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A currency is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins. A more general definition is that a currency is a system of money in common use within a specific environment over time, especially for people in a nation state. Under this definition, the British Pound sterling (£), euros (€), Japanese yen (¥), and U.S. dollars (US$) are examples of (government-issued) fiat currencies. Currencies may act as stores of value and be traded between nations in foreign exchange markets, which determine the relative values of the different currencies. Currencies in this sense are either chosen by users or decreed by governments, and each type has limited boundaries of acceptance; i.e., legal tender laws may require a particular unit of account for payments to government agencies.

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Organizations relating to Currency

International Payments Framework Association / San Francisco CA, USA / Est. 2010
European Association of Central Counterparty Clearing Houses / Brussels, Belgium / Est. 1991
International Banknote Designers Association / Savigny, Switzerland / Est. 2010
PAN-Nordic Card Association / Malmö, Sweden
West African Monetary Institute / Accra, Ghana / Est. 2000
Comité monétaire de la Zone franc / Paris, France / Est. 1952
Voorburg Group on Service Statistics / Oslo, Norway / Est. 1986
Eurogroup / Brussels, Belgium / Est. 1997
Single Global Currency Association / Newcastle ME, USA / Est. 2003
Zone franc / Paris, France / Est. 1939
Multilateral Monetary Area / Est. 1974
European Economic and Monetary Union / Brussels, Belgium / Est. 1999
International Bank Note Society / St James NY, USA / Est. 1961
Conférence des ministres des finances des pays de la Zone franc / Paris, France / Est. 1964
Pays africains de la Zone franc
South Asia Foundation / Delhi, India / Est. 2000
Europees Genootschap voor Munt- en Penningkunde / Aalst, Belgium / Est. 1950
International Bureau for the Suppression of Counterfeit Coins / Brussels, Belgium / Est. 1975
Making Cents International / Washington DC, USA / Est. 1999
Coordination Committee on Multilateral Payments Arrangements and Monetary Cooperation among Developing Countries / Geneva, Switzerland / Est. 1978
East African Currency Area / Est. 1922
Rouble Zone
Latin Coin Union
Scandinavian Coin Union / Est. 1873
European Community Biodiversity Clearing House Mechanism
European Council for Payment Systems / Est. 1978
West African Currency Board / Est. 1913
Universala Ligo / Est. 1942
European Payments Union / Est. 1950
COMESA Clearing House
Agreement Concerning the Collection of Bills, Drafts, 1957 / Est. 1957
Money Orders and Postal Travellers Cheques Agreement, 1979 / Est. 1979
Giro Agreement, 1979 / Est. 1979
Provisions for a Unit of Account and Adjustment of Limitations of Liability / Est. 1982
Convention for the Unification for the Law of Bills of Exchange and Cheques / Est. 1912
Convention for the Settlement of Certain Conflicts of Laws in Connection with Cheques / Est. 1931
Inter-American Convention on Conflict of Laws Concerning Bills of Exchange, Promissory Notes and Invoices / Washington DC, USA / Est. 1975
Agreement Concerning Transfers to and from Postal Cheque Accounts, 1957 / Est. 1957
Protocol Amending the International Convention for the Unification of Certain Rules Relating to Bills of Lading / Est. 1979
United Nations Convention on International Bills of Exchange and International Promissory Notes / Vienna, Austria / Est. 1988
Collection of Bills Agreement / Est. 1984
Convention Regarding Booklets of Travellers' Postal Vouchers in the Relations between Denmark, Finland, Iceland, Norway and Sweden / Est. 1937
Agreement Concerning Postal Money Orders and Postal Travellers' Cheques, 1969 / Est. 1969
Agreement Concerning Giro Transfers / Est. 1969
Agreement for Dispensing with Bills of Health / Est. 1934
Agreement Concerning the Collection of Bills, Drafts, 1952 / Est. 1952
International Convention for the Unification of Certain Rules Relating to Bills of Lading / Est. 1924
Protocol to the General Treaty of Central American Economic Integration - Emergency Measures to Protect the Balance of Payments, 1968 / Est. 1968
Convention Providing a Uniform Law for Bills of Exchange and Promissory Notes / Est. 1930
Protocol to the General Treaty of Central American Economic Integration - Emergency Measures to Protect the Balance of Payments, 1973 / Est. 1973

View all profiles (179 total) in the Yearbook of International Organizations

World Problems relating to Currency

From the Encyclopedia of World Problems and Human Potential

Unethical practices in the public sector
Unethical practices in forestry
Dependence on social welfare
Irregular payments of international financial obligations
Unethical practices of accountants
Debt slavery
Denial of rights to wounded military personnel
Underpayment for work
Speculation on money markets
Attenuation of group relationships
Currency black market
Intergovernmental organization mismanagement
Unethical practices by employees
Foreign exchange reserve shortages
Unethical real estate practice
Exchange rate volatility
Restrictions on foreign access to capital bond markets
Unmeaningful relationships to place
Misappropriation of public funds
Defaults on international loans
Bad loans
Profit-oriented interest payments
Circumvention of duties and assessments
Deterioration in external financial position of countries

Action Strategies relating to Currency

From the Encyclopedia of World Problems and Human Potential

Acting as information clearing house for nonprofit organizations
Clearing land mines
Establishing clearing houses for environmentally sound technology
Clearing unsightly debris
Providing checks on societal decision-making
Clearing unused land
Employing local exchange and trading LETS systems
Providing multilateral financial assistance
Cancelling international debt
Guaranteeing minimum wage
Developing own currency
Taxing currency speculation
Issuing currency
Taxing drink containers
Extending friendship
Unifying currencies
Controlling currency speculation
Developing global currency
Revaluating currency
Devaluing currency
Serving as information clearinghouse
Defining common standards for credit
Devising subsidy payment plan
Paying debts

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