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 periodicals archive ?
The banks will soon submit their specific recommendations to the governments of the two countries on using national currencies for making foreign trade settlements.
The Turkish officials and us are studying the possibility of using our national currencies in trade exchanges," the Iranian trade minister said in a meeting with a visiting Turkish delegation in Tehran on Wednesday.
The Agreement provides for a wider sphere of using the national currencies in terms of geography and spectrum of transactions, and, as well, cooperation towards opening direct trading in the currency pair of KZT/CNY.
The plan of mutual payments in national currencies is supported by Russia's Ministry of Economy, but talks about time frames has not been held yet.
Russian President Dmitry Medvedev, also as expected, told the SCO summit that the Shanghai group member states should increase the share of their national currencies in mutual settlements to reduce dependence on the dollar and improve the health of the global financial system.
Other members of the European Union, including the United Kingdom, Denmark, and Sweden, have opted to keep their national currencies.
dollars reflect the underlying national wage and benefit trends measured in national currencies, as well as frequent and sometimes sharp changes in currency exchange rates.
Will I still be able to use the national currencies after January 1, 2002?
An interim period from January 1st to February 28th 2002 will allow the use of both the Euro and old national currencies in all EMU countries.
The withdrawal of national currencies in the Euro Zone countries will happen on December 31, 2001.
But the "golden" name and the instant popularity of the new coin serve as a reminder of the valuable role that real gold has played throughout the centuries -- and still plays today -- in providing a stable foundation for national currencies.

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