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 ?
Apart from China, Malaysia, and Hong Kong, the rest of the Asian currencies do have some degrees of flexibility against the U.
Currencies collapse when a country tries to maintain a fixed currency.
Businesses will save money; the costs of changing currencies from country to country will be sharply reduced.
It's also convenient to have an accounting software package that handles business forms and prints checks in different styles, currencies and languages.
Unless one is engaged in competitive depreciation, there is little reason to keep a country's intervention plans secret from the governments responsible for the other major currencies.
at present may have been reluctant to do so before because of the complexities of dealing in multiple currencies.
It is a so expected that, during 1998, exchange rates between the eligible currencies and the euro will be permanently fixed.
dollar, while other regional currencies have been battered after being released to trade freely on foreign exchange markets.
Under the mandatory requirement, a three-year inflation rate of less than 100 percent can easily cause taxpayers operating in countries with highly volatile foreign currencies to bounce between hyperinflationary and non-hyperinflationary status.
The EITF consensus was hedge accounting may be used if the intercompany transactions are denominated in different functional currencies and if the hedging instrument has certain characteristics.
One of the world's largest currency managers, SSgA today manages more than CAD$83 billion in global currency portfolios (as of September 30, 2005) in all major base currencies.