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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...)

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Bi-metallic coins are made up of a core with an outer ring. (e.g.: 500 yen coin)
Bi-metallic coins are coins consisting of two (bi-) metalsoralloys, generally arranged with an outer ring around a contrasting center. Common circulating examples include the 1, 2, United Kingdom £1 and £2, Canadian $2, South Africa R5, Egyptian £1, Turkish 1 lira and 50 kurus, Indian 10 and 20, Indonesian Rp1,000, Polish 2 and 5 zł, Czech 50 Kč, Hungarian 100 and 200 Ft, Bulgarian 1 and 2 lv., Hong Kong $10, Argentine $1 and $2, Brazilian R$1, Chilean $100 and $500, Colombian $500 and $1000, Peruvian S/2 and S/5, Albanian 100 Lekë, Thai 10 baht and all Mexican coins of $1 or higher denomination. (Full article...)

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    The rubleorrouble (Russian: рубль, romanizedrublʹ; symbol: ; abbreviation: рубorр.inCyrillic, RubinLatin; ISO code: RUB) is the currency of the Russian Federation. The ruble is subdivided into 100 kopecks (sometimes written as copeckorkopek; Russian: копе́йка, romanizedkopeyka, pl. копе́йки, kopeyki). It is used in Russia as well as in the parts of Ukraine under Russian military occupation and in Russian-occupied partsofGeorgia.

    The ruble was the currency of the Russian Empire and of the Soviet Union (as the Soviet ruble). In 1992, the currency imagery underwent a redesign as a result of the fall of the Soviet Union. The first Russian ruble (code: RUR) replaced the Soviet ruble (code: SUR) in September 1993 at par. (Full article...)

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  • Did you know - load new batch

  • ... that Frankie Saluto was a member of the Ringling Giants, a dwarf baseball team that raised money for charity?
  • ... that Zack Kelly received a $500 signing bonus, lost money in his first professional seasons, and was released by two organizations before he made his Major League Baseball debut?
  • ... that Colin Stubs spent the prize money from his first international tennis title on an old Volkswagen to travel around Europe?
  • ... that medievalist Edward Rand rang the doorbell of Harvard president Charles William Eliot and asked him: "I would like to go to Harvard; do you have any money?"
  • ... that in the span of three days, a Florida man was approved by bankruptcy courts to buy TV stations in Roanoke and Lynchburg, Virginia, and then arrested on charges of laundering millions in drug money?
  • ... that Russian money, known as qiang tie by locals, was used as legal currency in some regions of China for decades?
  • ... that the Gould Memorial Library once hosted pie-throwing contests to raise money?
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    Last edited on 28 November 2023, at 23:19  


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    This page was last edited on 28 November 2023, at 23:19 (UTC).

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