Global economic powerhouses: Find out top 7 currencies ruling transactions

United States Dollar (USD)

The USD is the worlds primary reserve currency and is widely used in international trade and financial transactions due to the economic strength of the United States and the stability of its financial system.

Euro (EUR)

As the official currency of the Eurozone, the EUR is widely used in cross-border transactions within the European Union and beyond. It is the second most traded currency in the world after the USD.

Japanese Yen (JPY)

The JPY is a major currency in global transactions, particularly in the Asian region. Japans strong economy and stable financial system contribute to the widespread use of the yen in international trade and finance.

British Pound Sterling (GBP)

The GBP is one of the oldest and most widely traded currencies globally. It is extensively used in international trade, investment, and financial transactions, especially in the United Kingdom and its former colonies.

Chinese Yuan Renminbi (CNY)

With Chinas emergence as a global economic powerhouse, the CNY has gained significance in international transactions. Chinas expanding trade relationships and efforts to internationalize the yuan have contributed to its growing use in global trade and finance.

Swiss Franc (CHF)

Known for its stability and reliability, the CHF is considered a safe-haven currency and is widely used in international transactions, particularly in banking and finance. Switzerlands strong economy and reputation for financial security bolster the global use of the Swiss franc.

Canadian Dollar (CAD)

The CAD is extensively used in international trade, particularly in commodities such as oil and natural gas. Canadas resource-rich economy and stable financial system make the Canadian dollar a significant currency in global transactions.