Which country had the first paper money? – Answer the following Which country had the first paper money? Correctly and Stand a chance to win Amazing Prizes Every Day.
Get the right Answer to the Which country had the first paper money? that you are looking for. In this article, you can find the right answer and Stand a chance to win awesome prizes in Amazon Quiz.
Which country had the first paper money?
Answer – China – It was under the Chinese Tang Dynasty in the early ninth century CE that the first paper money in the world was issued. The banknotes were known as “flying money” and were introduced for Silk Road traders who did not want to carry heavy metal coins. Instead, the traders would exchange their coins for a certificate worth the equivalent value which they could later redeem. The Chinese continued to use paper money in a number of guises and during the Ming Dynasty (1368-1644), there was an attempt to replace all coins with paper money, but the ploy failed due to hyperinflation. It was not until the 17th century that banknotes were issued as currency in Europe, and the first permanent banknotes were created by the Bank of England, which was established in 1694.:
Conclusion
I hope found the right Answer to Which country had the first paper money?. If you have any doubts, please let me know in the comments section right below.
| EliteAnswers Home | Click Here |