National Currency
Barron's Banking Dictionary:
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National Currency
Any approved currency issued by a central bank or monetary authority as the official unit of account for valuation of foreign exchange and payment of debts. Also called monetary unit. In the United States, Federal Reserve Notes issued by the Federal Reserve Banks are the official national currency. See also Legal Tender.
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National Currency
Investopedia Financial Dictionary:
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National Currency
The currency or legal tender issued by a nation's central bank or monetary authority. The national currency of a nation is usually the predominant currency used for most financial transactions in that country.
Investopedia Says:
A handful of national currencies such as the U.S. dollar and the euro have achieved global status as reserve currencies and are extensively used in international trade transactions. The euro has supplanted the national currencies of a number of nations that comprise the European Union. The national currencies of some countries such as the United Arab Emirates are pegged or fixed to the U.S. dollar.
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Learn how the Bretton Woods system got the ball rolling for world trade. Global Trade And The Currency Market
Find out what can cause a currency to collapse and what central banks can do to help. What Causes A Currency Crisis?
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Barron's Banking Dictionary
Dictionary of Banking Terms. Copyright © 2006 by Barron's Educational Series, Inc. All rights reserved.
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