Having dinar, a dram, and a kip: Money in Asia Quiz

Answer: Yen

The yen has been the currency of Japan since May 10, 1871, when it was adopted by the Meiji government. Through the "New Currency Act of 1871", the yen was introduced as a decimal currency made up of 100 sen or 1000 rin. However, due to several reasons, including the devaluation of silver, Japan no longer maintaining a gold exchange standard, and their involvement in World War II, the yen dropped in value, and sen and rin coins were removed from circulation in 1953. Today there are coins of 1, 5, 10, 50, 100 & 500 yen, and notes of 1000, 5000, and 10000 yen. I was surprised to see that the 5 & 50 yen coins have holes through the middle.

Answer: False

While both currencies are called the won and use the same symbol, you definitely can't use South Korean won in North Korea, nor vice versa. The South Korean Won was introduced in 1945, when the Korean peninsula was divided at the 38th parallel north.

It was made up of 100 jeon. However, the currency quickly devalued, most significantly during the time of the Korean War. In 1962, a new won was introduced made up of 10 hwan. The won became the only currency of South Korea in 1975, when the hwan was removed from circulation. On my visit to this country, I saw 1, 5, 10, 50, 100, & 500 won coins and 1000, 5000, 10000 and 50000 won notes.

Answer: piso

Although the currency of the Philippines is known internationally as the peso, its people use the word 'piso'. This is the word that is written on the local coins and banknotes. The piso is made up of 100 sentimo (or the original word 'centavo' which is still colloquially used). Coins come in denominations of 1, 5, 10, & 25 sentimo, 1, 5 & 10 piso. Like many other Asian currencies, the piso has significantly devalued since it was first used. Accordingly, coins valued under 1 piso are not commonly seen.

The most common notes are in denominations of 20, 50, 100, 200, 500 and 1000 piso. In 1998, a limited run of just a thousand 100000 piso notes were issued to celebrate 100 years of Philippine independence. This banknote holds the Guinness World Record for the largest legal tender note in terms of size.

Answer: Indonesia - Rupiah

Indonesia is indeed the country with the largest Muslim/Moslem population in the world, and is the fourth most populated country on earth. It is also the largest country in South East Asia, with over 17,000 islands spread out over approximately 1,919,440 square kilometres (741,096 square miles).

The Rupiah (commonly abbreviated to Rp) has been the currency of this nation since 1946, and is officially made up of 100 sen. However, economic hyperinflation has made sen and anything below 100 rupiah essentially worthless. Today, coins are commonly available in denominations of Rp100, Rp200, Rp500 & Rp1000. Notes come in denominations of Rp1000, Rp2000, Rp5000, Rp10000, Rp20000, Rp50000 & Rp100000.

When I visited Indonesia in 2015, I withdrew 1 million rupiah from an ATM which was equivalent to under US$100.

Answer: Timor-Leste / East Timor

Timor-Leste or East Timor is one of the newer countries in the world, finally gaining independence in 2002. The US dollar is the main currency used here, although in 2003, 'centavo' coins were introduced in denominations of 1, 5, 10, 25, 50 and 100 centavos.

These coins are pegged to US cents, with the 100 centavos coin equalling US$1. As there is no mint in Timor-Leste, the coins are minted in Portugal. The only banknotes used are US dollar notes. Unfortunately, around one third of the local people may not see the larger denomination notes very often, as they are living under the international poverty line of US$1.25 per day.

Answer: Abu Dhabi

Abu Dhabi uses the UAE dirham.

Although not the same as the US dollar, dollars are the main currency used in Singapore, Hong Kong, Taiwan, and Brunei. Singapore issued its first banknotes and coins in 1967, with the latest coins being minted in 2013. The notes currently in use were first produced from 1999. The Brunei dollar is on par with the Singapore dollar, as part of an "interchangeability agreement" between the two nations. The New Taiwan Dollar has been used in Taiwan since 1949 when it replaced the Old Taiwan Dollar. Currently circulating coins are available between 1/2 a dollar and 50 dollars, while notes range from 100 to 2000 dollars. Although Hong Kong is now officially part of the People's Republic of China, the Hong Kong dollar is still the money used. Currently circulating coins range from 10 cents to 10 dollars. Notes range from 10 dollars to 1000 dollars.

Answer: Vietnam

The Vietnamese dong has been the money used in the reunified nation of Vietnam since 1978. The dong was originally subdivided into smaller units called hao, and coins were produced in denominations of 1, 2 & 5 hao and 1 dong, but inflation quickly made these worthless. From this time, only banknotes were available for many years until coins were re-introduced in 2003 in denominations of 200, 500, 1000, 2000 & 5000 dong. Continuing rapid inflation led to lower value banknotes also being removed from circulation, and today, banknotes are available in denominations of 10000, 20000, 50000, 100000, 200000 & 500000 dong. All these zeroes did my head in.

It seems crazy, but I spent 38000 on a regular cappuccino when I visited in 2015. It didn't seem so bad when I worked out that the price was around US$3.

Answer: Laos - Kip

Laos is the only landlocked country in South East Asia. It is one of the remaining communist countries left in the world and has been called one of the world's most corrupt nations. The Kip has been the main currency of Laos since 1952. It was originally subdivided into 100 att. Coins were produced in 1952, but then not again until 1980. With the collapse of the USSR in 1991 and high inflation, coins were removed from circulation, and there are no coins in use today.

