The world's Top 10 Currencies

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Sovereign currencies, which are national currencies that are held either at the central bank or at payment institutions where deposits are 100% backed by central bank reserves, are as diverse in their value and purpose as the nations which issue them.

Perhaps over the past few years, the differential in value between the most commonly used currencies in the world has been in the public spotlight more than usual, largely because, like any financial instrument, the most used and most commonly traded currencies are often the least volatile.

For almost three decades, the currency markets have been considered to be very stagnant, giving rise to an overall notion that the 'major' currencies – those in which most of the world's foreign transactions are denominated – had not varied in value that much against each other.

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