currency
nounDefinition of currency
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Synonyms for currency
Synonyms
bread [slang], bucks, cabbage [slang], cash, change, chips, coin, dough, gold, green, jack [slang], kale [slang], legal tender, lolly [British], long green [slang], loot, lucre, money, moola (or moolah) [slang], needful, pelf, scratch [slang], shekels (also sheqels), tender, wampum
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Examples of currency in a Sentence
Recent Examples on the Web
Under the weight of U.S. sanctions, the value of Iran's currency has plummeted by about 60 percent in the last year. — Fox News, "Iran still violating terms of 2015 nuclear deal, UN watchdog finds," 31 Aug. 2019 Those include foreign exchange transactions, banking payments or transfers, and the import or export of foreign currency and securities. — Rachel Layne, CBS News, "Can Trump force U.S. companies out of China?," 26 Aug. 2019These example sentences are selected automatically from various online news sources to reflect current usage of the word 'currency.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.
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More Definitions for currency
currency
nounFinancial Definition of currency
What It Is
Currency is a medium of exchange for goods or services within an economy.
How It Works
Currency can be either fiat or tied to an underlying asset. Fiat money has no intrinsic value and is backed by the full faith and credit of the issuing government. That is, this type of currency is not worth very much in terms of its value as a raw material. Most paper money is fiat money, and its value comes from what it represents rather than what it is. Asset-backed currencies tied to gold, silver or other valuable commodities are rare in present day markets.
Why It Matters
Currency serves an important role in an economy, and has three universally accepted economic advantages: it acts as a medium of exchange, a store of value, and a standard of value. Meaning it allows buyers and sellers to quickly arrive at comparative prices instead of
haggling over how many of one good is worth compared to an unlimited number of others.
It is important to remember, though, that fiat money is only as good as the organization that issues it. If the entity defaults, the currency is worthless.
Source: Investing Answers
currency
nounEnglish Language Learners Definition of currency
See the full definition for currency in the English Language Learners Dictionary
currency
noun