Ruled by Physics on Nostr: That graphic is wrong. France, Spain and Portugal never really was world reserve ...
That graphic is wrong.
France, Spain and Portugal never really was world reserve currency. Italian money was (Florines, Ducats), from Florence and Venice respectively, before the Dutch rule of trade and their Gulden.
Spain and Portugal was only important for the Latin American trade, gathering silver and gold to send to the Far East. France may have had a short period of currency dominance during Napoleon.
France, Spain and Portugal never really was world reserve currency. Italian money was (Florines, Ducats), from Florence and Venice respectively, before the Dutch rule of trade and their Gulden.
Spain and Portugal was only important for the Latin American trade, gathering silver and gold to send to the Far East. France may have had a short period of currency dominance during Napoleon.