FINANCIAL LITERACY LEARNING RESOURCES
What is Currency?
Currency refers to the system of money in general use within a particular country or region. It serves as a medium of exchange, a store of value, and a unit of account, allowing people to trade goods and services efficiently. In Nigeria, like many other countries, the national currency plays a vital role in economic transactions, financial planning, and everyday life.
Different Types of Currency
Currency comes in various forms, each with its unique features, usability, and value. In Nigeria, the most common types of currency are:
1. Coins
Coins are metal forms of currency, typically representing smaller denominations. In Nigeria, the Central Bank of Nigeria (CBN) issues coins in denominations such as 50 kobo, ₦1, and ₦2. While coins are not as widely used as they once were, they are still legal tender and remain an important part of the currency system, especially for small everyday purchases like snacks or public transportation fares.
2. Banknotes
Banknotes, also known as paper money, are the most widely used form of currency in Nigeria. The Nigerian Naira (₦) is the official currency, and it is issued in various denominations, including ₦5, ₦10, ₦20, ₦50, ₦100, ₦200, ₦500, and ₦1000 notes. Each denomination features distinct designs, often showcasing important national figures or symbols of Nigerian culture and history.
Banknotes are convenient for larger transactions, whether you’re buying groceries, paying for services, or conducting business. They are easily portable and are accepted almost everywhere across the country, making them the most practical form of currency for everyday use.
3. Digital Money
With the advancement of technology, digital money is becoming increasingly popular in Nigeria. Digital currency refers to money that exists only in electronic form, unlike physical banknotes or coins. There are several forms of digital money currently in use in Nigeria, including:
• Mobile Money: This allows users to store and transfer money using mobile phones. It has gained significant traction in Nigeria, especially in areas where access to traditional banking services is limited.
• Bank Transfers: Online and mobile banking services allow Nigerians to send and receive money electronically, pay bills, and conduct other financial transactions without using physical cash.
• E-Naira: Launched by the Central Bank of Nigeria in 2021, the eNaira is a digital currency designed to complement Nigeria’s existing currency system. The eNaira offers a secure, fast, and efficient way to make payments, both for individuals and businesses. It represents a move towards a more cashless society, and though it’s still in its early stages, it is expected to grow in popularity in the coming years.
• Cryptocurrencies: Though not officially recognized by the government as legal tender, cryptocurrencies like Bitcoin and Ethereum are used by a growing number of Nigerians for online transactions and investments. However, cryptocurrency trading is somewhat restricted by government regulations, making it a less conventional form of digital money in the country.
The Role of Currency in Nigeria
Currency is essential to the functioning of the Nigerian economy. It allows for the smooth exchange of goods and services, serves as a store of wealth, and helps in the valuation of assets and liabilities. Whether you’re buying food at the market, paying for transportation, or conducting business, currency in one form or another is used in almost every aspect of daily life.
In recent years, Nigeria has been pushing towards a more digital, cashless society. The rise of digital payments, mobile banking, and the introduction of the eNaira are all steps in this direction. While traditional physical forms of money like coins and banknotes are still prevalent, the shift towards digital currency is expected to reduce the reliance on physical cash and increase financial inclusion across the country.
Conclusion
Currency in Nigeria, as elsewhere, is diverse and evolving. From the traditional coins and banknotes to the more modern digital money, the various forms of currency offer flexibility and convenience for different types of transactions.
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The major basics of Money is Currency and this write up highlights that currency is a medium of exchange which allows people trade goods and services,the types which varies from coins,bank notes, digital money where most transactions are made flexible and the roles each type plays...Understanding this Money basics opens up ones mind to explore the possibilities inherent in money not just as an asset but also as a value
ReplyDeleteGrace chika Agbogidi
DeleteThe basics of money is currency, currency is what is acceptable by any country as a medium of exchange, unit of account, store in value etc. Type of currency that are accepted in Nigeria as a medium of exchange are coins, paper money and digital currency which everyone in the world is shifting to. Electronic money is very flexible and convenient compare to other types of money and Nigeria is making use of digital currency for exchange of goods and services.
This section offers a comprehensive analysis of how currency is recognized, its diverse forms, and its evolution in Nigeria and other countries. It explores the various types of currency, including coins, banknotes, and digital money, highlighting their unique characteristics and roles in facilitating economic transactions. The discussion also addresses the growing trend towards digital currencies, such as mobile money and eNaira, illustrating how these innovations are reshaping the financial landscape.
