WEBVTT - Short Stuff: Currency Symbols

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<v Speaker 1>Hey, and welcome to the short stuff. I'm Josh and

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<v Speaker 1>there's Chuck and Jerry's here too, sitting in for Dave.

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<v Speaker 1>So this is short stuff. And Chuck, we've talked so

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<v Speaker 1>much about currency over the years, but we've never talked

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<v Speaker 1>about this. And I think it's high time. This is

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<v Speaker 1>a good pick for you.

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<v Speaker 2>Thank you. We're talking about currency symbols and what they

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<v Speaker 2>mean and where they came from. And we'll start with

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<v Speaker 2>the dollar. We're looking at you, United States and Canada

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<v Speaker 2>and Namibia, New Zealand and 17 other countries that use

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<v Speaker 2>the dollar. It comes from the Spanish peso, apparently, which

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<v Speaker 2>has been around since the 15th century. The peso de

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<v Speaker 2>ocho or pieces of eight.

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<v Speaker 1>Did not know that.

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<v Speaker 2>And the eventual United States would model their dollar after

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<v Speaker 2>the peso.

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<v Speaker 1>Did not know that either. And in fact, Chuck, they

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<v Speaker 1>think that the dollar sign came from people abbreviating the

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<v Speaker 1>word peso. They would say P.S. And somebody eventually was like,

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<v Speaker 1>you know what? I can really save some space. if

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<v Speaker 1>I wrote the S over the P, someone else came

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<v Speaker 1>along and said, you know what? We could save even

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<v Speaker 1>more space if we got rid of the round part

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<v Speaker 1>of the P. And someone else said, oh my God,

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<v Speaker 1>you guys just created a dollar sign.

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<v Speaker 2>That's right. That first appeared in print as the dollar

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<v Speaker 2>sign after 1800. And there are three iterations. I guess

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<v Speaker 2>the first PS was the first one. The single stroke

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<v Speaker 2>through the S was the second one. And then as

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<v Speaker 2>all elementary school children know and love the double vertical

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<v Speaker 2>lines through the S is yet another version.

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<v Speaker 1>I've always, I've never really thought it out loud, but I,

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<v Speaker 1>I've always thought of that as meaning like now you're

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<v Speaker 1>talking real money. So you have to put two, two

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<v Speaker 1>vertical lines through it.

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<v Speaker 2>Yeah. Oh, that's funny.

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<v Speaker 1>But yes, so that you could call the Randian version.

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<v Speaker 1>Cause I ran, took a crack at it and just

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<v Speaker 1>made up this idea that the two lines are actually a,

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<v Speaker 1>S over a U and someone got rid of the

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<v Speaker 1>loopy bottom of the U and that U and S

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<v Speaker 1>stood for United States. And that's where the double line

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<v Speaker 1>dollar sign came from. And everybody's like, good try, Ayn Rand.

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<v Speaker 1>Those two vertical lines going through some sort of symbol

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<v Speaker 1>is actually pretty common among currencies. Yeah.

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<v Speaker 2>And P.S., you just made that up.

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<v Speaker 1>Exactly. P.S., I love you. P.S.

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<v Speaker 2>I love you. So, like I said, there are 20

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<v Speaker 2>countries that use the dollar sign. And how you designate

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<v Speaker 2>it is with the abbreviation or, I guess, the initials

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<v Speaker 2>for the country before, like U.S. dollar, C.A. for Canadian dollar, etc.

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<v Speaker 1>Yeah. I think that's such a great burn that Canada

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<v Speaker 1>adopted the dollar and abandoned the pound. Way to go, Canada.

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<v Speaker 2>Should we move on to the euro?

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<v Speaker 1>Yes, because that's a very, very new currency. One of

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<v Speaker 1>the newest currencies. It was the euro wasn't around until

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<v Speaker 1>the 21st century in 2002. Yeah. Yeah.

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<v Speaker 2>The EU had been around since 1992 when 12 European

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<v Speaker 2>countries got together to form that body the following year. And,

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<v Speaker 2>you know, creating a single currency was one of the

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<v Speaker 2>things behind it.

