Money is anything that is generally acceptable to sellers in exchange for good s and services.
There are three definitions of the U. S. money supply. The narrowest definition, the M1 money supply , consists of currency, travelers' checks, demand deposits, and other checkable deposits. M2 adds money market deposit accounts, savings and small-denomination time deposits, and retail money market mutual fund balances. M3 equals M2 plus large time deposits, repurchase agreements, Eurodollar deposits, and institution-only money market mutual fund balances. Countries use the foreign exchange market to convert national currencies to pay for trade.