paper money
- Scope note
- Officially circulating media of exchange manufactured from paper; used in Asia from the 8th century and issued in Europe from the 17th century. Typically issued by a bank or public authority as fiat currency circulating as official currency. The bill is exchangeable without time limitation for metallic coins and is backed by its equivalent in precious metals.
- Date of creation: 01-Dec-2025
Accepted term: 01-Dec-2025