currency
Sign in to saveA currency is a standardized form of money, in use or circulation as a medium of exchange, for example banknotes, coins, electronic balances in bank accounts, and central bank digital currencies (CBDCs). A more general definition is that a currency is a system of money in common use within a specific environment over time, especially for people in a nation state. Under this definition, the Pound sterling (£), euro (€), Japanese yen (¥), and U.S. dollars (US$) are examples of (government-issued) fiat currencies. Currencies may act as stores of value and be traded between nations in foreign exch
AI overview
A currency is a standardized form of money—such as banknotes, coins, or digital balances—that people use to buy and sell goods and services within a specific community or nation. Currencies matter because they enable economic exchange and can be stored as value or traded between countries, making them essential to how modern economies function.
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Article
15 sectionsContents
- Early currency
- Coinage
- Paper money
- Banknote era
- Modern currencies
- Currency codes and currency symbols
- List of major world payment currencies
- Control and production
- Currency convertibility
- Alternative currencies
- Local currency
- See also
- Notes
- References
- External links
A currency is a standardized form of money, in use or circulation as a medium of exchange, for example banknotes, coins, electronic balances in bank accounts, and central bank digital currencies (CBDCs). A more general definition is that a currency is a system of money in common use within a specific environment over time, especially for people in a nation state. Under this definition, the Pound sterling (£), euro (€), Japanese yen (¥), and U.S. dollars (US$) are examples of (government-issued) fiat currencies. Currencies may act as stores of value and be traded between nations in foreign exchange markets, which determine the relative values of the different currencies. Currencies in this sense are either chosen by users or decreed by governments, and each type has limited boundaries of acceptance; i.e., legal tender laws may require a particular unit of account for payments to government agencies.
Other definitions of the term currency appear in the respective synonymous articles: banknote, coin, and money. This article uses the definition which focuses on the currency systems of countries (fiat currencies).