SGC Book

"The Single Global Currency: Common Cents for the World"



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Count of Currencies of the members of the United Nations. (These currencies are legal tender, i.e. can be used to pay internal taxes, and the count is expressed as a minimum. For example, if two currencies can be used in two or more currency areas as legal tender, then the currency count is 1.) 

Current, as of 2 January 2007: 145 currencies for 192 member countries.

Chronological Currency Count-Down to Single Global Currency

"U.N." = Count of U.N. Members

"#" = Count of Currencies

Year  U.N.  #

1994  184  157 (minus the 27 countries which

                       were 'ized' or in monetary

                       unions[see list at end of this                          chronological list])

1994  185   157 Palau (ized-USD)

1997            156 Guinea-Bissau joined WAEMU

1999  188   157 Kiribati, (ized-AUD), Nauru (ized-                                AUD), Tonga

2000  189   158 Tuvalu (ized-AUD), Serbia &   

                        Montenegro

2000            157 Ecuador(ized-USD)

2001            156 El Salvador (ized-USD)

2002  191   157 Switz'lnd, Timor-Leste (ized-USD)

2002           146  European Monetary Union (-11)

2006  192   146  Montenegro (uses euro)

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

2007            145  Slovenia

2008            143  Malta, Cyprus 

2008-2012  136  ? Czech Republic, Estonia,

                         Hungary, Latvia, Lithuania,

                              Poland, Slovakia

2010            131  ? Gulf Cooperation Council (-5)

2010            129 ? Kenya, Uganda &Tanzania (-2)

2018             119 ? S. African Dvlmt Council (-10)

2024                 1  ?

The 1994 "27" were

5  Eastern Caribbean Currency Union: Antigua and Barbuda,

    Commonwealth of Dominica, Grenada (joined 1968), St Kitts and

    Nevis, St Lucia, and St Vincent and The Grenadines. (6 countries

    minus 1 currency = 5)  Two other members of the ECCU,

   Anguilla and Montserrat, are not U.N. members.

6  WAEMU (West African Monetary Union): Benin, Burkima Faso,

   Cote d'Ivoire, Mali (left in 1962 but rejoined in 1984), Niger,

   Senegal and Togo (7 countries minus 1 currency = 6) (Guinea-

    Bissau joined in 1997 to bring the current total to 8.)

5 CAEMC (Central African Economic and Monetary Community):

   Cameroon, the Central African Republic (C.A.R.), Chad, the

   Republic of the Congo (Congo-Brazzaville, Equatorial Guinea

   (joined in 1985 and is the only non-former-French colony), and

    Gabon. (6 countries minus 1 currency = 5)
1  Singapore/Brunei

3  Ized to U.S. Dollar: Marshall Islands, Micronesia, Panama

3  Ized to pre-euro currencies: Andorra and Monaco (French Franc),

    San Marino (Lira)

1  Ized to the Swiss Franc: Liechtenstein

3  The Common Monetary Area, established in 1974, has four  

   members: Lesotho, Namibia, South Africa and

   Swaziland. Each has its own currency, but the Rand is legal

    tender in all four. Botswana was a member until 1976 (4 countries       minus 1 currency = 3)

 

 



Country Currency  Comments
Afghanistan Afghani 1
     
Albania Lek 1
     
Algeria Dinar 1
       
Andorra Euro 0 "euroized"  Located between France and Spain.
     
Angola Kwanza 1
Antigua & Barbuda E.C. Dollar 1 The count (1) is for this first of 6 countries in the Eastern Caribbean Monetary Union.  For each of the remaining countries, the count will be zero (0).
     
Argentina Peso 1
     
Armenia Dram 1
     
Australia Dollar 1
       
Austria Euro 1 The count (1) is for this first of the twelve countries in the European Monetary Union.  For each of the remaining eurozone countries, the count will be zero (0).
     
