currency(redirected from Means of exchange)
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Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
cashthe 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.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson
currencythe 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.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005