De Facto Currency
A de facto currency is a unit of money that is not legal tender in a country but is treated as such by most of the populace. The United States dollar and the European Union euro are the most common de facto currencies.
Read more about De Facto Currency: Euro, United States Dollar, Russian Ruble, South African Rand and Botswana Pula
Famous quotes containing the words facto and/or currency:
“The difference between de jure and de facto segregation is the difference open, forthright bigotry and the shamefaced kind that works through unwritten agreements between real estate dealers, school officials, and local politicians.”
—Shirley Chisholm (b. 1924)
“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 (1923–1981)