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1.a medium of exchange that functions as legal tender 2.the official currency, in the form of banknotes, coins, etc., issued by a government or other authority Collins Discovery Encyclopedia, 1st edition © HarperCollins Publishers 2005 ...
Central banks across the globe hold their foreign exchange reserves in dollars, contributing to the currency’s stability and demand. This status allows the US to run persistent trade deficits without causing a depreciation in its currency value. Another factor that enables the US to support high ...
There are other reasons to accept a currency—maybe I can exchange it for gold or foreign currency, maybe I can spend it at the store, maybe I can hold it as a store of value. These supplement taxes—or, better, derive from the obligations that need to be settled using currency (such...