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How is the value of money determined?

The value of money is determined by the demand for it, just like the value of goods and services.
What are the factors that determine the value of money?
The three main factors that determine the value of money are exchange rates, the amount of
dollars held in foreign reserves, and the value of Treasury notes.
Where does the value of money come from?
Our quest for cash holdings is conditioned by money purchasing power in the immediate past,
which in turn was affected by earlier purchasing power, and so on until we arrive at the very
inception of the monetary demand. At that particular moment, the purchasing power of a certain
quantity of gold or silver was determined by its nonmonetary uses only.