currency


currency
/kerr"euhn see, kur"-/, n., pl. currencies.
1. something that is used as a medium of exchange; money.
2. general acceptance; prevalence; vogue.
3. a time or period during which something is widely accepted and circulated.
4. the fact or quality of being widely accepted and circulated from person to person.
5. circulation, as of coin.
[1650-60; < ML currentia. See CURRENT, -ENCY]

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In industrialized nations, the portion of the national money supply (consisting of banknotes and government-issued paper money and coins) that does not require endorsement to serve as a medium of exchange.

Since the abandonment of the gold standard, governments have not been obligated to repay the holders of currency in any form of precious metal. Consequently, the volume of currency has been determined by the actions of the government or central bank and not by the supply of precious metals. In less-developed societies, or in times of economic scarcity, items such as livestock or tobacco (cigarettes) may serve as currency. See also coinage.

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      in industrialized nations, portion of the national money supply, consisting of bank notes and government-issued paper money and coins, that does not require endorsement in serving as a medium of exchange; among less developed societies, currency encompasses a wide diversity of items (e.g., livestock, stone carvings, tobacco) used as exchange media as well as signs of value or wealth. In the developed nations, where checks drawn on demand deposits are an important means of transaction, currency may actually account for only a small portion of the total money supply.

      Since the abandonment of the gold standard in the 1930s, governments have not been obligated to repay the holders of currency in any form of precious metal. Consequently the volume of currency is determined by the actions of the government or central bank and not by the supply of precious metals.

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Universalium. 2010.

Synonyms:

Look at other dictionaries:

  • Currency — Cur ren*cy (k?r r?n c?), n.; pl. {Currencies} ( s?z). [Cf. LL. currentia a current, fr. L. currens, p. pr. of currere to run. See {Current}.] 1. A continued or uninterrupted course or flow like that of a stream; as, the currency of time. [Obs.]… …   The Collaborative International Dictionary of English

  • currency — I noun bank notes, bills, cash, circulating medium, coin, government notes, hard cash, legal tender, medium of exchange, moneta, money, money in actual use, notes, paper money, ready money, specie associated concepts: lawful currency II index… …   Law dictionary

  • currency — [kʉr′ən sē] n. pl. currencies [ML currentia, a current < L currens: see CURRENT] 1. a continual passing from hand to hand, as of a medium of exchange; circulation ☆ 2. the money in circulation in any country; often, specif., paper money 3.… …   English World dictionary

  • Currency — (engl., spr. Körrensi), das umlaufende Geld, bes. Papiergeld. Currencyleute, die in der Verbrechercolonie in Neu Süd Wales Geborenen …   Pierer's Universal-Lexikon

  • Currency — (spr. körrenßi), der englische Ausdruck für Kurant, erweitert auf alle gesetzlichen Zahlungsmittel, deren Annahme nicht verweigert werden darf. Im engern Sinne versteht man unter C. in Amerika nur Papiergeld und Banknoten. Ost werden aber auch (z …   Meyers Großes Konversations-Lexikon

  • Currency — (engl., spr. körrĕnßi), in England und Nordamerika das umlaufende Geld, bes. das Papiergeld. Currencyschule, Anhänger der vollen metallischen Deckung aller Banknoten, oder doch der Beschränkung des Notenwesens; Gegensatz: Bankschule, der die… …   Kleines Konversations-Lexikon

  • Currency — (Körrensi), in England das umlaufende Geld …   Herders Conversations-Lexikon

  • currency — (n.) 1650s, condition of flowing, from L. currens, prp. of currere to run (see CURRENT (Cf. current) (adj.)); the sense of a flow or course extended 1699 (by John Locke) to circulation of money …   Etymology dictionary

  • currency — cash, *money, legal tender, specie, coin, coinage …   New Dictionary of Synonyms

  • currency — [n] paper and coin money of a country almighty dollar*, bills, bread*, cabbage*, cash, chicken feed*, coinage, coins, cold cash*, dinero*, dough*, folding money, green stuff*, legal tender, medium of exchange, moolah*, notes, piece of change*,… …   New thesaurus

  • currency — ► NOUN (pl. currencies) 1) a system of money in general use in a particular country. 2) the quality or period of being current …   English terms dictionary


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