A currency (from Middle English curraunt, meaning in circulation) refers to money in any form when in actual use or circulation, as a medium of exchange, especially circulating paper money. This use is synonymous with banknotes, or (sometimes) with banknotes plus coins, meaning the physical tokens used for money by a government.
A somewhat more general definition in economics is that a currency is a system of money (monetary units) in common use, especially in a nation. Under this definition, British pounds, U.S. dollars, and European euros are different types of currency, or currencies. Currencies in this definition need not be physical objects, but as stores of value are subject to trading between nations in foreign exchange markets, which determine the relative values of the different currencies. Currencies in the sense used by foreign exchange markets, are defined by governments, and each type has limited boundaries of acceptance.
An even more general use of the word currency is anything that is used in any circumstances as a medium of exchange. In this use currency is a synonym for the concept of money.
Other articles related to "currency":
... Amero American currency union (hypothetical) Asian Currency Unit proposed for the ASEAN +3, or the East Asian Community Bancor an international currency proposed by John Maynard Keynes in the ... Sierra Leone, possibly Liberia) Khaleeji (currency) Gulf Cooperation Council (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, United Arab Emirates) Metica Mozambique (ne ... Caribbean guilder, the new currency for Curaçao and Sint Maarten for 2012 replacing the Netherlands Antillean guilder ...
... Digital currency exchangers (DCEs, independent exchange providers or e-currency exchangers) are market makers which exchange fiat currency for electronic ... Some digital gold currency accounts, such as e-gold, do not provide an in-house service to purchase their private currency so it is necessary to use a third-party ... does not possess currency of any nation or even have a bank account ...
... The current currency sign of Turkish lira was created by the Central Bank of the Republic of Turkey in 2012 ... "the anchor shape hopes to convey that the currency is a 'safe harbor' while the upward facing lines represent its rising prestige" ... of a new character U+20BA TURKISH LIRA SIGN for the currency sign, which was included in Unicode 6.2 released in September 2012 ...
... The first definitive record of currency use in Korea appears in the Goryeo period (918–1392) ... Early in that period, even though some imported Chinese currency was in circulation, commodity currency such as grain and linen continued in general circulation ... Sangpyeong Tongbo (상평통보, 常平通寶) were the most widely circulated currency ...
... A currency board is a monetary authority which is required to maintain a fixed exchange rate with a foreign currency ...
Famous quotes containing the word currency:
“There is no legislationI care not what it istariff, railroads, corporations, or of a general political character, that all equals in importance the putting of our banking and currency system on the sound basis proposed in the National Monetary Commission plan.”
—William Howard Taft (18571930)
“It is the international system of currency which determines the totality of life on this planet. That is the natural order of things today. That is the atomic, and sub-atomic, and galactic
structure of things today. And you have meddled with the primal forces of nature! And you will atone! Am I getting through to you, Mr. Beale?”
—Paddy Chayefsky (19231981)
“Both of us felt more anxiety about the Southabout the colored people especiallythan about anything else sinister in the result. My hope of a sound currency will somehow be realized; civil service reform will be delayed; but the great injury is in the South. There the Amendments will be nullified, disorder will continue, prosperity to both whites and colored people will be pushed off for years.”
—Rutherford Birchard Hayes (18221893)