Azerbaijan Manat 1
     
Bahamas

Bahamian Dollar

1
       
Bahrain

Bahraini

Dinar

1 member of Gulf Cooperation Council. Considering monetary union with members
     
Bangladesh Taka 1
     
Barbados Bds Dollar 1
       
Belarus

Belarusian

Ruble

1 Considering monetary union with Russia in 2007.
       
Belgium Euro 0 European Monetary Union (EMU)
     
Belize

Belizean

Dollar

1
       
Benin CFA Franc 1 West Africa Economic & Monetary Union.  The count (1) is for this first of eight countries.  For the remaining WAEMU countries, the count will be zero (0).
       
Bhutan Ngultrum 1 and Indian Rupee
     
Bolivia Boliviano 1
     
Bosnia & Herzegovina Mark 1
     
Botswana Pula 1
     
Brazil Real 1
       
Brunei Darussalam Ringgit 1 Member of Monetary Union with Singapore, for which the count (#) will be zero.
       
Bulgaria Leva 1 see http://www.geocities.com/euroize/ for information on euroizing in Bulgaria.  Expected to join EU in 2007.
       
Burkina Faso CFA Franc 0 West Africa Economic & Monetary Union
     
Burundi

Burundi

Franc

1
     
Cambodia New Riel 1
       
Cameroon CFA Franc 1 Central African Economic and Monetary Union (CAEMU) The count (1) is for this first of six countries.  For the remaining CAEMU countries, the count will be zero (0).
     
Canada

Canadian

Dollar

1
     
Cape Verde Escudo 1
       
Central African Republic CFA Franc 0 Central African Economic and Monetary Union (CAEMU)
       
Chad CFA Franc 0 Central African Economic and Monetary Union (CAEMU)
     
Chile

Chilean

Peso

1
       
China Yuan 1 The yuan was pegged at 8.28 to the U.S. dollar, but in 2005 was pegged to a basket of currencies, and is now more flexible.  The Hong Kong dollar is pegged at 7.7 to the U.S. Dollar.
     
Colombia Peso 1
     
Comoros

Comoran

Franc

1
       
Congo , Repulbic of the CFA Franc 0 Central African Economic and Monetary Union (CAEMU)
     
Costa Rica Colon 1
       
Côte d'Ivoire CFA Franc 0 West Africa Economic & Monetary Union
     
Croatia Kuna 1
     
Cuba

Cuban

Peso

1
       
Cyprus

Cyprus

Pound

1 Became member of the European Union in May, 2004 and has committed to adopting the euro on a to-be-determined date, perhaps 1/1/08
       
Czech Republic Koruna 1 Became member of the European Union in May, 2004 and has committed to adopting the euro, on a to-be-determined date.
     
Dem. People's Rep. of Korea (North) Won 1
     
Dem. Republic of the Congo

Congolese

Franc

1
       
Denmark Krone 1 "Referendum vote in September 2000 was 53% against adopting the euro. A new referendum is anticipated, but not yet scheduled."
     
Dijibouti

Dijibouti

Franc

1
       
Dominica E.C. Dollar 0 Eastern Caribbean Monetary Union
     
Dominican Republic

Dominican

Peso

1
       
Ecuador U.S. Dollar 0 "dollarized", using the U.S. dollar as the sole currency
     
Egypt

Egypt

Pound

1
       
El Salvador U.S. Dollar 0 "dollarized", using the U.S. dollar as the sole currency
       
Equatorial Guinea CFA Franc 0 Central African Economic and Monetary Union (CAEMU)
     
Eritrea Nakfa 1
       
Estonia Kroon 1 Became member of the European Union in May, 2004 and has committed to adopting the euro, on a to-be-determined date.
     
