CURRENCY

The term currency comes from the Middle English term for ‘curraunt’ which is Latin for ‘currens’. It is the most specific term used to refer to money in any form when it is used within circulation as a medium of exchange, particularly through the circulation of banknotes and coins. Its more general definition is a system of money (monetary units) in corporate use, especially within a nation. US dollars, British pounds, Australian dollars and European euros are all examples of currency. These various currencies are used and recognised through stores and trading between nations within the foreign exchange markets, determining the various values of several different currencies.