3.The pound sterling (£) is one of the oldest currencies still in use, with roots in the Latin word "libra," meaning scales or balances. The symbol £ comes from the letter "L" in *libra*. The pound was in use well before 928 C.E., and by 1489, the first pound coin was minted during the reign of Henry VII.
4.Japan’s yen and China’s yuan both share the symbol ¥, with slight variations in pronunciation and usage. The yen was introduced during Japan's 1871 monetary reform, with the word "yen" meaning "round object." The symbol, a capital Y with two horizontal lines, sometimes appears with only one line.
5.Oldest currencies, the Indian rupee can be traced back to the 6th century B.C.E. However, it didn’t have an official symbol until 2010, when a design contest was held in India. The winning symbol (₹) was created by D. Udaya Kumar, blending elements of the Devanagari script (used for many Indian languages) and the Roman alphabet. The parallel lines at the top represent India's tricolor flag and the equal sign.
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