Near money (synonym: quasi-money) is a term used in economics to describe highly liquid assets that can easily be converted into cash.
Various sources provide the following examples of near money:
- Savings account
- Money funds
- Bank time deposits (certificates of deposit)
- Government treasury securities (such as T-bills)
- Bonds near their redemption date
- Foreign currencies, especially widely traded ones such as the US dollar, euro or yen.
- list of countries by stocks of quasi money.
Famous quotes containing the word money:
“I know of nothing more despicable and pathetic than a man who devotes all the hours of the waking day to the making of money for money’s sake.”
—John D. Rockefeller (1839–1937)