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1a(7). (m) Currency. The coin and paper money of the United States or of any other country that is designated as legal tender and that circulates and is customarily used and accepted as a medium of exchange in the country of issuance. Currency includes U.S. silver certificates, U.S. notes and Federal Reserve notes.

One can classify currencies into three monetary systems: fiat money, commodity money, and representative money, depending on what guarantees a currency's value (the economy at large vs. the government's physical metal reserves).

The main uses of money are as a medium of exchange, a unit of account, and a store of value. The four types of money are fiat money, commodity money, fiduciary money, and commercial bank money. An example of currency is the U.S. Dollar and the Euro used among the 19 countries of the Eurozone.

Definition of Money Money, in simple terms, is a medium of exchange. It is instrumental in the exchange of goods and/or services. Further, money is the most liquid assets among all our assets. It also has general acceptability as a means of payment along with its liquid nature.

Economists differentiate among three different types of money: commodity money, fiat money, and bank money. Commodity money is a good whose value serves as the value of money. Gold coins are an example of commodity money.

Currency: the type of currency used in the reservation. All the prices for this hotel will use this currency; reservations will be displayed and made using this currency. Currency can be added by using the available Manage Currency option.

One way some researchers divide individuals into economic classes is by looking at their incomes. From that data, they split earners into different classes: poor, lower-middle class, middle class, upper-middle class and wealthy.