Search results
Results From The WOW.Com Content Network
Shell money is a medium of exchange similar to coin money and other forms of commodity money, and was once commonly used in many parts of the world. [1] Shell money usually consisted of whole or partial sea shells, often worked into beads or otherwise shaped. The use of shells in trade began as direct commodity exchange, the shells having use ...
Monetaria moneta, common name the money cowrie, is a species of small sea snail, a marine gastropod mollusk in the family Cypraeidae, the cowries. [ 1 ] This species is called "money cowrie" because the shells were historically widely used in many Pacific and Indian Ocean countries as shell money before coinage was in common usage.
Today, inflation often creates a demand for more stable (but forbidden) foreign currency, while in rural areas the original bartering system is still in widespread usage. As of 1 March 2019, the Libyan dinar (LYD) has the strongest currency in Africa.
Use as shell money. In parts of Asia, Africa and the Middle East, Monetaria annulus, the ring cowry, so-called because of the bright orange-colored ring on the back or upper side of the shell, was commonly used as shell money much like Monetaria moneta. Occasionally the ring part on its back would be hammered away, making it nearly ...
1742 drawing of shells of the money cowrie, Monetaria moneta Cowrie shells The shells of cowries are usually smooth and shiny and more or less egg-shaped. The round side of the shell is called the Dorsal Face, whereas the flat under side is called the Ventral Face, which shows a long, narrow, slit-like opening (), which is often toothed at the edges.
Dahabshiil (Somali: Dahabshiil, Arabic: دهب شيل) is a Somali funds transfer company, and is the largest money-transfer business in Africa. [1] It's headquartered in Burao , Somalia. [ 2 ] Formed in 2004, the firm operates from over 24,000 outlets and employs more than 2,000 people across 126 countries. [ 3 ]
Usage of: West African CFA franc (XOF) Central African CFA franc (XAF) The CFA franc (French: franc CFA, [fʁɑ̃ seɛfɑ]) is the name of two currencies used by 210 million people (as of 2023) in fourteen African countries: the West African CFA franc (where "CFA" stands for Communauté Financière Africaine, i.e. "African Financial Community" in English), used in eight West African countries ...
v. t. e. Fiat money is a type of currency that is not backed by a precious metal, such as gold or silver, or backed by any other tangible asset or commodity. Fiat currency is typically designated by the issuing government to be legal tender, and is authorized by government regulation. Since the end of the Bretton Woods system in 1971, the major ...