Currencies in the World Cup 2022
Back in June 2019, 206 international football teams embarked on the road to the FIFA World Cup 2022TM. Over the following three years 865 qualifying games were contested across the globe - producing 2,424 goals - to decide which 31 teams would join hosts Qatar at the tournament.
The wait is almost over for Qatar 2022 to kick off. Between 20th November and 18th December, the 32 nations - which have been divided into eight groups of four - will battle it out for the right to lift the trophy and call themselves world champions.
So, which countries have qualified for this truly global event and what currencies do they use?
Qatar (Hosts - Group A)
Will the hosts be undercooked when the tournament kicks off having qualified automatically? They’ll hope guest appearances at the 2019 Copa América and last year’s Concacaf Gold Cup will stand them in good stead.
Qatari riyal (QAR): Qatar used the Indian rupee as its currency, in the form of Gulf rupees, until 1966 when it chose to introduce its own currency, the Qatari riyal.
Ecuador (Group A)
Ecuador - who are preparing to take part in their fourth World Cup - were relieved to hear that FIFA dismissed claims by Chile that they had fielded an ineligible player during qualifying.
US dollar (USD): Ecuador adopted the US dollar on 13 April 2000 before eliminating the Ecuadorian sucre to stabilise the domestic economy.
Senegal (Group A)
Senegal starts the tournament with plenty of momentum having won the Africa Cup of Nations for the first time in their history this year.
West African CFA franc (CFA)
Netherlands (Group A)
Having finished runners-up to Spain in 2010, Louis van Gaal led the Netherlands to the semi-finals in Brazil four years later - then the unthinkable happened: they failed to qualify for Russia 2018. Van Gaal is back at the helm and will fancy his youthful side’s chances.
Euro (EUR): The euro is the official currency of 19 out of the 27 member states of the European Union (EU) - known as the eurozone - making it the most widely used currency in the world. It is the second most traded currency in the FX market.
England (Group B)
England’s recent form - including a 4-0 home defeat to Hungary - belies their status as one of the tournament favourites. Gareth Southgate will be confident his battle-hardened squad, which reached the semi-final in 2016 and finished runners-up at Euro 2020, can prove the doubters wrong.
Pound sterling (GBP): Sterling is the currency of the UK and nine of its associated territories. Known as the pound, it’s the fourth most-traded currency in the FX market.
Iran (Group B)
Iran, who will face England and Wales, are not expected to progress from group B, despite topping their qualifying group.
Iranian rial (IRR)
United States (Group B)
The USA entered qualification for the World Cup as the second top-ranked Concacaf side, but only snuck into the tournament automatically behind Canada and Mexico.
US dollar (USD): The official currency of the US is the most-traded currency in the FX market and the world’s primary reserve currency. Because of its widespread adoption, it accounts for around 88.3% of daily global trades.
Wales (Group B)
Star man Gareth Bale will spearhead a tight-knit, highly motivated squad at Wales’ first World Cup since 1958.
Pound sterling (GBP)
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Argentina (Group C)
Will Argentina end its 36-year wait to lift another World Cup? Unbeaten in qualifying and led by one of the greatest players of all time Lionel Messi, you wouldn’t bet against the Copa América champions.
Argentine peso (ARS)
Saudi Arabia (Group C)
Saudi Arabia, who face the might of Argentina in their opening match, are tipped to end up with the Group C wooden spoon.
Saudi riyal (SAR): The Saudi riyal is the 30th most-traded currency in the FX market.
Mexico (Group C)
Mexico qualified for its 17th World Cup with relative ease and will be hoping to join pre-tournament favourites Argentina in the knockout stage.
Mexican peso (MXN): The Mexican peso is the 16th most-traded currency in the FX market.
Poland (Group C)
Poland snuck into the World Cup through the back door after edging out Sweden in the playoffs. They will be hoping talisman Robert Lewandowski packs his scoring boots.
Polish złoty (PLN): The Polish złoty is the most-traded currency in Central and Eastern Europe and ranks as the 21st most-traded currency in the FX market.
France (Group D)
The reigning champions were less impressive at Euro 2020, crashing out on penalties to Switzerland in the second round. But with such a depth of talent at their disposal, they remain one of the tournament favourites.
Australia (Group D)
The Socceroos qualified the hard way, defeating the United Arab Emirates and Peru in the playoffs - triumphing against the South American side in a penalty shootout.
