Reserve currency before the beginning of the worldwide credit crunch related recession and Eurozone crisis, which harmed the euro and slowed its adoption. Since 2009, the reserve currency use of the euro has continued to drop, down to 23.9 percent in 2013. The Dutch guilder was the "de facto" reserve currency in Europe in 17th and 18th centuries. The United Kingdom's pound sterling was the primary reserve currency of much of the world in the 19th century and first half of the 20th century. The emergence of the USA as an economic superpower, and the establishment of the U.S. Federal Reserve System
International Convention for the Suppression of Counterfeiting Currency International Convention for the Suppression of Counterfeiting Currency The International Convention for the Suppression of Counterfeiting Currency () is a 1929 League of Nations treaty whereby states agree to criminalise acts of currency counterfeiting. It remains the principal international agreement on currency counterfeiting. States that ratify the Convention agree to criminalise the creation, use, and exportation or importation of counterfeit currency. Under the agreement, no distinction is to be made as to what currency is the subject of the crime. Under the treaty, currency counterfeiting is an extraditable offence. States also agree to establish a central office that will forward