currency

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Related to Market currency: Exchange rates

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 ?
Dealers said the surge in black market currency rates stemmed from uncertainty in the crumbling economy amid rumours of a forthcoming government freeze on wages and prices to curb record inflation and a possible devaluation of the local currency.
But a Canadian official, who summed up the talks, said, ``There was no feeling in the room it was at all feasible to curtail free market currency trading.
The Nigerian black market currency, which strongly rejected the efficiency hypothesis, had wrong signs for all the coefficients.
Because of the government's actions, the company's dollar-denominated liabilities nearly doubled to respond to the new market currency rate, while historical cost assets were still stated at the old "official" rate.