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 ?
Bullard pointed out that privately issued currency can fit into this context of many competing currencies. The literature suggests public and private currencies can coexist as part of an equilibrium, in which one type of money need not crowd out the other, he explained.
These exchanges are also required to put in place adequate safeguards to address the risks associated with virtual currencies, including control measures to counter money laundering/ terrorist financing, technology risk management systems, and consumer protection mechanisms.
The term 'virtual currencies' is commonly used to refer to digitally created representations of value that are issued by private developers and denominated in their own unit of account.
Figure 1 uses 'a money tree' to organise digital currencies into categories.
Several countries do not use their domestic currencies and instead adopt a stronger currency for transactions.
'The BSP does not, in any way, endorse virtual currencies as legal tender, store of value or as an investment vehicle,' it quickly added.
The book seeks to provide clarity on the unexplored and technology-dense world of crypto currencies, in a beginner friendly way.
However, investments - or inflow of foreign currencies - will be encouraged to reap the benefits of the currency's appreciation, whether by realizing gains from further appreciation or because of higher interest rates.
The research, Virtual currencies: Media of exchange or speculative assets?
The first iteration is the plain vanilla currency-hedged equity ETF that is hedged at all times against the basket of currencies in the ETF.
Under the current version of the Classifier of Foreign Currencies and Banking Metals, foreign currencies fall into three groups: