If you are ever wondered which country print money in the world? & where is money printed in the world? don’t worry, we are here to give you all the details with the help of the highest authorities.
We all are normal people so there is a good chance that we thought about this one question, which country print money in the world? can we print more and more and get rich quickly?
The explanation is very simple: Every nations prints their own money except those who has adopted the currency of another country.
But the answer is not as simple as it sounds.
As far as the data is collected, There are 11 countries that use the US dollar which means they have no longer their own currency.
The 12 European countries were replaced with the Euro. and the rest of the remaining countries, which are 175 nations have their own currency like CAD, JPY, SGD, CHF, AUD, GBP, INR, NPR, and more.
Even though 175 countries have their own currency, most countries don’t print their own money, which makes you wonder, what’s going on, and why they are not printing their own money.
Well, maybe they don’t have the required expertise or it’s just IMF regulations.
Before I jump into the where is money printed in the world?
Let’s check out the actual physical process of printing money in order to take advantage of beneficial circulation in the nation:
- Easy access
- Cost-efficiency of mass production,
- Special paper
- Fast cash
- Security features
- Quick circulation
- Quality control
But most countries use one of the third-party printers, or the treasury department of a major country, under the contract and they will print the money for the specific nation under the deal.
We’ll go through that, just in a second.
Most countries prefer outside printing because it’s expensive and difficult to print your own money in your country itself. There are a bunch of companies De La Rue that is involved in printing money.
It has existed for a few hundred years so they are more mature and have good technology and has developed credibility on security.
That’s why if you are a smaller country unlike the US, China, or India who can afford these things in their country itself.
It makes a lot of sense to outsource production. because it’s not going to be worth purchasing expensive technology if you only need a small number of notes.
Who prints money in the world?
Some countries, like India, do manufacture all their cash in the country itself. The US is also legally obliged to print its banknotes within its regions.
But a lot of countries except the 7 which I mentioned above print their money abroad, while others like Liberia don’t even have their own mint.
There are good amount companies out there that are highly specialized companies that make cash for most of the world’s currencies. Like one of the companies, De La Rue estimates the commercial print market makes up 11% of all banknotes produced.
The largest banknote producers are mostly in Europe and North America.
British company De La Rue produces cash for about 140 central banks. Every week it produces enough notes that if stacked up would reach the peak of Everest twice.
Its competitor, German company Giesecke & Devrient produces notes for roughly 100 central banks, while the Canadian Banknote Company and the US and Sweden-based Crane are also major players.
Although it’s a big business, it’s a somewhat secretive business too.
Article Source: Why countries print money outside their borders
It is believed that only a few countries print their own money exclusively which is happed on the country itself.
It takes high technology and specialist to do it, that’s why most nations don’t print their own money.
List of countries that print their own money:
- United States
- China
- India
- United Kingdom
- Japan
- Russia
- Canada
- Switzerland
- Mexico
- France
- Germany
- UAE
- Sweden
More than that:
- Algeria, Argentina, Australia, Austria, Bangladesh, Belgium, Brazil, Bulgaria, Bulgaria, Chile, Colombia, Cuba, Czech Republic, DR Congo, Denmark, Egypt, Greece, Hong Kong, Hungary, Indonesia, Iran, Ireland, Italy, Kazakhstan, Kenya, Laos, Malta, Morocco, Myanmar, Netherlands, Nigeria, Pakistan, Philippines, Poland, Portugal, Romania, Serbia, South Africa, South Korea, Spain, Sri Lanka, Sudan, Thailand, Taiwan, Turkey, Ukraine, Uzbekistan, Venezuela, Vietnam, Zimbabwe.
Source: List of banknote printers
Recent Posts
- 1-Day Shreenagar Palpa Visit
- Spicy Laphing Rising Popularity In Butwal
- Popular Treks In Nepal
- 10 Best F150 Bed Covers (2023 Review/Comparison)
- Some Of The Best Melin Hat Alternatives That You Can Buy TODAY…
- 10 Best way to use ATM in Europe | Important Tips for Everyone
- Best Places To Visit In Dubai, UAE
