Marketplace®

Daily business news and economic stories
Season 4Episode 3Feb 21, 2023

Why do countries have different currencies?

And how easy is it to make money of your own? (Asking for a friend.)

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Why do countries have different currencies?
Camila Kerwin

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On a trip to Washington, D.C., Bridget and Ryan take this question from Oliver in Illinois: Why do different countries use different currencies? There’s the U.S. dollar, the Mexican peso and Japanese yen, just to name a few. This week, we’ll explain why so many countries decided to make their own type of money. And we meet the ghost of Alexander Hamilton, who has an important money lesson to share … through song.

 
Image of a globe with currencies from various countries.
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And now … tips for grown-ups listening to “Million Bazillion” with kids

Money Talks

After you listen to the episode, here are some questions you can ask kids about international currencies.

  • Name three world currencies.

  • What’s the most commonly used currency in the world?

  • Why do countries create their own money?

(Scroll down or click here for answers!)

Tip Jar

If you and your kids want to learn more about international currencies, here’s some extra material you might find helpful.

  1. To understand why we use money in the first place, check out Million Bazillion’s first episode: “Where did money come from?

  2. See what money around the world looks like with The World Map of Currencies.

Gimme 5

If you could create your own currency, what would it look like and what would it be called? Draw a picture and email it to millionbazillion@marketplace.org.

Money Talks Answers

  • Answers will vary.

  • The U.S. dollar.

  • To have greater control over their economy.

This episode is sponsored by Greenlight.  (For a limited time, get $10 when you sign up for a Greenlight account at greenlight.com/MILLION).

The Team

Thanks to our sponsors

NGPF

The Ranzetta Family Charitable Fund and Next Gen Personal Finance, supports Marketplace’s work to make younger audiences smarter about the economy. Next Gen Personal Finance is a non-profit that believes all students benefit from having a financial education before they cross the stage at high school graduation.

Greenlight

Greenlight is a debit card and money app for kids and teens. Through the Greenlight app, parents can transfer money, automate allowance, manage chores, set flexible spend controls and invest for their kids’ futures (parents can invest on the platform too!) Kids and teens learn to earn, save, spend wisely, give and invest with parental approval. Our mission is to shine a light on the world of money for families and empower parents to raise financially-smart kids. We aim to create a world where every child grows up to be financially healthy and happy. Today, Greenlight serves 5 million+ parents and kids, helping them learn healthy financial habits, collectively save more than $350 million to-date and invest more than $20 million.

Sy Syms Foundation

The Sy Syms Foundation: Partnering with organizations and people working for a better and more just future since 1985.