What Is the Kazakhstan Tenge (KZT)? The Kazakhstan tenge (KZT) is the national currency of Kazakhstan. It was introduced in 1993, replacing the Russian ruble. Prior to its independence in 1991, Kazakhstan was a part of the Soviet Union. Key Takeaways The KZT is the national currency of Kazakhstan.Since 2009, the KZT’s value has steadily
What Is the Lao Kip (LAK) The term Lao kip (LAK) refers to the official national currency of Lao People’s Democratic Republic or Laos. It is abbreviated as LAK in the foreign exchange market and is represented by the symbols ₭ and ₭N. The currency is maintained by Laos’s central bank, Bank of the Lao
What Is the Latvian Lats (LVL)? The Latvian lats (LVL) was the national currency of the Republic of Latvia, a Baltic nation that is a member of the European Union. The LVL was used between 1993 and 2013. At the start of 2014, it was replaced by the euro. Key Takeaways The Latvian lats was
What Is the Libyan Dinar (LYD)? LYD is the currency abbreviation for the Libyan dinar, the official currency of Libya, a country located in Northern Africa. The Libyan dinar is often called jni or jenh locally in Libya. The abbreviation LYD is often used for the Libyan dinar in the foreign exchange market, which is where
What Are Major Pairs? The major pairs are the four most heavily traded currency pairs in the forex (FX) market. The four major pairs at present are the EUR/USD, USD/JPY, GBP/USD, USD/CHF. These four major currency pairs are deliverable currencies and are part of the Group of Ten (G10) currency group. While these currencies contribute a
What Is the MOP (Macanese Pataca)? The Macanese pataca (MOP) is the official currency of Macau. It is often presented with the symbol MOP$, as in MOP$100. Macau was formerly a Portuguese colony, and became a special administrative region (SAR) of China in Dec. 1999. Unlike most currencies, the pataca is not administered by a central
What Is the Mauritanian Ouguiya (MRO)? MRO is an abbreviation seen in the foreign exchange (forex) market for the Republic of Mauritania ouguiya (sometimes also spelled as the ougiya). Locally, it is denoted by ‘UM’. One ouguiya divides into five khoums. It has the rare distinction of being one of only two world currencies that are not
What Is the Maldivian Rufiyaa (MVR)? The Maldivian rufiyaa (MVR) is the national currency of the Republic of the Maldives. The rufiyaa is made up of 100 subunits, called laari, and is represented by the currency symbol Rf. The name rufiyaa is derived from the Hindi Sanskrit word rupya, meaning “silver.” Key Takeaways The Maldivian
What Is the Malawian Kwacha (MWK) The term Malawian kwacha (MWK) refers to the official national currency of Malawi. It is abbreviated as MWK in the foreign exchange (forex) market and is commonly represented by the symbol K. The currency is issued and maintained by Malawi’s central bank. One kwacha is divided into 100 tambalas.
What Is the Malaysian Ringgit (MYR)? The Malaysian ringgit is the currency of the Malaysian Federation. The currency abbreviation for the currency is RM, and the currency code is MYR. This is the code seen when requesting a currency quote, such as USD/MYR, which shows the rate of exchange between the U.S. dollar (USD) and
