ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -US dollar (USD) Euro (EUR) 3. Japanese yen (JPY) British pound sterling (GBP) Chinese renminbi (CNH) Australian dollar (AUD) Canadian dollar (CAD) Swiss franc (CHF) More items •30-Jan-2023

Detailed explanation-2: -Euro (EUR) The euro is the second most traded currency with a daily average trading volume of almost $2.3 trillion. As the official currency of the European Union, it’s used by 19 of its member states and managed by the European Central Bank (ECB).

Detailed explanation-3: -Euro (EUR) The euro is the official currency of the European Union (EU) and the second most traded globally, accounting for a daily average volume of nearly US$1.1 trillion. It is issued by the European Central Bank (ECB).

Detailed explanation-4: -The Euro (EUR) is the official currency of the eurozone, which includes 19 of the European Union’s 27 member states. Following the US dollar, the Euro is the second largest reserve currency as well as the second most traded currency in the world. Currently, one Euro is worth Rs. 90.03.

Detailed explanation-5: -Such a high demand makes the US dollar the number one among currencies in the forex market, followed by the Euro, Japanese yen, and Pound sterling. These leaders are represented in the most traded pairs in the forex: EUR/USD, USD/JPY, GBP/USD, AUD/USD, USD/CAD, USD/CHF and their combinations.