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Money and credit - Ivanov V.M.

Theme 12. CURRENCY SYSTEM AND ITS ELEMENTS

12.1. Currency concept

Currency - a monetary unit used to measure the value of goods and services. The concept of "currency" is used in three meanings:

1) the monetary unit of a certain country (US dollar, Russian ruble, Japanese yen, Hungarian forint, etc.) and one or another type of it (gold, silver, paper);

2) banknotes of foreign states, as well as credit and means of payment expressed in foreign monetary units and used in international settlements, foreign currency;

3) international (regional) monetary unit of account and means of payment (euro, SDR).

Depending on the country - issuer of foreign currency funds, currencies are divided into foreign and national, the currency of the exporter and importer; depending on the mode of use - convertible (in whole or in part) and non-convertible; and depending on the scope and purpose of use - on the currency of payment, clearing, price, operations and bills.

Economic, political, cultural and other forms of relations between individual countries give rise to monetary relations between them associated with the payment of goods and services received. These relations between countries constitute the content of currency relations.