Australian dollar (AUD): The national tender of Australia is also used by its external territories and some Pacific island states. The AUD is the sixth-most traded currency in the FX market.
Denmark (Group D)
Denmark could be one of the tournament dark horses after storming through the qualifiers and defeating Group D rivals France in the Nations League.
Danish krone (DKK): The krone is the official currency of Denmark, Greenland, and the Faroe Islands. It is the 20th most-traded currency in the FX market.
Tunisia (Group D)
The 2022 Kirin Cup winners will face stiffer competition when the World Cup kicks off. They’ll have to negotiate a tough group to make it past the group stage for the first time.
Tunisian dinar (TND)
Spain (Group E)
The 2010 champions find themselves in the ‘group of death’ along with fellow World Cup heavyweights, Germany. Despite lacking a top-class striker, the potential of a new generation led by Pedri and Gavi is clear.
Costa Rica (Group E)
Los Ticos’s playoff victory against New Zealand secured their place in Qatar after narrowly missing out to the USA on goal difference in qualifying.
Costa Rican colón (CRC)
Germany (Group E)
Write the four-time winners off at your peril. Following an unremarkable showing at Euro 2020, Germany have rediscovered their identity under new coach Hansi Flick. Their eagerly anticipated Group E fixture against the might of Spain will gauge their progress.
Japan (Group E)
Japan finished second behind Saudi Arabia in the third round of Asian qualifying. The Blue Samurai have never progressed past the last 16, which they reached in 2002, 2010, and 2018.
Japanese yen (JPY): The yen is the third-most traded currency in the FX market.
Belgium (Group F)
Could this be the year Belgium’s now ageing ‘golden generation’ finally triumphs on the global stage? If they fail to deliver, the writing could be on the wall for some of the squad's elder statesmen.
Canada (Group F)
Canada secured their place at the World Cup for the first time since their sole appearance at the 1986 finals, after topping the Concacaf zone final qualifying standings.
Canadian dollar (CAD): The Canadian dollar is a popular currency for central banks to hold as foreign exchange reserves, due to Canada’s legal and political stability. It’s the seventh most traded currency in the FX market.
Morocco (Group F)
The Atlas Lions last tasted victory in a World Cup finals match at France 1998. With only a single point claimed in Russia four years ago - their first World Cup since - they will hope to emulate the class of 98.
Moroccan dirham (MAD)
Croatia (Group F)
The 2018 runners-up were dumped out of Euro 2020 in the last 16. They have regrouped since and will be hoping for one more big-tournament performance from veteran stars like Luka Modric, 36.
Croatian kuna (HRK)
Brazil (Group G)
The perennial favourites will be looking to put their 2021 Copa América final defeat to arch-rivals Argentina behind them by lifting the World Cup in Qatar. If they triumph it will end their 20-year wait for a sixth title.
Brazilian real (BRL)
Serbia (Group G)
Serbia displayed their pedigree by winning their qualifying group ahead of Euro 2016 winners Portugal.
Serbian dinar (RSD)
Switzerland (Group G)
A regular feature at international tournaments, but a rare participant in the latter stages, Switzerland faces a tricky group-stage draw.
Swiss franc (CHF): The Swiss franc, which acts as a safe haven for investors in periods of economic instability, is the eighth-most traded currency in the FX market.
Cameroon (Group G)
The Indomitable Lions will be hoping its talented squad can reach the knockout stages for the first time since 1990.
Central African CFA franc (CFA)
Portugal (Group H)
A stellar squad has been stuck in neutral since winning Euro 2016. Icon Cristiano Ronaldo will be itching to finally get his hands on the only major trophy that has eluded him.
Ghana (Group H)
The Black Stars, who beat Nigeria in a two-leg playoff in March to qualify, are in turmoil heading into the tournament after sacking two head coaches in 12 months.
Ghanaian cedi (GHS)
Uruguay (Group H)
The third-best South American nation following the single group CONMEBOL qualifying campaign will be relying on a blend of youth and experience.
Uruguayan peso (UYU)
South Korea (Group H)
Not fancied by most to progress through a tricky Group H that contains Portugal and Uruguay, South Korea will be hoping to spring a few surprises.
South Korean won (KRW)
24 World Cup Currencies
The 32 nations that are dreaming of winning football's ultimate prize use 24 different currencies between them. The football pitch is a lot like the FX market - with so many variables at play you must prepare to defend your position. A currency specialist can help you overcome this uncertainty.
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