While smaller value banknotes were originally produced, notes today come in denominations of 500, 1000, 2000, 5000, 10000, 20000, 50000 and 100000 kip.

The US Dollar and Thai Baht are also used in Laos, particularly for higher value transactions.

Answer: Togrog

Mongolia is another landlocked country, lying between China and Russia. It is famous as the home of Genghis Khan and Kublai Khan and for having excellent horsemen. The togrog or tugrik was first introduced in 1925 and became the sole legal tender of the country in 1928.

The name 'togrog' refers to something round - e.g. a coin. It was originally subdivided into 100 mongo. Like many other Asian countries, devaluation of the currency meant that mongo became worthless. Today, coins are minted in denominations of 20, 50, 100, 200 & 500 togrog. Commonly used notes are in denominations of 10, 20, 50, 100, 500, 1000, 5000, 10000 and 20000 togrog.

The 10 togrog note is now almost worthless and only given as change.

Answer: som

The 'Stans' are made up of Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, Uzbekistan, Afghanistan & Pakistan. The first five of the above countries used to be part of the Soviet Union. Kyrgyzstan was the last of the ex-Soviet nations to cease using the ruble, introducing the som in 1993 at a rate of 1 som = 200 rubles.

The som is made up of 100 tyiyn. In 1993, banknotes were issued in denominations of 1, 10 & 50 tyiyn, 1, 5 & 20 som. In subsequent years, 50, 100, 200, 500, 1000 & 5000 som notes were issued. 1, 10 & 50 tyiyn, 1, 3, 5 & 10 som coins were introduced in 2008.

The 1 tyiyn coin is no longer in circulation. Uzbekistan also calls their currency the 'som' and Tajikistan's currency is called the 'somoni'. The word 'som' means "pure", and was a word used by Kyrgyz, Kazakh & Uzbek speakers to refer to the ruble.

Answer: Rupee

Yes, I'm in Delhi, the capital city of India, and I'm using rupees here. One Indian rupee was originally made up of 100 paise, but now only 50 paise coins are legal tender (and even then, are rare). Other common coins are in denominations of 1, 2, 5 & 10 rupees. Special commemorative coins have also been minted in denominations of 60, 75, 150 & 1000 rupees. Higher denominations tend to be issued as banknotes, such as 10, 20, 50, 100, and 500 rupees.

The amounts on Banknotes are written in the 17 different main languages used in India.

The rupee is also the name of the currency in Nepal, Pakistan & Sri Lanka.

Answer: Bangladesh

Bangladesh is a country that seems to be very poorly located for suffering from floods and tropical cyclones. Once thought of as one of the world's poorest countries, the economy of the country is improving and the country is now an active exporter of textiles, medicines, clothing and telecommunications products.

It is also a significant natural gas producer. The taka was introduced as the nation's currency in 1972, shortly after independence. The word 'taka' means "money" in Bengali. 1 taka is made up of 100 poisha. Coins were introduced in 1973 in denominations of 5, 10, 25 and 50 poisha, with 1 poisha and 1, 2 & 5 taka coins coming later. Poisha coins are now rarely seen. Banknotes being used in Bangladesh in 2015 range from 2 to 1000 taka.

Answer: dram

Yes, the currency of Armenia is the dram, and whisky is traditionally measured out in drams. The word 'dram' means "money" in Armenian. The first instance of the 'dram' being used for money in this area was way back in the 13th and 14th centuries. At that time, drams were silver coins.

The dram as it is used today was introduced as the currency of Armenia in 1993. At that time, 1 dram was made up of 100 luma. In 1994, coins in denominations of 10, 20, 50 luma, 1, 3, 5 & 10 dram were issued. Of these, only the 10 dram coin is still used.

In 2003-04, new higher value coins were minted in denominations of 10, 20, 50, 100, 200 & 500 dram. Banknotes were also introduced in 1993 and today, notes are available in denominations of 500, 1000, 5000, 10000, 20000, 50000 and 100000 dram.

The 500 dram note is rarely seen with the equivalent coin being used instead.

Answer: Oman

The dinar is the name of the currency in Iraq, Jordan, Bahrain & Kuwait. The 'rial' is used in Oman. All of the countries that use the dinar share borders except for Bahrain, which is just down the Persian Gulf from Kuwait. The name 'dinar' comes from the old Roman denarius. One dinar in each of the above countries is made up of 1000 fils.

In Jordan, 10 fils = 1 piastre and 10 piastres = 1 dinar. A piastre is also called a qirsh. Fils are no longer used in Iraq due to inflation making them worthless.

Answer: Turkey - Lira

My Asian journey ends in Turkey, where I am using the Lira. The lira was also the name of the currency used in Italy up until 2002, when Italians starting using Euros instead. The Turkish lira is used both in Turkey and the Turkish part of Cyprus. The lira first started to be used in this part of the world in 1844, under the Ottoman Empire.

The currency changed to become the Turkish Lira from 1923. From the middle of the 20th century until the start of the 21st, the value of the lira dropped sharply from US$1 = 9 lira in 1966 to US$1 = 1650000 lira in 2001.

It became the world's least valuable currency in 1995 & 1996 and again from 1999 to 2004, according to the Guinness Book of World Records. To deal with this, the Turkish national assembly re-denominated the lira in 2003, by removing 6 zeros, and the new lira started to be used from 2005.