ReplyDeleteFurthermore, the section emphasizes the vital role that currency plays in economic development. It discusses how effective currency systems contribute to financial stability, enhance trade efficiency, and promote financial inclusion. By adapting to technological advancements and the needs of the economy, currency serves as a key driver of growth and prosperity in both Nigeria and the global context.
Currency plays a very essential role in every economy. Currency refers to the system of money in general use . Currency varies in various regions in the world. For example the use of naira in Nigeria, dollar in the united state and pounds in the united kingdom . The various types of currency in Nigeria includes:
ReplyDeleteCoins-Usually in smaller denomination of 50kobo, 1 naira and 2naira
Bank note - Also known as paper money e.g 5naira,10naira,20 naira,50 naira,100 naira,200naira,500naira and 1000naira.
Digital money - This came into existence as a result of the emergence of technology. Digital money are money in electronic form e.g mobile money, bank transfer, e naira and crypto currency.
It should be noted that currency plays a vital role as it is essential the proper functioning of the economy and allows for smooth exchange of goods and services.
Currency is the medium of exchange, transaction within a particular country or region. It serves as a store of value and a unit of account, allowing people to trade goods and services efficiently.
ReplyDeleteCurrency, exists in the diverse form of coins, banknotes and digital money.
Currency is anything that is generally acceptable as a medium of exchange.
ReplyDeleteThere are types of Currency:
Coin,bank note and digital money.
Currency is important for a smooth and better economy.
This informs us on the various types of money and its function. An exposure of the various functions of currency and what currency is. The role currency play in Nigeria and how this invention of currency as brought ease to the community in comparison to the way currencies operated before this present time.
ReplyDeleteThis informs us on the various types of money and its function. An exposure of the various functions of currency and what currency is. The role currency play in Nigeria and how this invention of currency as brought ease to the community in comparison to the way currencies operated before this present time.
DeleteRole of Currency:
ReplyDelete1. Medium of exchange
2. Store of value
3. Unit of account
4. Facilitates trade and economic transactions
5. Essential for daily life and business
Trends:
1. Shift towards digital, cashless society
2. Increased financial inclusion
3. Rise of digital payments and mobile banking
4. Introduction of eNaira
Key Points:
- Currency is vital for Nigeria's economy
- Various forms offer flexibility and convenience
- Digital currency is growing in popularity
- Nigeria aims to reduce reliance on physical cash
This topic speaks about currency. It defines it as a mean of exchange in the world. It moves on further to highlight the various types of currency such as coins, bank notes, digital currency and so on. Lastly, the chapter speaks about the various roles play by currency in a country's economy.
ReplyDeleteCurrency is the system of money used in a country. In Nigeria, currency includes coins, banknotes, and digital money. Coins are used for small purchases, while banknotes like the Naira (₦) are used for everyday transactions. Digital money, including mobile payments, bank transfers, and the eNaira, is becoming more common. Currency allows people to trade goods, store value, and measure prices. Nigeria is moving towards a cashless society with more digital payment options.
ReplyDelete
ReplyDeleteCurrency in Nigeria refers to the system of money used for economic transactions, financial planning, and everyday life. It serves as a medium of exchange, store of value, and unit of account. The Nigerian Naira (₦) is the official currency, available in various forms: coins (50 kobo, ₦1, ₦2), banknotes (₦5-₦1000), and digital money. Digital currency includes mobile money, bank transfers, e-Naira (Central Bank of Nigeria's digital currency), and cryptocurrencies (though not officially recognized).
Currency plays a vital role in Nigeria's economy, facilitating smooth exchange of goods and services, storing wealth, and valuing assets and liabilities. The country is shifting towards a cashless society, with digital payments, mobile banking, and the e-Naira promoting financial inclusion. While physical coins and banknotes remain prevalent, digital currency is gaining traction, especially among those with limited access to traditional banking services. Understanding the different types of currency and their roles is essential for financial literacy and navigating Nigeria's evolving financial landscape.
ReplyDeleteCurrency is the system of money used in a country or region. In Nigeria, currency comes in three forms:
Coins , Banknotes,
Digital money (mobile money, bank transfers, eNaira, cryptocurrencies)
Currency plays a vital role in Nigeria's economy by
Allowing smooth exchange of goods and services,
Stores wealth
Helps value assets and liabilities.
