Title: The countries that don't have a currency of their own — Quartz
Headings: Here are all the countries that don’t have a currency of their own
Here are all the countries that don’t have a currency of their own
Countries that only use a foreign currency
Euro: Andorra, Kosovo, Monaco, Montenegro, San Marino, Vatican City.
Countries in a currency union
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Content: The CFA franc was created in 1945 to spare France’s colonies the pain that the post-World War II revaluation in the French franc would do to their much smaller economies. The CFA franc was set at fixed exchange rates against its French counterpart, and is now fixed against the euro. Alternatively…
Many places both officially and unofficially allow the trade of foreign currencies alongside their own. Residents from Belize to North Korea can spend in US dollars, for example. Panama has had the US dollar as legal tender since 1904, alongside the Panamanian balboa, and was viewed as a special case in Latin America because of the Panama Canal and its huge trade links with the world’s richest country. Others are usually based on relative economic might and regional proximities; Lesotho and Namibia also use South Africa’s rand and small islands like Tuvalu and Nauru use Australian dollars. Reuters/Nicky Loh
The yuan was pegged to the dollar until 2005. It has been slowly rising ever since. Many countries peg their currencies to another nation’s.