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<v Speaker 1>Yeah, it was a big deal. The symbol itself is

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<v Speaker 1>it's a curvy E. And then it has two horizontal

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<v Speaker 1>lines going through it. And that's based on the Greek

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<v Speaker 1>letter epsilon or E essentially, which is E in English.

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<v Speaker 1>E is the first letter in Europe. You're starting to

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<v Speaker 1>get this now.

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<v Speaker 2>There you go.

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<v Speaker 1>The two lines represent stability. And then very mysteriously, the

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<v Speaker 1>Euro designer has never been revealed by the EU. I

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<v Speaker 1>suspect it's because it's an American and they hadn't looked

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<v Speaker 1>into the person's background yet. when they hired him. And

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<v Speaker 1>I also suspect that that American is Eddie Money, which

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<v Speaker 1>is why they hired him in the first place, but

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<v Speaker 1>they didn't realize he was American.

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<v Speaker 2>That's funny. He had two tickets to paradise and two

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<v Speaker 2>strokes through a E. Yeah.

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<v Speaker 1>He strokes it to the east, strokes it to the west.

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<v Speaker 2>Like I said, that was launched in 2002. And originally

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<v Speaker 2>there were seven banknotes and eight coins in And the

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<v Speaker 2>banknotes are identical everywhere. But I did not know this

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<v Speaker 2>because I haven't been there since the Euro, actually. Or

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<v Speaker 2>have I? Yes, I have. The coins have a common

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<v Speaker 2>design on one side and each country has their own

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<v Speaker 2>design on the flip side.

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<v Speaker 1>Yeah, I think that's sweet.

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<v Speaker 2>Pretty cool.

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<v Speaker 1>It's like, don't forget about your heritage. The UK was

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<v Speaker 1>part of the EU for a long time. It was

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<v Speaker 1>one of the founding members in 1992. And in 2020,

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<v Speaker 1>it left. I didn't know that. Did you?

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<v Speaker 2>They Brexited.

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<v Speaker 1>Yeah, I know. I'm just kidding. They kept the pound

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<v Speaker 1>the entire time, though. They're like, yeah, we helped found

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<v Speaker 1>the EU, but we're not adopting the euro. And actually,

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<v Speaker 1>I agree with this for good reason. The pound sterling

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<v Speaker 1>is the oldest living continuous currency in the world. And brother,

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<v Speaker 1>it is old. Yeah.

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<v Speaker 2>They're like, we're not going to flush that down the

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<v Speaker 2>toilet for your fancy new money.

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<v Speaker 1>Why would you?

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<v Speaker 2>It's super old. I think 928 CE. Is that right? Yep. Well,

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<v Speaker 2>that's when it was officially adopted by King Athelstan.

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<v Speaker 1>Yeah.

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<v Speaker 2>But they apparently had been in circulation even before that

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<v Speaker 2>and accepted like the pound sterling, which I think originally

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<v Speaker 2>was like one pound of silver.

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<v Speaker 1>Yeah.

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<v Speaker 2>Equals whatever this note is worth.

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<v Speaker 1>I don't know where you got this one, but I

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<v Speaker 1>love this sentence that no one's sure where the term

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<v Speaker 1>pound sterling originated. But experts agree it has some connection

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<v Speaker 1>to weight in silver. Yeah.

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<v Speaker 2>Do you think I answered it?

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<v Speaker 1>You know what? I could have said that, too. And

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<v Speaker 1>I'm not even a currency expert.

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<v Speaker 2>Yeah. And of course, the pound symbol, I guess it

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<v Speaker 2>looks sort of like if an F and an L

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<v Speaker 2>had a baby.

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<v Speaker 1>Oh, yeah, good one. A lowercase F.

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<v Speaker 2>Yeah, lowercase F.

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<v Speaker 1>Yeah, for sure. It's really hard to do by hand,

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<v Speaker 1>I've found.

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<v Speaker 2>Oh, I have never tried to write that.

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<v Speaker 1>But the L is for Libra, which is Latin for

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<v Speaker 1>scales or balances, because, again, this has to do with

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<v Speaker 1>weighing in silver. And the slash through it is a

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<v Speaker 1>mystery from what I can tell.

