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National Currency

What is '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.

Explaining 'National Currency'

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.


Further Reading


Is Europe an optimum currency area?
ideas.repec.org [PDF]
… Soon after the currency board system reached its greatest extent, in the mid 1950s, it ebbed for several reasons. Nationalist sentiment called for an independent national currency to accompany other trappings of independence …

The end of national currencyThe end of national currency
heinonline.org [PDF]
… Soon after the currency board system reached its greatest extent, in the mid 1950s, it ebbed for several reasons. Nationalist sentiment called for an independent national currency to accompany other trappings of independence …

Globalization without global money: the double role of the dollar as national currency and world currencyGlobalization without global money: the double role of the dollar as national currency and world currency
www.tandfonline.com [PDF]
… Soon after the currency board system reached its greatest extent, in the mid 1950s, it ebbed for several reasons. Nationalist sentiment called for an independent national currency to accompany other trappings of independence …

National money as a barrier to international trade: The real case for currency unionNational money as a barrier to international trade: The real case for currency union
pubs.aeaweb.org [PDF]
… Soon after the currency board system reached its greatest extent, in the mid 1950s, it ebbed for several reasons. Nationalist sentiment called for an independent national currency to accompany other trappings of independence …

Currency Internationalization as a National Competitive Strategy: US Dollar's Empirical Evidence——And a Study on the Issue of Renminbi <span style=[J]' src='/thumbnails/?img=http%3A%2F%2Fen.cnki.com.cn%2Farticle_en%2Fcjfdtotal-jjyj200502003.htm' />Currency Internationalization as a National Competitive Strategy: US Dollar's Empirical Evidence——And a Study on the Issue of Renminbi [J]
en.cnki.com.cn [[J]' href='https:/api.miniature.io/pdf?url=en.cnki.com.cn%2Farticle_en%2Fcjfdtotal-jjyj200502003.htm'>PDF]
… Soon after the currency board system reached its greatest extent, in the mid 1950s, it ebbed for several reasons. Nationalist sentiment called for an independent national currency to accompany other trappings of independence …

Currency internationalization: an overviewCurrency internationalization: an overview
papers.ssrn.com [PDF]
… Soon after the currency board system reached its greatest extent, in the mid 1950s, it ebbed for several reasons. Nationalist sentiment called for an independent national currency to accompany other trappings of independence …

Trust in the Euro: Exploring the Governance of a supra-national CurrencyTrust in the Euro: Exploring the Governance of a supra-national Currency
www.tandfonline.com [PDF]
… Soon after the currency board system reached its greatest extent, in the mid 1950s, it ebbed for several reasons. Nationalist sentiment called for an independent national currency to accompany other trappings of independence …

Financial globalization: the need for a single currency and a global central bankFinancial globalization: the need for a single currency and a global central bank
www.tandfonline.com [PDF]
… Soon after the currency board system reached its greatest extent, in the mid 1950s, it ebbed for several reasons. Nationalist sentiment called for an independent national currency to accompany other trappings of independence …



Q&A About National Currency


Is the U.S. dollar considered to be a reserve currency?

Yes, the U.S. dollar is considered to be a reserve currency and it has achieved global status as an international trade transaction medium.

What does "pegged" mean?

Pegged means fixed at a certain rate against another unit of value such as gold, silver, etc..

Which type of money is used in most financial transactions in America?

The U.S. dollar is used for most financial transactions in America because it is the country's legal tender and its national currency. This means that all other forms of money must be exchanged into dollars before they can be used for any transaction within the United States' borders or with citizens outside of them; this also applies to foreign governments who wish to conduct business with American companies or individuals within their borders (i.e., conducting business on American soil).

Are there different types of currencies?

Yes, there are different types of currencies such as commodity-based currencies and fiat money, which are not backed by any physical commodity but rather by government regulation or law (fiat).

What is a national currency?

A national currency is the currency issued by a nation's central bank or monetary authority.

Does every country have its own form of legal tender?

No, some countries share one form of legal tender across their borders while others have multiple forms depending on where you are located within their borders; this depends on whether each region uses its own local form(s) or if they use only one form throughout their entire territory . For example , Canada uses both Canadian dollars and American dollars interchangeably throughout its territory while Australia uses Australian dollars exclusively throughout its territory .

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