[a]

A currency is a standardization of money in any form, in use or circulation as a medium

[1][2]
of exchange, for example banknotes and coins. A more general definition is that a
currency is a system of money in common use within a specific environment over time,
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especially for people in a nation state. Under this definition, the British Pound Sterling
(£), euros (€), Japanese yen (¥), and U.S. dollars (US$) are examples of
(government-issued) fiat currencies. Currencies may act as stores of value and be traded
between nations in foreign exchange markets, which determine the relative values of the
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different currencies. Currencies in this sense are either chosen by users or decreed by
governments, and each type has limited boundaries of acceptance; i.e., legal tender laws
may require a particular unit of account for payments to government agencies.
Other definitions of the term "currency" appear in the respective synonymous articles:
banknote, coin, and money. This article uses the definition which focuses on the currency
systems of countries.
One can classify currencies into three monetary systems: fiat money, commodity money,
and representative money, depending on what guarantees a currency's value (the
economy at large vs. the government's physical metal reserves). Some currencies
function as legal tender in certain jurisdictions, or for specific purposes, such as payment
to a government (taxes), or government agencies (fees, fines). Others simply get traded
for their economic value.
Digital currency has arisen with the popularity.