This currency was so valuable that its rule over the world continued for three hundred years. Before the rise of the British pound and the US dollar, it was considered the global currency of the world.

In fact, the US relied on his model to develop the dollar as a currency.

It was called the 'Real de Ocho' and was the first internationally used currency in modern history.

It was actually a silver coin issued by the Spanish Empire in the mid-16th century.

This was the time when Spain, rich with the wealth obtained from the colonial system of Latin America, had become a great power in the world.

The power of this currency can be gauged from the fact that when Spanish power began to decline, it continued to dominate the world until its sunset by the end of the nineteenth century.

The birth of a global currency:

The coin originated from a monetary revolution initiated by the Catholic Monarchs of Spain in 1497 when colonization began in Latin America.

Under this change, which was made part of monetary reforms, this silver coin was used for payment.

However, its popularity began in the middle of the 16th century, with the help of King Carlos I and Philip II of Spain.

The reigns of these two kings are remembered with golden words in the history of Spain when the European power was spreading around the world.

José María de Francisco Olmos is Professor of History at the University of Madrid.

He explains that coins were first minted in Latin America in 1535 because it was the best and easiest way to transport silver.

He states that this silver coin thus entered Europe along with a gold coin, called the onza, and that all agreed that it was very fine silver.

"Coin of the World and the Seas"

By the 18th century, the riad de ocha had become a global currency. It was a time when European powers were fighting each other in the battle for the Spanish throne.

At this time, Spain focused more on Latin America and took control of the 'Royal Mint' of Mexico.

After that, the Riyal was modernized and called the 'currency of the world and seas'.

This currency was also called 'Columnaria' because it featured the columns of Hercules with the two corners of the earth between them, symbolizing the extent of the Spanish Empire.

According to some experts, it was the most beautiful coin in the world.

Historian José María points out that the Atlantic trade route was important in the 15th and 16th centuries, but then trade in the Pacific became more important, based on the Spanish silver coinage and monetary system.

He says that the trade route was open in all directions from Latin America. From here this coin reached Asia where many countries including China, Japan and India also recognized it.

In some countries, the coin was stamped locally so that it could be used locally.