FX fact: how many currencies are there?

MARKET NEWS

Forex traders may gripe about the reduction in numbers of tradable currencies, as currency unions and trading restrictions on some global currencies hit their money-making opportunities, but there are still plenty left to trade. While figures differ, most market participants agree on a figure of around 164 currencies in the world – that’s out of a total of 191 countries now recognised by the US State Department.

Many of those countries have adopted other countries’ currencies as their