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Currency

Currency is a medium of exchange that is widely accepted in transactions for goods and services. It can take the form of paper money, coins, or digital formats. National governments issue and regulate currencies, which represent a country’s official monetary system. Examples of well-known currencies include the U.S. dollar (USD), the Euro (EUR), and the Japanese yen (JPY). Currency serves as a store of value, a unit of account, and a medium of exchange in an economy.

Example

The U.S. dollar is the official currency of the United States and is widely used for international transactions, trade, and investment.

Key points

• Currency is a medium of exchange used to facilitate transactions for goods and services.

• It can be in the form of paper money, coins, or digital formats.

• Currencies are regulated by national governments and central banks.

Quick Answers to Curious Questions

Currency serves as a medium of exchange, a store of value, and a unit of account in an economy.

National governments and central banks regulate currencies, controlling their issuance, supply, and value.

Examples include the U.S. dollar (USD), the Euro (EUR), the Japanese yen (JPY), and the British pound (GBP).

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