currency


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Currency

Currency

Money generally accepted in circulation in a certain jurisdiction. That is, currency is any form of money that businesses in a certain jurisdiction will accept in exchange for goods and services. Usually, the domestic government sets its own currency and provides penalties to persons and businesses in its jurisdiction that do not accept it. However, some countries (especially those experiencing hyperinflation) accept other countries' currencies informally. Alternatively, a country may use the currency of another (as some countries have done with the U.S. dollar) or pool resources to make an international currency accepted in several countries (the euro being the most prominent example). See also: Foreign exchange.

currency

or

cash

the coins and bank notes which constitute the physical component of a country's MONEY SUPPLY, i.e. coins and notes have a physical identity, whereas the other assets comprising the money supply such as bank deposits, are book-keeping entries and have no tangible life of their own. See LEGAL TENDER, FOREIGN CURRENCY.

currency

the BANK NOTES and coins issued by the monetary authorities that form part of an economy's MONEY SUPPLY. The term currency’ is often used interchangeably with the term cash in economic analysis and monetary policy.
References in classic literature ?
Your namesake, Peter, was something like yourself; and, when the provincial currency had depreciated fifty or seventy-five per cent.
There were Babus to whom Lurgan Sahib talked with austerity and authority, but at the end of each interview he gave them money in coined silver and currency notes.
At a short distance beyond the suburbs of Vanity we passed the ancient silver mine, of which Demas was the first discoverer, and which is now wrought to great advantage, supplying nearly all the coined currency of the world.
The price of passage is fixed at $1,250, currency, for each adult passenger.
For though the origin of most of our words is forgotten, each word was at first a stroke of genius, and obtained currency because for the moment it symbolized the world to the first speaker and to the hearer.
And as counters of imitation gold can be used only among a group of people who agree to accept them as gold, or among those who do not know the nature of gold, so universal historians and historians of culture, not answering humanity's essential question, serve as currency for some purposes of their own, only in universities and among the mass of readers who have a taste for what they call "serious reading.
Moliere has a place in literature infinitely loftier than Goldoni's; and he has supplied types, characters, phrases, to the currency of thought, and Goldoni has supplied none.
She may justly feel, as part at least of the reward of a labour which must have occupied much time, so many of the freshest hours of mind and spirit, that she has done something to help her author in the achievement of his, however discouraged still irrepressible, desire, by giving additional currency to a book which the best sort of readers will recognize as an excellent and certainly very versatile companion, not to be forgotten.
It was not an easy matter, on the spur of the moment, to raise ten millions in paper currency, and there were vexatious delays.
For a mere puppy this offer was generous, because half a fathom of shell-money, strung on a thread of twisted coconut fibres, was equivalent in cash to half a sovereign in English currency, to two dollars and a half in American, or, in live-pig currency, to half of a fair-sized fat pig.
Besides which,' continued Mr Gregsbury, 'I should expect him, now and then, to go through a few figures in the printed tables, and to pick out a few results, so that I might come out pretty well on timber duty questions, and finance questions, and so on; and I should like him to get up a few little arguments about the disastrous effects of a return to cash payments and a metallic currency, with a touch now and then about the exportation of bullion, and the Emperor of Russia, and bank notes, and all that kind of thing, which it's only necessary to talk fluently about, because nobody understands it.
He called his book 'Le Morte Darthur,' The Death of Arthur, from the title of several popular Arthurian romances to which, since they dealt only with Arthur's later years and death, it was properly enough applied, and from which it seems to have passed into general currency as a name for the entire story of Arthur's life.