Ethiopia Birr 1
     
Fiji Fiji Dollar 1
     
Finland Euro 0 European Monetary Union (EMU)
     
France Euro 0 European Monetary Union (EMU)
       
Gabon CFA Franc 0 Central African Economic and Monetary Union (CAEMU)
     
Gambia Dalasi 1
     
Georgia Lari 1
     
Germany Euro 0 European Monetary Union (EMU)
     
Ghana Cedi 1
     
Greece Euro 0 European Monetary Union (EMU)
       
Grenada E.C. Dollar 0 Eastern Caribbean Monetary Union
     
Guatemala Quetzal 1
       
Guinea-Bissau CFA Franc 0 West Africa Economic & Monetary Union
     
Guinea Guinean Franc 1
     
Guyana

Guyanese

Dollar

1
     
Haiti Gourde 1
     
Honduras Lempira 1
       
Hungary Forint 1 Became member of the European Union in May, 2004 and has committed to adopting the euro, on a to-be-determined date.
     
Iceland Krona 1
     
India Rupee 1
     
Indonesia Rupiah 1
     
Iran (Islamic Republic of) Rial 1
     
Iraq Dinar 1
     
Ireland Euro 0 European Monetary Union (EMU)
     
Israel Shekel 1
     
Italy Euro 0 European Monetary Union (EMU)
     
Jamaica

Jamaican

Dollar

1
       
Japan Yen 1  
     
Jordan Dinar 1
     
Kazakhstan Tenge 1
     
Kenya Shilling 1
       
Kiribati

Australian

Dollar

0 "dollarized" to Australian dollar.
       
Kuwait

Kuwaiti

Dinar

1 member of Gulf Cooperation Council. Considering monetary union with members
     
Kyrgyzstan Som 1
     
Lao People's Dem. Republic New Kip 1
       
Latvia Lat 1 Became member of the European Union in May, 2004 and has committed to adopting the euro, on a to-be-determined date.
     
Lebanon

Lebanese

Pound

1
       
Lesotho Loti 0 South African Rand is legal tender.
     
Liberia

Liberian

Dollar

1
     
Libyan Arab Jamahiriya Dinar 1
       
Liechtenstein Swiss Franc 0 "ized", to the Swiss Franc by 1980 Currency Treaty
     
Lithuania Litas 1
     
Luxembourg Euro 0 European Monetary Union (EMU)
     
Macedonia Denar 1
     
Madagascar Ariayry 1
     
Malawi Kwacha 1
     
Malaysia Ringgit 1
     
Maldives Rufiyaa 1
       
Mali CFA Franc 0 West Africa Economic & Monetary Union
       
Malta Lira 1 Became member of the European Union in May, 2004 and has committed to adopting the euro, on a to-be-determined date.
       
Marshall Islands US Dollar 0 "dollarized" to U.S. Dollar
     
Mauritania Ouguiya 1
     
Mauritius Rupee 1
     
Mexico

Mexican

Peso

1
       
Micronesia(Federtd States of) US Dollar 0 "dollarized" to U.S. Dollar
       
Monaco Euro 0 "euroized" euro as Monaco is within the boundaries of France
     
Mongolia Tugrik 1
       
Montenegro Euro 0 "euroized" euro, even before split from Serbia.
     
Morocco Dirham 1
     
Mozambique Metical 1
     
Myanmar Kyat 1
       
Namibia

Namibian

Dollar

0 South African Rand is legal tender.
       
Nauru

Australian

Dollar

0 dollarized to Australian Dollar
     
Nepal

Nepalese

Rupee

1
     
Netherlands Euro 0 European Monetary Union (EMU)
     
New Zealand NZ Dollar 1
     
Nicaragua Cordoba 1
       
Niger CFA Franc 0 West Africa Economic & Monetary Union
     
Nigeria Naira 1
     
Norway Krone 1
       
Oman Rial 1 member of Gulf Cooperation Council. Considering monetary union with members
     
Pakistan Rupee 1
     
Palau US Dollar 0 "ized" to the U.S. dollar
       
Panama US Dollar 0 "dollarized", using the U.S. dollar . Local currency is Balboa.
     
