currency

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currency

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
See also: cash, disclosure, money, publication

CURRENCY. The money which passes, at a fixed value, from hand to hand; money which is authorized by law.
     2. By art. 1, s. 8, the Constitution of the United States authorizes congress "to coin money, and to regulate the value thereof." Changes in the currency ought not to be made but for the most urgent reason, as they unsettle commerce, both at home and abroad. Suppose Peter contracts to pay Paul one thousand dollars in six months-the dollar of a certain fineness of silver, weighing one hundred and twelve and a half grains-and afterwards, before the money becomes due, the value of the dollar is changed, and it weighs now but fifty-six and a quarter grains; will one thousand of the new dollars pay the old debt? Different opinion may be entertained, but it seems that such payment would be complete; because, 1. The creditor is bound to receive the public currency; and, 2. He is bound to receive it at its legal value. 6 Duverg. n. 174.

References in periodicals archive ?
In making operating arrangements with foreign central banks on System holdings of foreign currencies, the Federal Reserve Bank of New York shall not commit itself to maintain any specific balance, unless authorized by the Federal Open Market Committee.
With this exchange support in place, the Voyager Network can identify a customer's IP address and automatically adjust the currency accordingly, while minimizing the risk associated with working in multiple currencies.
appears to have relatively little trouble with the concept of a common currency for Europe, provided it is based on a market-driven approach and emerges from competition among existing currencies.
The Fund, a pure play on hard currencies, provides investors with a new fundamental investment option to gain exposure to hard currencies such as the euro, Swiss franc, Australian dollar and gold.
By late August and during most of September, market attention focused on pressures within the exchange rate mechanism (ERM) of the European Monetary System (EMS) and between the EMS and those currencies linked to it through the European currency unit (ECU)--for example, the Finnish markka and Swedish krone.
Trade in a host of currencies to spread the risk of an adverse currency movement in one currency against the gains in others.
In many ways, trading currencies is similar to trading equities and futures, commented Mr.
operations were restricted largely to two types: selling gold to foreign authorities for the dollars acquired by those authorities in exchange market intervention; and, later, buying dollars from foreign authorities in return for that country's currency, which the United States had acquired by drawings on the Federal Reserve swap network and the issuance of bonds denominated in foreign currencies.
Using dollars exposes them to exchange risk, since the value of the dollar in relation to European currencies is always uncertain.
Thus, as the period began, the European currencies continued to gain support from the enthusiasm engendered late last year by reforms in Eastern Europe.
At times during the period, political developments abroad also weighed against several major foreign currencies.
By incorporating E4X's solution in it's Web commerce platform, ECNext can provide clients with a multi-currency e-commerce service which will enable them to sell in local currencies without currency risks.