Currency Currency A currency (from , "in circulation", from ), in the most specific use of the word, refers to money in any form when in actual use or circulation as a medium of exchange, especially circulating banknotes and coins. A more general definition is that a currency is a "system of money" (monetary units) in common use, especially in a nation. Under this definition, US dollars, British pounds, Australian dollars, European euros and Russian ruble are examples of currency. These various currencies are recognized as stores of value and are traded between nations in foreign exchange markets, which determine the
Currency War of 2009–11 dollar float freely. While the US has taken no direct action to devalue its currency, there is close to universal consensus among analysts that its quantitative easing programmes exert downwards pressure on the dollar. According to many analysts the currency war had largely fizzled out by mid-2011, though others including Mantega disagreed. As of March 2012, outbreaks of rhetoric were still occurring, with additional measures being adopted by countries like Brazil to control the appreciation of their currency. Yet by June, there were signs that currency misalignment had been levelling out in China and across the world, with even Mantega