currency

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Related to Means of exchange: monetary unit, National Currencies

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 ?
It is an agreement we have made as a society to use something--whether it is sparkly gold coins, paper notes or cowrie shells--as a means of exchange.
They were also means of exchange, almost as good as pennies, and I regret to say that all of us children did a thriving barter in them, trading briskly and with a keen sense of worth.
The Pakistani rupee has been accepted as a means of exchange all over Afghanistan and is traded among money exchangers in major Afghan cities.
We might then consider what the modes and means of exchange are in the justice of both Tourgee and Chesnutt--what their ratios are and how they define commensurability.
Then, money itself became a commodity as well as a means of exchange.
As defenders of the monetary metals, we do not necessarily maintain that they should be the only means of exchange.
Our people should patronise Made in Nigeria goods and we should not allow the dollar to be our means of exchange in the country.
One of the values of a currency is stability and the extent (to which) a currency is target of speculation as opposed to primarily a means of exchange.
In fact, it isn't very much at all, it's the means of exchange, not the apex of ambition, it's pieces of paper and electronic records, that's all.
The exchange rate is the price of one currency against the other, and has nothing to do (whatsoever) with cash as a means of exchange.