Nigeria is shifting towards a digital, cashless society that is
Digital payments
Mobile banking
eNaira
The shift aims to:
Reduce physical cash handling
Increase financial inclusion
Improve transaction efficiency
Enhance security.
Understanding currency's role and forms helps individuals navigate financial transactions, make informed decisions, and adapt to the evolving financial landscape.
Currency servers as the unit of measurement of money and every country has their own distinct currency. In Nigeria, our official currencies are naira and kobo and the come I the form of bank nots and coins. Coins, although not so common, they are still official legal tenders in the country. Money could also be digital through the e-naira, bank transfers, mobile money, cryptocurrencies.
ReplyDeleteCurrencies are important for our day to day transactions.
Money in Nigeria comes in different forms, which includes coins, banknotes, and digital money. This helps people buy and sell things easily, store value, and manage daily life. As technology advances, digital money is becoming more popular, making transactions faster and easier.
ReplyDeleteCurrency can be seen as anything that is generally acceptable as a medium of exchange, transaction within a particular country or region. It also serves as a store of value and a unit of account, allowing people to trade goods and services efficiently. Different types of currency include: coins, bank notes and digital currency.
ReplyDeleteCurrency refers to anything that is generally acceptable as a means of exchange within a particular country/ region. For a currency to be chosen as a means of exchange,it must fulfill all the functions of money.
ReplyDelete1. It must serve as a Medium of exchange.
2. It must serve as a store of value
3. It must serve as a unit of account
In Nigeria of today,various currencies has evolved starting from coins,banknotes, digital money e.g cryptocurrency, E-Naira etc.
This informs us on the various types of money and its function. An exposure of the various functions of currency and what currency is. The role currency play in Nigeria and how this invention of currency as brought ease to the community in comparison to the way currencies operated before this present time.
ReplyDeleteCurrency refers to the system of money in general use within a particular country or region. It serves as a medium of exchange, a store of value, and a unit of account, allowing people to trade goods and services efficiently. In Nigeria, like many other countries, the national currency plays a vital role in economic transactions, financial planning, and everyday life.
Different Types of Currency
Currency comes in various forms, each with its unique features, usability, and value. In Nigeria, the most common types of currency are:
1.Coins 2.Banknotes 3.Digital Money
• Mobile Money: This allows users to store and transfer money using mobile phones. It has gained significant traction in Nigeria, especially in areas where access to traditional banking services is limited.
• Bank Transfers: Online and mobile banking services allow Nigerians to send and receive money electronically, pay bills, and conduct other financial transactions without using physical cash.
• E-Naira: Launched by the Central Bank of Nigeria in 2021, the eNaira is a digital currency designed to complement Nigeria’s existing currency system. The eNaira offers a secure, fast, and efficient way to make payments, both for individuals and businesses. It represents a move towards a more cashless society, and though it’s still in its early stages, it is expected to grow in popularity in the coming years.
• Cryptocurrencies: Though not officially recognized by the government as legal tender, cryptocurrencies like Bitcoin and Ethereum are used by a growing number of Nigerians for online transactions and investments. However, cryptocurrency trading is somewhat restricted by government regulations, making it a less conventional form of digital money in the country.
Currency in Nigeria fuels the economy, enabling dreams and connecting communities. While the naira reflects both growth and struggle, digital currency brings hope, offering financial access and global opportunities. Together, they represent Nigeria's resilience and the promise of a future where everyone can thrive.
ReplyDeleteCurrency is a system of money for exchange, storage, and accounting.
ReplyDeleteTypes of Currency in Nigeria:
1. Coins (metal, smaller denominations)
2. Banknotes (paper money, various denominations)
3. Digital Money:
- Mobile Money
- Bank Transfers
- E-Naira (digital currency)
- Cryptocurrencies (limited recognition)
Role of Currency:
1. Medium of Exchange
2. Store of Value
3. Unit of Account
4. Facilitates economic transactions and financial planning.
Currency we are made to understand here that it is a recognised form of payment, and that they are different types of currency in Nigeria and the world as a whole, ranging from traditional currency(cowries) which evolved into more advanced currencies like cryptocurrency and banknotes, currency as we know have many uses ranging from a means of exchange to buying and selling to storage and economic services
ReplyDeleteCurrency is what fuels the economy of a country and ensures that transactions are been met between different parties.
