Currency symbols represent the type of currency used and are designated by the country that produces the currency. They are not to be confused with the name of different types of money. Some symbols have been replaced by the introduction of the euro, and some symbols can be used to represent the money of more than one country. There are different ways to notate a currency symbol when used with a currency amount, and a generic currency indicator is expressed as ¤.
A currency symbol is a symbolic representation of the type of currency used, primarily designated by the country that produces the currency. Not to be confused with the name of different types of money. Euro or dollar are not symbols but real names. Instead, the symbol is a substitution for a symbol intended to indicate the name. For example, in the US we can use $ to indicate United States dollars (USD).
Not all countries have currency symbols, and some symbols from the past have been swept away by the introduction of the euro. For example, the common £ used to denote the British pound can now be replaced with €, the currency symbol for euros. similar for the French franc, £ for the Italian lira, all have been replaced by € per euro.
Sometimes a currency symbol can be used to represent the money of more than one country. For example, Canada and the United States use the $ sign for dollars. The symbols for the lira and the pound are almost identical. The US cent sign, ¢, is used in several countries to indicate fractions of money.
Both China and Japan use the ¥ symbol as their currency symbol. The symbol can refer to the yuan of China or the yen of Japan. Other Asian countries do not use this symbol. Thailand, as an example, uses, as a symbol of its currency called baht.
There are different ways to notate a currency symbol when used with a currency amount. Some countries place their symbol after the amount of money and others before it. In the US, Canada, and much of Latin America, symbols tend to come before the amount of money, with the exception of the ¢ sign, which tends to follow the amount. In Europe and other countries, the currency symbol can follow the amount of money. If something costs €20, you may see this written as €20, but in some countries the € can precede the amount of money.
There is also some dispute about how part of a euro is expressed. If something costs 20.50 in euros, this can be written as €20 50 or €20.50. Another expression that is equally common is €20.50, where a comma replaces the decimal point.
When you don’t know a country’s currency symbol or it doesn’t exist, there is a generic currency indicator. This is expressed as ¤. Not to be confused with similar currency symbols, such as the larger rectangle indicating the Paraguayan or Ghanaian Guarani currency.
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