Digital currency bitcoin is a digital currency but also a type of virtual currency. Bitcoin and its alternatives are based on cryptographic algorithms, so these kinds of virtual currencies are also called cryptocurrencies. Most of the traditional money supply is bank money held on computers. This is also considered digital currency. One could argue that our increasingly cashless society means that all currencies are becoming digital, but they are not presented to us as such. Currency can be exchanged electronically using debit cards and credit cards using electronic funds transfer at point of sale. A number of electronic money systems use contactless
Currency War of 2009–11 a "scapegoat" for the US's failings. China accused the US of waging the currency war and that it has "exercised financial policies characterised as 'economic egoism.'" In April 2011, the "Financial Times" reported that Chinese officials have signalled 2016 as a date when they expect to stop intervening against their currency by buying dollar assets. Brazil is a large economy which has generally allowed their currency to float freely, with the exception of some low level interventions to counter large capital inflows resulting from major stock sales. As a result, since early 2009 her currency has risen substantially against the