reserve currency
基軸通貨 ／ reserve-currency — Institutions
The currency used in common in the trade of the world.
Athenian owlBC 454–404
SolidusAD 312–
Joachimsthaler1525
Instead of exchanging their own currencies directly with each other, countries first go through this currency. ⚠ Whether a currency becomes a key currency is not determined by the size of the economy alone. It requires trust that it is "always convertible" and a deep market in which one can borrow in that currency.
References
- Our money — European Central Bank The central bank's own explanation of the introduction of the euro and current banknote denominations.
Only works and primary sources whose existence has been verified are listed.