Children's, Intermediate and Advanced Online English Dictionary & Thesaurus

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fiat currency paper currency that is dependent for its value on a government fiat or decree, and cannot be exchanged for gold or silver.
fractional currency coins or paper money with a value less than the standard monetary unit, such as a U.S. dime or quarter.
managed currency currency so regulated by a governmental agency or bank that the amount of money in supply and its buying power are controlled.