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Sagot :
They fix or peg their exchange rates to the value of another currency.
Foreign money[a] is a standardization of cash in any shape, in use, or stream as a medium of alternate, for instance, banknotes and cash. A more widespread definition is that a currency is a gadget of cash in commonplace use inside particular surroundings over time, specifically for humans in a country nation. underneath this definition, the British Pound Sterling (£), euros (€), jap yen (¥), and U.S. dollars (US$)) are examples of (government-issued) fiat currencies.
Currencies might also act as shops of fee and be traded among international locations in forex markets, which determine the relative values of the exceptional currencies. Currencies in this feel are both chosen through customers or decreed by governments, and every type has restricted obstacles of attractiveness - i.e., prison smooth laws might also require a particular unit of account for bills to government businesses.
Definitions of the term "forex" seem inside the respective synonymous articles: banknote, coin, and money. this text makes use of the definition which makes a specialty of the currency systems of countries.
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