Currency

money · economics · trade · global

Many forms of money. Currency can be physical like coins and paper bills, or digital like the money in your online bank account. Some countries are even creating digital currencies controlled by their central banks.

Each country has its own. Most nations have their own currency, like the U.S. dollar ($), Euro (€), British pound (£), and Japanese yen (¥). Different countries' currencies have different values and aren't always accepted everywhere.

A system of exchange. Currency is basically an agreed-upon system that lets people trade fairly. Instead of swapping chickens for tools, we use money to buy what we need.

Currency values change. Countries trade currencies with each other on foreign exchange markets, kind of like a worldwide game where the value of one currency compared to another is always shifting.

Government decides the rules. Governments create their currencies and decide they're legal tender, which means people are legally required to accept them for payments.