Banknotes were invented by which ancient civilization?
Paper money, also known as banknotes, was invented by the Song Dynasty in China during the 11th century CE. This remarkable development occurred nearly 20 centuries after the earliest known use of metal coins1. The introduction of paper money revolutionized economic transactions and facilitated trade and commerce.
Here’s a brief overview of the history of money and the invention of paper currency:
In summary, the invention of paper money is attributed to the Song Dynasty in China, marking a significant milestone in the evolution of currency and economic systems1.