Currency relative values of the different currencies. Currencies in this sense are defined by governments, and each type has limited boundaries of acceptance. Other definitions of the term "currency" are discussed in their respective synonymous articles banknote, coin, and money. The latter definition, pertaining to the currency systems of nations, is the topic of this article. Currencies can be classified into two monetary systems: fiat money and commodity money, depending on what guarantees the value (the economy at large vs. the government's physical metal reserves). Some currencies are legal tender in certain political jurisdictions. Others are simply traded for their economic
Cent (currency) Cent (currency) In many national currencies, the cent, commonly represented by the cent sign (a minuscule letter "c" crossed by a diagonal stroke or a vertical line: ¢; or a simple "c") is a monetary unit that equals of the basic monetary unit. Etymologically, the word "cent" derives from the Latin word "centum" meaning hundred. "Cent" also refers to a coin worth one cent. In the United States, the 1¢ coin is generally known by the nickname "penny", alluding to the British coin and unit of that name. In the European Union, coins designs are chosen nationally, while the reverse