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<v Speaker 2>Yeah, I don't think anyone knows.

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<v Speaker 1>No. Which is good enough for me. I mean, keep

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<v Speaker 1>it mysterious a little bit, pound sterling. Yeah.

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<v Speaker 2>And, you know, no other nation uses the pound sterling.

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<v Speaker 2>But there are some former British colonies who have a

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<v Speaker 2>pound that's just not the pound sterling. Like you can

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<v Speaker 2>have a Nigerian pound.

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<v Speaker 1>Right. Or an Egyptian pound. Yeah.

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<v Speaker 2>And it's the same symbol. But they have, again, the

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<v Speaker 2>designation with the letter of the country.

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<v Speaker 1>Okay. I say that we take a break and come

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<v Speaker 1>back and talk about some other currencies around the world

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<v Speaker 1>and their symbols.

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<v Speaker 2>Let's do it.

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<v Speaker 1>Okay, Chuck. I feel like a total schmo because I

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<v Speaker 1>forgot to ask Yumi about this very surprising statement in

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<v Speaker 1>this article that the Japanese yen... is pronounced N in Japanese.

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<v Speaker 1>I have never heard that before. I couldn't find it

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<v Speaker 1>anywhere else. And I meant to ask you me, and

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<v Speaker 1>I failed to. So I'm sorry about that. Yeah.

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<v Speaker 2>It seems dubious to me, because this came from HowStuffWorks.com,

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<v Speaker 2>by the way. And it says that they found that

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<v Speaker 2>people from other countries pronounced it as Yen, And that's

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<v Speaker 2>why they put the Y in there. But the only

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<v Speaker 2>reason I say that is because there is a Y

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<v Speaker 2>in there.

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<v Speaker 1>It's just wrong.

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<v Speaker 2>So I can't figure it out.

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<v Speaker 1>No, I think there's nothing to figure out. And I'm

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<v Speaker 1>glad I didn't ask you, because I think she would

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<v Speaker 1>have looked at me like I was an idiot.

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<v Speaker 2>Well, at any rate, the symbol for the Yen is

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<v Speaker 2>a capital Y, again, with two horizontal lines running through it,

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<v Speaker 2>through the stem, that is. And sometimes a single horizontal line,

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<v Speaker 2>just like the dollar and some others. And it's the

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<v Speaker 2>same thing as... the Chinese symbol for its, how would

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<v Speaker 2>you pronounce that?

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<v Speaker 1>Yuan.

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<v Speaker 2>The Yuan.

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<v Speaker 1>Okay.

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<v Speaker 2>That's what I thought.

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<v Speaker 1>Yep. But they have a different currency system, the renminbi,

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<v Speaker 1>and the Yuan is actually like a denomination of it,

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<v Speaker 1>but everybody, including the Chinese, call it the Yuan. But

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<v Speaker 1>because they use the same symbol, there's the CN and

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<v Speaker 1>then the Y symbol for the Chinese Yuan and the

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<v Speaker 1>JPY symbol for the Japanese Yen. And this is true.

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<v Speaker 1>If you go to Japan today, you better bring a

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<v Speaker 1>lot of cash because there are a lot of independent businesses, restaurants,

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<v Speaker 1>that kind of thing. Especially the further you get out

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<v Speaker 1>of a city, that will be like cash only, buddy.

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<v Speaker 1>And we don't have an ATM.

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<v Speaker 2>I love that. MS Cash. What does Japanese cash look like?

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<v Speaker 2>Is it cool? Do you remember?

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<v Speaker 1>I don't remember. No.

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<v Speaker 2>All right.

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<v Speaker 1>I'm sorry. It's been... God. I think the last time

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<v Speaker 1>I was there was 2013. So, you know, give me

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<v Speaker 1>a break. Yeah.

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<v Speaker 2>I still have some Canadian cash in my purse, by

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<v Speaker 2>the way.

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<v Speaker 1>Yeah.

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<v Speaker 2>Yeah. And every time I'm at the airport, I forget

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<v Speaker 2>to go by the old Cambio. So maybe I'll just

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<v Speaker 2>wait till I'm back in Canada and I'll spend that,

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<v Speaker 2>invest in my friends from the north.