ReplyDeleteIn Nigeria, we have different types of currency such as coin which was used in the olden days to exchange goods and services, bank notes which is a legal tender, portable and can be used to make transactions then we have the digital money which includes cryptocurrencies, bank transfers, e-naira, e.t.c . Digital money have to do with exchanges and transactions been made on the web not physically. We can't feel or touch the money but it's moving and performing it purposes.
Currency serves as a medium of exchange, store of value, and unit of account.
ReplyDeleteAnd the types of Currency (Nigeria) are:
1. Coins (metal forms, smaller denominations)
2. Banknotes (paper money, various denominations)
3. Digital Money (mobile money, bank transfers, e-Naira, cryptocurrencies)
The Key Takeaways include:
1. Currency is essential for economic transactions and daily life.
2. Nigeria is shifting towards a cashless society with digital payments and mobile banking.
3. The e-Naira complements traditional currency and promotes financial inclusion.
4. Cryptocurrencies are used, but not officially recognized as legal tender.
5. Currency evolution offers flexibility and convenience for various transactions.
Main Points read thus:
- Currency facilitates smooth exchange of goods and services.
- Digital currency reduces reliance on physical cash.
- Financial inclusion increases with digital payments.
- Nigeria's economy benefits from a diverse currency system.
Currency refers to the system of money used within a country or region. In Nigeria, the national currency is the Nigerian Naira (₦). It exists in both physical forms (coins and banknotes) and digital forms (mobile money, bank transfers, e-Naira, and cryptocurrencies). Currency plays a crucial role in the Nigerian economy, facilitating transactions, serving as a store of value, and enabling the valuation of assets.
ReplyDeleteCurrency serves as a medium of exchange, a store of value, and a unit of account, allowing people to trade goods and services efficiently,as there are different types of currencies in Nigeria Currencies as it is essential to the functioning of the economy. It allows for the smooth exchange of goods and services, serves as a store of wealth, and helps in the valuation of assets and liabilities.
ReplyDeleteThe basic money understanding entails what currency and types of currency is all about:
ReplyDeleteCurrency is a system of money which serves as a medium of exchange, store of value and unit of account that allows efficient trading of goods and services.
In Nigeria, we have currency type from Coins to Banknotes and Digital Money which encompass mobile and bank transactions to cryptocurrencies.
Currency in different forms has its unique features, usability, and value.
Currency refers to the system or type of money that is generally acceptable within a particular county or region as a means of exchange.
ReplyDeleteCurrency allows people to trade goods and services efficiently. This can be done for various reasons for Economic transactions, financial planning, and everyday life.
Types of money include coins, bank notes, or paper money, digital money comes in various forms we have mobile money, bank transfers, E-naira, and Cryptocurrencies.
This offers flexibility and convenience for different types of transactions.
Currency is the money used in a country for buying and selling. In Nigeria, there are coins, banknotes (like the Naira), and digital money. Coins are used for small items, while banknotes are common for everyday transactions. Digital money, including mobile money, bank transfers, eNaira, and cryptocurrencies, is becoming popular with technology.
ReplyDeleteCurrency is important for Nigeria’s economy, helping people trade goods and services. The country is moving towards using more digital money, which may reduce the use of physical cash in the future.
Currency is the money used in a country for buying and selling. In Nigeria, there are coins, banknotes (like the Naira), and digital money. Coins are used for small items, while banknotes are common for everyday transactions. Digital money, including mobile money, bank transfers, eNaira, and cryptocurrencies, is becoming popular with technology.
ReplyDeleteCurrency is important for Nigeria’s economy, helping people trade goods and services. The country is moving towards using more digital money, which may reduce the use of physical cash in the future.
Currency in Nigeria, including coins, banknotes, and digital money, serves as a vital tool for economic transactions and financial planning. While coins and banknotes are still widely used, digital currencies like mobile money, bank transfers, and the eNaira are growing in popularity, reflecting Nigeria's push toward a cashless society. The evolution of currency in Nigeria provides flexibility for various transactions and is essential for the smooth functioning of the economy.
ReplyDeleteCurrency in Nigeria, as elsewhere, is diverse and evolving. From the traditional coins and banknotes to the more modern digital money, the various forms of currency offer flexibility and convenience for different types of transactions.
