Currency

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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 total value of the foreign currency in INR is Rs 2,93,27,265," the official said.
Starting from 2015, deposits of non-banking financial institutions have been included in RMB deposits, foreign currency deposits and deposits in RMB and foreign currencies; lending to non-banking financial institutions has been included in RMB loans, foreign currency loans and loans in RMB and foreign currencies.
Dr Abdul Hafeez Shaikh approved the proposal that officials of the SBP should be part of the Federal Investigation Agency's (FIA) team whenever the investigation agency raids any foreign currency exchange company to check the records.
We encourage all our expat customers and customers who earn in USD to use a Nations Foreign Currency Investment Plan to build a bright future and make their dreams a reality.
"Net government operations" are the net purchases of foreign currency for government foreign exchange requirements and for additions to reserves.
Other reasons for stabilization of the foreign currency rate is the oil dollar injection into the market, the establishment of the secondary market, and systems to control the foreign currency rate - those were the other successful solutions that helped, she explained.
"We are continuously enhancing our online foreign currency exchange platform to bring relevant and convenient banking services to more Filipinos, to enable them in their financial achievements such as making big investments or funding their dream travels," RCBC treasurer Horacio Cebrero said.
Credits in national currency were issued in the amount of 46 billion soms, and in the amount of 50.3 billion soms in foreign currency until Sept 2016, then in February this ratio changed.
In a statement, Moody's said that the Turkish lenders are highly reliant on foreign currency funding and had market funds of around $186 billion denominated in foreign currency as of June 2018, which is equivalent to 75 per cent of their total wholesale funds.
--Long-Term Foreign Currency IDR affirmed at 'B'; Outlook to Stable from Positive;
The FIA raiding team recovered foreign currency -- 454 Saudi Riyals, 3,000 Euros, 240 UAE Dirham, 2 Omani Riyal, 863,200 prize bonds and Rs700,800 local currency from the accused.
"The provisions of this circular whose object is the import, transfer, conversion and physical re-exportation of foreign currency by non-resident travelers comes into force as of December 1, 2017."

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