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<v Speaker 1>Two things, Chuck. I think that your bank that you

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<v Speaker 1>have like a regular account with will convert that for you.

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<v Speaker 2>I wondered about that.

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<v Speaker 1>And well, three things. Number two, if you do it

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<v Speaker 1>at the airport, you're going to get completely ripped off. Yeah.

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<v Speaker 1>The bank will totally rip you off. Number three, I'm

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<v Speaker 1>so glad you brought that up because Canada just announced

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<v Speaker 1>that their new $ 5 bill has Terry Fox on it.

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<v Speaker 2>Oh, no way.

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<v Speaker 1>It's awesome looking, too.

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<v Speaker 2>Oh, well, I'm definitely not getting rid of this cash.

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<v Speaker 2>I'll just go trade it in for Terry Fox Fivers.

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<v Speaker 1>There you go.

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<v Speaker 2>Spin some of those on some maple syrup and Montreal

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<v Speaker 2>bagels and then pocket one just to keep forever.

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<v Speaker 1>Very nice. And then drink a Molson Golden and then

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<v Speaker 1>promptly vomit. All right.

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<v Speaker 2>You want to finish up with the rupee?

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<v Speaker 1>Yes, it also is a very, very old currency, but

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<v Speaker 1>it hasn't been in continuous use like the pound has.

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<v Speaker 1>But it dates back to about 2600 years ago, which

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<v Speaker 1>makes it even more strange that it didn't have its

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<v Speaker 1>own symbol like a dollar sign until 2010 when they

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<v Speaker 1>held the design contest. And this designer was named Professor D.

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<v Speaker 1>Udaya Kumar, who is a professor in design, produced the

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<v Speaker 1>winning symbol for the rupee.

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<v Speaker 2>Yeah, prior to that, it had always just been R-S

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<v Speaker 2>or R-E. It was denoted by letters. But how would

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<v Speaker 2>you describe, you know, I encourage people, if it's safe

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<v Speaker 2>to do so, to look up the symbol for the rupee,

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<v Speaker 2>but how would you describe this?

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<v Speaker 1>I don't think it's safe. Like, I don't think you're

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<v Speaker 1>going to get malware or anything.

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<v Speaker 2>No, I mean if you're driving in a car or something.

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<v Speaker 2>Come on.

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<v Speaker 1>Okay, make an R, capital R.

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<v Speaker 2>Okay.

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<v Speaker 1>Lop the top part off so it's just flat. Oh, okay.

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<v Speaker 1>And then lop the front bubble part off and then

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<v Speaker 1>get rid of the back stem.

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<v Speaker 2>Okay.

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<v Speaker 1>Now add another line. So there's two lines. And then

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<v Speaker 1>the bottom coming out of the R. That's essentially it.

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<v Speaker 1>I'm going to try five or six different ways if

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<v Speaker 1>you'll bear with me. No. No.

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<v Speaker 2>So apparently it has elements from a script used to

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<v Speaker 2>write a lot of Indian languages that Devanagara, and then

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<v Speaker 2>also Roman and Latin scripts. And the Devanagara is Ra

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<v Speaker 2>for rupiah, and the Roman letter R for the English

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<v Speaker 2>word rupee. And those parallel lines represent the tricolored flag

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<v Speaker 2>of India, as well as the equal symbol.

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<v Speaker 1>Booyah. You can also find rupees in Indonesia, the Maldives, Nepal, Pakistan,

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<v Speaker 1>and Sri Lanka, among others. But they don't use that

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<v Speaker 1>R symbol, the 2010 R rupee symbol.

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<v Speaker 2>That's right.

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<v Speaker 1>Chuck, I feel like that's about it. We've covered literally

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<v Speaker 1>every single currency in the entire world. So I think

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<v Speaker 1>short stuff is out. It's out.

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<v Speaker 2>Stuff You Should Know is a production of iHeartRadio. For

0:12:52.370 --> 0:12:56.500
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0:12:56.630 --> 0:12:58.459
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