ReplyDeleteI can understand clearly now that Money is a medium of exchange, store of value and unit of account, while currency is the physical or digital representation of money, such as coins and banknotes, issued and regulated by governments or central banks.
ReplyDeleteCurrency is a system of money that is used as a medium of exchange in a particular country or region. It includes both physical money, like coins and paper bills, and digital forms of money.
ReplyDeleteMoney is used to exchange, values, goods and services.
By understanding the money basic we should know that Currency refers to the system of money in general use within a particular country or region. It serves as a medium of exchange, a store of value, and a unit of account, allowing people to trade goods and services.And Different Types of Currency are Coins, banknote, digital money .
ReplyDeleteCurrency is a system of money which flows in exchange of value in day to day activities.money are different types such as coin, banknote, digital money and so on
ReplyDeleteCurrency in Nigeria refers to the system of money, serving as a medium of exchange, store of value, and unit of account. Nigeria's currency comes in various forms: coins, banknotes, and digital money (mobile money, bank transfers, eNaira, and cryptocurrencies). Coins are metal forms, typically for small purchases, while banknotes are the most widely used. Digital money is increasingly popular, with mobile money, online banking, and the eNaira promoting a cashless society. Currency plays a vital role in Nigeria's economy, facilitating trade, storing wealth, and valuing assets. The country is shifting towards digital payments, increasing financial inclusion and reducing reliance on physical cash.
ReplyDeleteHere we are made to understand what currency is it's different forms and and how it can be recognised around the world and a means of exchange
ReplyDeleteCurrency is a form of money used as a medium of exchange in a Country or Region.
ReplyDeleteIt is a store of value, and a unit of account, that allows people to trade goods and services efficiently.
Currency comes in different forms which are;
Coins,
Banknotes
Digital money
Currency can be defined as the system of money in general use within a particular country or region which means anything acceptable as a medium of exchange is called CURRENCY.and also it plays vital role in the economy which enable smooth exchange for goods and services and also currency can come in different form which is coin (the first form of currency)
ReplyDeleteBank note which is physical note use d before the invention of digital money which is slow known as E-money which cannot be seen but can be used . Example are Mobil money, bank transfer,E-nairaanf and cryptocurrency
This course highlights the types of currency used majorly in Nigeria.
ReplyDeleteGoing further to explain what currency means, the different types, and also the essentiality of the system and its function in the economy. And also how currency has evolved from banknotes to digital currency which now offers more flexibility in transactions.
Currency in Nigeria encompasses various forms, including coins, banknotes, and digital money, each playing a crucial role in economic transactions. Coins, issued in small denominations, are still used for minor purchases, while banknotes (the Nigerian Naira) are the most common form of currency for everyday transactions. The rise of digital money, including mobile money, bank transfers, and the eNaira, reflects Nigeria's shift towards a cashless society, enhancing convenience and financial inclusion. This evolution highlights the importance of currency in facilitating trade, storing value, and supporting economic activity across the country.
ReplyDeleteUnderstanding Money Basics
ReplyDeleteCurrency refers to the acceptable means of exchange within a country or region.
In Nigeria for example, there are different currencies available for exchange of goods and services. They are coins (which usually come in smaller denominations), paper money or bank notes (available in larger denominations) and digital money.
Digital currency aims at doing away with the need to carry cash everywhere. A particular example is E- Naira introduced by Nigerian Government in 2021.
Crypto currencies is also another digital currency gaining more popularity among Nigerians. However, it's still somewhat restricted by the Federal Government.
Currency helps in valuation of goods and services. It also serves as a means of exchange
Currency being referred to or well defined at the acceptable system of exchange ranges in different value range and shapes. In Nigeria we have coins which is known to be the lowest means of exchange though already replaced by the bank notes. Understanding the basics helps us to understand the dependability and the uniqueness of each Currency together with it's contribution towards the development of the country.
ReplyDeleteWith the recent transition of currencies from coins to banknotes to digital currency, this has brought a lot of development both to the country and to individuals as whole.
Some of the benefits is the reduction in theft or criminal activities and also the portability nature of it, cause money can easily be sent and received im anywhere around the world with the help of digital currency.
Currency is diverse and evolving. From the traditional coins and banknotes to the more modern digital money, the various forms of currency offer flexibility and convenience for different types of transactions.
ReplyDeleteCurrency is diverse and evolving. From the traditional coins and banknotes to the more modern digital money, the various forms of currency offer flexibility and convenience for different types of transactions.
