Question
Download Solution PDFWhich European country was the first to introduce bank notes and was recently in the news to soon become the first cashless country in the world?
A. UK
B. Germany
C. Sweden
D. Switzerland
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFOption 1 is the correct answer: The first country in Europe to issue banknotes was Sweden.
- In 1661 StockholmBanco, Sweden’s first Bank issued the first banknotes in Europe.
- Those notes were issued as loans and could be used to buy anything.
- The first banknotes were issued in China during the 12th century AD.
- The invention of coins dates back to around 660 BC.
|
Country |
Currency |
|
United Kingdom |
Pound Sterling |
|
Germany |
Euro |
|
Sweden |
Swedish Krona |
|
Switzerland |
Swiss Franc |
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