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The Currency

katia

Created on May 6, 2021

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Transcript

WHAT IS A

CURRENCY

A currency is a form of money, usually issued by the public authorities in a particular jurisdiction. It performs three functions – it is a unit of account, a store of value and a medium of exchange. It is able to do so because firms and households accept it in settlement of debts.

A currency is a monetary denomination, such as the dollar, euro or pound, that is accepted in payment within a given area or among a specific group of people.