Papua New Guinea Kina 1
     
Paraguay Guarani 1
     
Peru New Sol 1
     
Philippines

Phillipine

Peso

1
       
Poland Zloty 1 Became member of the European Union in May, 2004 and has committed to adopting the euro, on a to-be-determined date.
     
Portugal Euro 0 European Monetary Union (EMU)
       
Qatar Riyal 1 member of Gulf Cooperation Council. Considering monetary union with members
     

Republic of Korea (South)

Won 1
     
Republic of Moldova

Moldovan

Leu

1
       
Romania New Leu 1 Expected to join EU in 2007
       
Russian Federation Ruble 1 Considering monetary union with Belarus in 2007.
     
Rwanda

Rwandan

Franc

1
       
Saint Kitts and Nevis E.C. Dollar 0 Eastern Caribbean Monetary Union
       
Saint Lucia E.C. Dollar 0 Eastern Caribbean Monetary Union
       
Saint Vincent &the Grenadines E.C. Dollar 0 Eastern Caribbean Monetary Union
     
Samoa Tala 1
       
San Marino Euro 0 "Euroized"  Country is entirely bounded by Italy.
     
Sao Tome and Principe Dobra 1
       
Saudi Arabia

Saudi

Riyal

1 member of Gulf Cooperation Council. Considering monetary union with members
       
Senegal CFA Franc 0 West Africa Economic & Monetary Union
       
Serbia Dinar 1 Serbia retains the dinar.  Separated from Montenegro in 2006 
     
Seychelles Rupee 1
     
Sierra Leone Leone 1
       
Singapore

Singapore

Dollar

0 in monetary union with Brunei
       
Slovakia Koruna 1 Became member of the European Union in May, 2004 and has committed to adopting the euro, on a to-be-determined date.
       
Slovenia Tolar 1 Became member of the European Union in May, 2004 and has committed to adopting the euro, on 1 January 2007.
     
Solomon Islands

Solomon

Islands

Dollar

1
     
Somalia

Somalian

Shilling

1
       
South Africa Rand 1 Considering further monetary union with Southern African nations. Currently the leader of the four nation Common Monetary Area, including Lesotho, Namibia and Swaziland.
     
Spain Euro 0 European Monetary Union (EMU)
     
Sri Lanka Sr. Rupee 1
     
Sudan Dinar 1
     
Suriname

Suriname

Dollar

1
       
Swaziland Lilangeni 0 South African Rand is legal tender.
       
Sweden Krona 1 An E.U. member, Sweden voted in September, 2003, not to join the euro.
       
Switzerland

Swiss

Franc

1 Should Switzerland join the eurozone?  See 2003 speech by Mr. Ulrich Kohli, Chief Economist, Swiss National Bank
     
Syrian Arab Republic

Syrian

Pound

1
     
Tajikistan Somoni 1
     
Tanzania, Republic of Shilling 1
     
Thailand Baht 1
       
Timor-Leste (formerly East Timor) US Dollar 0 dollarized to U.S. Dollar
       
Togo CFA Franc 0 West Africa Economic & Monetary Union
     
Tonga Pa'anga 1
     
Trinidad and Tobago T&T Dollar 1
     
Tunisia

Tunisian

Dinar

1
     
Turkey Lira 1
     
Turkmenistan

Turkmen

Manat

1
       
Tuvalu

Tuvalu

Dollar

0 And ized to Australian Dollar
     
Uganda

Ugandan

Shilling

1
     
Ukraine Hryvnia 1
       
United Arab Emirates Dirham 1 member of Gulf Cooperation Council. Considering monetary union with members
     
United Kingdom of Great Britain and Northern Ireland

Pound

Sterling

1
     
United States of America US Dollar 1
     
Uruguay

Uruguayan

Peso

1
     
Uzbekistan

Uzbekistani

Sum

1
     
Vanatu Vatu 1
     
Venezuela Bolivar 1
     
Viet Nam Dong 1
     
Yemen

Yemeni

Rial

1
     
Zambia Kwacha 1
     
Zimbabwe

Zimbabwe

Dollar

1