Cognitive processing of currency: Euros and dollars

Abstract

In the current study, we evaluated whether the processing of currency was determined by familiarity of people with banknotes. In Experiment 1, participants who used the Euro currency named sequences of Euro banknotes and Dollar banknotes blocked by category or mixed with exemplars of other categories. The participants showed an interference effect in the blocked context with Dollar banknotes but not with Euro banknotes. In Experiment 2, the interference effect was observed with Euro banknotes when participants were not familiar with the Euro currency. These results suggest that the semantic processing of banknotes depends on the participants' familiarity with currency.