Euro in Madrid. The euro was introduced to world financial markets as an accounting currency on 1 January 1999, replacing the former European Currency Unit (ECU) at a ratio of 1:1 (US$1.1743). Physical euro coins and banknotes entered into circulation on 1 January 2002, making it the day-to-day operating currency of its original members, and by March 2002 it had completely replaced the former currencies. While the euro dropped subsequently to US$0.83 within two years (26 October 2000), it has traded above the U.S. dollar since the end of 2002, peaking at US$1.60 on 18 July 2008. In late 2009, the
Chinese cash (currency unit) "wén" and written with the same character. In 1695, the Shogunate placed the character "gen" () on the obverse of copper coins. Vietnam gained independence from China in 938 and merely carried on the tradition of using cash. The first Vietnamese cash was issued in 968. Chinese cash (currency unit) The cash () was a currency denomination used in China in imperial times. It was the chief denomination until the introduction of the yuan in the late 19th century. The English term "cash" was first used on coins issued in Kwangtung (Guangdong) Province in 1900. It did not appear on