US CURRENCY Meaning and
Definition
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US currency refers to the official legal tender in the United States, which is issued and regulated by the country's central bank, the Federal Reserve System. It encompasses the various forms of physical money that circulate within the economy, including banknotes, commonly referred to as bills or paper money, and coins.
US banknotes, which are primarily made of cotton fiber paper, come in denominations of $1, $2, $5, $10, $20, $50, and $100. Each bill features the portrait of a notable figure from American history, such as George Washington on the $1 bill or Benjamin Franklin on the $100 bill. These banknotes are widely accepted as a medium of exchange for goods and services in the United States and retain their face value regardless of any potential fluctuations in the economy.
The US currency also includes coins of various values, such as pennies (1 cent), nickels (5 cents), dimes (10 cents), quarters (25 cents), and dollar coins. These coins are made of different alloys, with each denomination typically featuring an emblematic design, such as the profile of a former president like Abraham Lincoln on the penny or George Washington on the quarter.
As the official currency of the United States, the US currency plays a crucial role in facilitating daily transactions, enabling economic activities, and serving as a medium for storing and exchanging value within the economy.
Common Misspellings for US CURRENCY
- ys currency
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Etymology of US CURRENCY
The word "currency" is derived from the Latin word "currens", which means "to run" or "to flow". It originally referred to any form of money that is in circulation within a specific region or country. The term "US currency" specifically refers to the currency used in the United States, the US dollar. The word "dollar" has an etymology originating from the Dutch word "daler" or "daalder", which came into use during the 16th century and referred to a large silver coin. Over time, "daler" was anglicized to "dollar", and it became the name for the currency of the United States when it was established.
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