Currency | Wikipedia audio article
Channel: wikipedia tts
Date: 25/03/2019

This is an audio version of the Wikipedia Article:
https://en.wikipedia.org/wiki/Currency


00:02:04 1 History
00:02:13 1.1 Early currency
00:04:52 1.2 Coinage
00:07:22 1.3 Paper money
00:14:24 1.4 Banknote era
00:15:31 2 Modern currencies
00:17:02 3 Alternative currencies
00:18:12 4 Control and production
00:21:07 5 Currency convertibility
00:22:22 6 Local currencies
00:24:24 7 List of major world payment currencies
00:26:20 8 See also



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SUMMARY
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A currency (from Middle English: curraunt, "in circulation", from Latin: currens, -entis), in the most specific use of the word, refers to money in any form when in use or circulation as a medium of exchange, especially circulating banknotes and coins. A more general definition is that a currency is a system of money (monetary units) in common use, especially for people in a nation. Under this definition, US dollars (US$), British pounds (£), Australian dollars (A$), European euros (€), Russian rubles (₽) and Indian Rupees (₹) are examples of currency. These various currencies are recognized as stores of value and are traded between nations in foreign exchange markets, which determine the relative values of the different currencies. Currencies in this sense are defined by governments, and each type has limited boundaries of acceptance.
Other definitions of the term "currency" are discussed in their respective synonymous articles banknote, coin, and money. The latter definition, pertaining to the currency systems of nations, is the topic of this article. Currencies can be classified into two monetary systems: fiat money and commodity money, depending on what guarantees the currency's value (the economy at large vs. the government's physical metal reserves). Some currencies are legal tender in certain political jurisdictions. Others are simply traded for their economic value. Digital currency has arisen with the popularity of computers and the Internet.