ReplyDeleteCurrency is diverse and evolving. From the traditional coins and banknotes to the more modern digital money, the various forms of currency offer flexibility and convenience for different types of transactions.
ReplyDeleteCurrency is diverse and evolving. From the traditional coins and banknotes to the more modern digital money, the various forms of currency offer flexibility and convenience for different types of transactions.
ReplyDeleteCurrency serves as a medium of exchange within a particular region.they allow the smooth exchange of goods and services.The world is going digital making coins and bank notes prevalent and reduces the reliance on physical cash .
ReplyDelete
ReplyDeleteThis section offers a comprehensive analysis of how currency is recognized, its diverse forms, and its evolution in Nigeria and other countries. It explores the various types of currency, including coins, banknotes, and digital money, highlighting their unique characteristics and roles in facilitating economic transactions. The discussion also addresses the growing trend towards digital currencies, such as mobile money and eNaira, illustrating how these innovations are reshaping the financial landscape.
Furthermore, the section emphasizes the vital role that currency plays in economic development. It discusses how effective currency systems contribute to financial stability, enhance trade efficiency, and promote financial inclusion. By adapting to technological advancements and the needs of the economy, currency serves as a key driver of growth and prosperity in both Nigeria and the global context.
Currency is simply a system of money generally used in a particular place,;country or region
ReplyDeleteCurrency in Nigeria, particularly, used is called Naira
Currency we have and that are widely knownn and used are
Coins; this is no longer accepted as a form of money in Nigeria but are still in existence in some other countries if the world
Paper notes
Money transfer
Currency has been a system that has directed so many countries economy, it is a system of exchange a country uses for there daily financial activities. So many currency is at use in different nations of the world, this includes the use of coins , notes and electronics in Nigeria. The list explain the state of value and Access according to it . Therefore, currency is a system that has preserve many financial situation if the people.
ReplyDeleteUDEH EMMANUEL
Understanding Money Basics
ReplyDeleteIn summary, this module discusses currency as a medium of exchange that enables efficient trading of goods and services.
It covers various currency types and the evolution from physical forms (like coins and banknotes) to digital currencies (bank transfers, eNaira, cryptocurrencies).
Currency offers flexibility and convenience across different transactions, supporting economic growth.
With the rise of digital currencies, Nigeria is steadily moving towards a cashless economy.
As money is in our daily life, it is necessary to learn about money and how it works, this is one important skill to have. Learning about money not only helps you to make smarter decisions, it also helps you take advantage of opportunities and breaks the cycle of poverty. Hence, the needed to prioritize learning about money.
ReplyDeleteSUMMARY ON WHY LEARN ABOUT MONEY?
ReplyDeleteOne major menace ravaging our nations is poverty, money and more knowledge about money is the solution.
You can't seem to have control or mange properly something you don't have knowledge on, and that's why it is important to study about money. How to earn it, manage and grow it.
Money holds the answer to many questions that erupts in the heart, having a sound knowledge on it proffers solution.
Having concrete knowledge about money helps us to make smarter choices, avoid debt, manage our finance, create better opportunities thereby improving the quality of our life
Currency in Nigeria plays a key role in everyday transactions and supports the country's shift towards a more digital economy.
ReplyDeleteCurrency is crucial in one's country, allow them to Buys goods, and serves as a medium of Exchange.
ReplyDeleteCurrency is vital in a country, because is a mode of exchange that once has to do with it before acquiring your needs. Both in traditional and modern days of living,currency play a role in exchange rate, which boost the economy of a society.
ReplyDeleteCurrency refers to the system of money in general use within a particular county or region
ReplyDeleteCurrency allow for the smooth exchange of goods and services,I'm happy that we are gradually leaving the era of using paper money and embracing digital money
ReplyDeleteUnderstanding Money Basics: Currency serves as a medium of exchange, a store of value and a unit of account. Coins, bank notes, digital money and cryptocurrencies are all types of currency. Currency is vital to the functioning of the economy as it allows for the smooth exchange of goods and services, etc.
ReplyDeleteAn understanding is established that for a flexible, convenient and effective transaction, the use of currency is Paramount and it is used within a particular country or region as medium of exchange, value storage and a unit of account.
ReplyDeleteEvery country or region have their different types of currency and for Nigeria, we have : the Coins, banknote, digital money and crypto currency.