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 ?
The decree was adopted "with a view to simplify the procedure for import and export of cash foreign currency by individuals through the customs border of the Republic of Uzbekistan".
Moody's assumes that the Central Bank of the Russian Federation (CBR), which has ample foreign currency reserves (estimated at $435 bln), would look to ensure that there are no foreign currency shortages in the system.
The outlook on all long-term foreign currency ratings is revised to positive from stable; all other ratings remain on stable outlook.
1256(g)(2)(A), a foreign currency contract is subject to the mark-to-market timing rule if:
In addition to determining and translating its taxable income or loss, under both the 1991 proposed regulations and 2006 proposed regulations, a Section 987 QBU must determine foreign currency gain or loss at the time it makes or is deemed to make remittances back to its owner.
Foreign currency holdings shall be invested insofar as practicable, considering needs for minimum working balances.
Moody's at the same time upgraded the foreign currency senior unsecured debt ratings of Banco de Credito del Peru to B1, from B2, with stable outlook, and upgraded the foreign currency senior unsecured debt ratings of Interbank to B2, from B3.
1984), satisfying a debt instrument denominated in a foreign currency was held not to be a "sale or exchange" in determining the character of the debtor's currency loss.
An SOP entitled Foreign Currency Accounting and Financial Statement Presentation for Investment Companies will be published later this year.
entities sought refuge from the European tensions by converting foreign currency investments or balances into dollars.
Match revenue and costs that arise from the trading of goods and services in any particular foreign currency.
NEW YORK -- Fitch Ratings has downgraded the long-term foreign currency Issuer Default Rating (IDR) of Ecuador to 'CCC' from 'B-', indicating that default is a real possibility in the near term.

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