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Revision as of 05:41, 8 March 2025


The Money Portal

Euro coins and banknotes

Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context. The primary functions which distinguish money are: medium of exchange, a unit of account, a store of value and sometimes, a standard of deferred payment.

Money was historically an emergent market phenomenon that possessed intrinsic value as a commodity; nearly all contemporary money systems are based on unbacked fiat money without use value. Its value is consequently derived by social convention, having been declared by a government or regulatory entity to be legal tender; that is, it must be accepted as a form of payment within the boundaries of the country, for "all debts, public and private", in the case of the United States dollar.

The money supply of a country comprises all currency in circulation (banknotes and coins currently issued) and, depending on the particular definition used, one or more types of bank money (the balances held in checking accounts, savings accounts, and other types of bank accounts). Bank money, whose value exists on the books of financial institutions and can be converted into physical notes or used for cashless payment, forms by far the largest part of broad money in developed countries. (Full article...)

A selection of metal coins

A coin is a small object, usually round and flat, used primarily as a medium of exchange or legal tender. They are standardized in weight, and produced in large quantities at a mint in order to facilitate trade. They are most often issued by a government. Coins often have images, numerals, or text on them. The faces of coins or medals are sometimes called the obverse and the reverse, referring to the front and back sides, respectively. The obverse of a coin is commonly called heads, because it often depicts the head of a prominent person, and the reverse is known as tails.

The first metal coins – invented in the ancient Greek world and disseminated during the Hellenistic period – were precious metal–based, and were invented in order to simplify and regularize the task of measuring and weighing bullion (bulk metal) carried around for the purpose of transactions. They carried their value within the coins themselves, but the stampings also induced manipulations, such as the clipping of coins to remove some of the precious metal. (Full article...)

List of selected articles

Selected currency - show another

The renminbi (Chinese: 人民币; pinyin: Rénmínbì; lit. 'People's Currency' Chinese pronunciation: [ʐən˧˥min˧˥pi˥˩]; symbol: ¥; ISO code: CNY; abbreviation: RMB), also known as the Chinese yuan, is the official currency of the People's Republic of China. The renminbi is issued by the People's Bank of China, the monetary authority of China. It is the world's fifth-most-traded currency as of April 2022.

The yuan () is the basic unit of the renminbi. One yuan is divided into 10 jiao (), and the jiao is further subdivided into 10 fen (). The word yuan is widely used to refer to the Chinese currency generally, especially in international contexts. (Full article...)

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