currency


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Related to currency: currency rate, Cuban currency

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 ?
By pooling the foreign currency gains and losses of all assets together with earnings, in the equity pool, the 1991 proposed regulations effectively required recognition of currency gain or loss on all the assets of the QBU, including nonfinancial assets.
dollar weakening and associated Asian currency strength.
Counterfeiting has been kept at low levels through a combination of improvements in security features, aggressive law enforcement, and education efforts to inform the public about how to check their currency.
The pegging of the Chinese currency, the yuan, to a fixed rate of exchange with the U.
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A: The euro becomes the official currency in the 11 nations.
Tim Mitchell, project manager of the Valley Trade Connection, a nonprofit barter network and local currency project in Massachusetts, says that spending locally, even when the money is regular greenbacks, has major regional benefits.
6 billion in high-tech fraudulent currency would pollute the economy, a National Research Council (NRC) committee warns.
Some packages offer only partial currency facilities, where foreign currency accounts are kept in a separate file and are extracted and converted only at the time of consolidation.
The debentures are redeemable to the extent NSHFV redeems the dual currency notes.