AĀ currencyĀ in the most specific sense isĀ moneyĀ in any form when in use orĀ circulationĀ as aĀ medium of exchange, especially circulatingĀ banknotesĀ andĀ coins.
A more general definition is that a currency is aĀ system of moneyĀ (monetary units) in common use, especially for people in a nation.
Under this definition,Ā U.S. dollarsĀ (US$),Ā eurosĀ (ā¬),Ā Indian rupeeĀ (ā¹),Ā Japanese yenĀ (Ā„), andĀ pounds sterlingĀ (Ā£) are examples of currencies.
Currencies may act asĀ stores of valueĀ and be traded between nations inĀ foreign exchange markets, which determine the relative values of the different currencies.
Currencies in this sense are defined by governments, and each type has limited boundaries of acceptance.
Last Updated on 2 hours ago by pinc