Tag: silver

Fiat Money definition explanation

What is Fiat Money?
Currency that a government has declared to be legal tender, despite the fact that it has no intrinsic value and is not backed by reserves. Historically, most currencies were based on physical commodities such as gold or silver, but fiat money is based solely on faith. Read more for examples and further explanation including related video clips and also comments
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BTN (Bhutanese Ngultrum) definition explanation

What is BTN (Bhutanese Ngultrum)?
The currency abbreviation for the Bhutanese ngultrum, the currency for Bhutan. The Bhutanese ngultrum is made up of 100 chhertum (“”chetrums”” before 1979) and is often presented with the symbol Nu. The word ngultrum is derived from the word “”ngul”” meaning “”silver,”” in the Bhutanese Dzongkha language. Bhutanese ngultrum is controlled and issued by the Royal Monetary Authority of Bhutan. Read more for examples and further explanation including related video clips and also comments
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BDT (Bangladesh Taka) definition explanation

What is BDT (Bangladesh Taka)?
The currency abbreviation or currency symbol for the Bangladesh taka (BDT), the currency for Bangladesh. The Bangladesh taka is made up of 100 poisha and is often presented with the symbol ó, ò, or Tk. The word “”taka”” originated from ancient denominations of silver coins called tanka. Read more for examples and further explanation including related video clips and also comments
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Banknote definition explanation

What is Banknote?
A negotiable promissory note issued by a bank and payable to the bearer on demand. The amount payable is stated on the face of the note. Banknotes are considered legal tender, and, along with coins, make up the bearer forms of all modern money.

Also known as a “”bill”” or a “”note.”” Read more for examples and further explanation including related video clips and also comments
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Precious Metals definition explanation

What is Precious Metals?
A classification of metals that are considered to be rare and/or have a high economic value. The higher relative values of these metals are driven by various factors including their rarity, uses in industrial processes and use as an investment commodity.

Precious metals include, but are not limted to: gold, silver, platinum, iridium, rhodium and palladium. Read more for examples and further explanation including related video clips and also comments
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AFA (Afghanistan Afghani) definition explanation

What is AFA (Afghanistan Afghani)?
The currency abbreviation or currency symbol for the Afghanistan afghani (AFA). The Afghanistan afghani is made up of 100 pul. The new afghani replaced the prior currency in early 2003, due to the low relative value of the nation’s currency.

The currency symbol that the Afgahanistan Afghani is represented by is: Read more for examples and further explanation including related video clips and also comments
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