An in-depth look at the Chinese Yuan (CNY)
In this week’s article, we’ll take look at the history, the production and the economy that sits behind the Chinese Yuan, a currency we deal with a lot here at Cornerstone. epSos.de, CC BY 2.0, via Wikimedia Commons A bit of history… China is an ancient country and as such has had multiple currencies over […]
Yen currencies around the world
The Yen, Yuan and Won all share the same roots which were colloquial words for ‘Round’ that referenced the round silver dollar coins of the Spanish Empire. Historically, Spain had dominated this part of the world and their currency had over time become commonly used in vast parts of eastern Asia. The first formal Yen […]
How the IMF works
Headquartered in Washington DC, the International Monetary Fund (IMF) has been in operation for nearly 80 years. In the below article, we’ll look at its history and its role in today’s global economy. A new economic order… The IMF started life in the 1940s when the allies began to meet to discuss how to create […]
Shilling currencies around the world
The origin of the term Shilling is debated. Some believe it is based on the Old English term ‘Scilling’ which meant 1/20th of a pound. It was used in the time of Charlemagne back in the 700s. A shilling as a formal coin was first minted in 1500s England and in the Holy Roman Empire […]
How does the Bank for International Settlements work?
The Bank for International Settlements (BIS) is the world’s oldest international financial organisation. It plays a crucial role in fostering global monetary and financial stability. Many though have either never heard of the BIS or don’t understand fully what role it plays. We’ll look into this below. BIS HQ, Basel, Switzerland 90 years of supporting […]
Rial currencies around the world
The Rial/Riyal name is based on the Latin term ‘regalis’ which literally means royal. It shares a similar etymology to the ‘Real’ currency which can be found in Brazil and previously in Spain and Portugal which used the currencies called Real for many hundreds of years. Several Rial currencies use a Dinar or Dirham as […]
Rupee currencies around the world
The Rupee dates back thousands of years. It is thought to be based on the Sanskrit word rūpya which, when literally translated, means a round silver coin. The rūpya was used in Ancient India and has been the name for a multitude of currencies on the Indian subcontinent. It was the name of various British […]
An in-depth look at the UAE Dirham (AED)
The UAE Dirham is the currency of the United Arab Emirates. Below we’ll look at the currency’s history, its coins, banknotes and the economy that sits behind it. The Gulf Rupee was printed and managed by the Indian Government. The Pink 1 Rupee note was was one the most well known and used. A bit […]
Pound currencies around the world
Despite being prevalent in the British Isles and the former colonies of the UK, you may be surprised to learn that the term ‘Pound’ actually originates in the Roman Empire. The word Pound is based on the Latin word for a weight. Originally a Pound, therefore, was a weight of a wider currency. Think… a […]
How the WTO works
The World Trade Organisation is one of the world’s most significant intergovernmental organisations. Virtually every country in the world takes part and agrees to work within its framework. It’s sometimes easy though to get confused as to what the precise role the WTO plays in international trade. Below we’ll look at who the WTO are, […]