currency - american australian brazil british euro 2020 April Updated

A currency (from the middle English: curraunt, "in circulation", from Latin: currens, -entis), in the most specific sense, is money in any form when it is in use or circulation as a medium of exchange, especially banknotes and circulating coins . A more general definition is that a currency is a system of money (monetary units) in common use, especially for people in a nation. Under this definition, US dollars (US $), British pounds (£), Australian dollars (A $), European euros (€), Russian rubles (₽) and Indian rupees (₹) are examples of currencies. These various currencies are recognized as value deposits and traded between nations in the currency markets, which determine the relative values ​​of the different currencies. Currencies in this regard are defined by governments, and each type has limited acceptance limits.

Other definitions of the term "currency" are discussed in their respective synonyms articles of bills, coins and money. The last definition, [necessary clarification] concerning the monetary systems of nations, is the subject of this article. Currencies can be classified into two monetary systems: fiat money and commodity money, according to what guarantees the value of the currency (the economy in general versus the physical reserves of government metals). Some currencies are legal tender in certain political jurisdictions. Others are simply exchanged for their economic value. The digital currency has emerged with the popularity of computers and the Internet.
currency - american australian brazil british euro