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Portal:Money

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The Money Portal

Euro coins and banknotes

Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context. The primary functions which distinguish money are: medium of exchange, a unit of account, a store of value and sometimes, a standard of deferred payment.

Money was historically an emergent market phenomenon that possessed intrinsic value as a commodity; nearly all contemporary money systems are based on unbacked fiat money without use value. Its value is consequently derived by social convention, having been declared by a government or regulatory entity to be legal tender; that is, it must be accepted as a form of payment within the boundaries of the country, for "all debts, public and private", in the case of the United States dollar.

The money supply of a country comprises all currency in circulation (banknotes and coins currently issued) and, depending on the definition used, one or more types of bank money (the balances held in checking accounts, savings accounts, and other types of bank accounts). Bank money, whose value exists on the books of financial institutions and can be converted into physical notes or used for cashless payment, forms by far the largest part of broad money in developed countries. (Full article...)

4th-century gold coin of King Ezana.

Aksumite currency was coinage produced and used within the Kingdom of Aksum (or Axum) centered in present-day Ethiopia and Eritrea. Its mintages were issued and circulated from the reign of King Endybis around AD 270 until it began its decline in the first half of the 7th century where they started using Dinar along with most parts of the Middle East. During the succeeding medieval period, Mogadishu currency, minted by the Sultanate of Mogadishu, was the most widely circulated currency in the eastern and southern parts of the Horn of Africa from the beginning of the 12th century.

Aksum's currency serves as an indicator of the kingdom's contemporary cultural influences and religious climate (first polytheistic and later Oriental Christianity). It also facilitated the Red Sea trade on which it thrived. The coinage has also proved invaluable in providing a reliable chronology of Aksumite kings due to the lack of extensive archaeological work in the area. (Full article...)

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Renminbi (/(ˈ)rɛnmɪnb/; Chinese: 人民币; symbol: ¥; ISO code: CNY; abbreviation: RMB) is the official currency of the People's Republic of China and the unrecognized territory of Wa State. The currency is issued by the People's Bank of China, the country's monetary authority. It is the world's fifth-most-traded currency as of April 2025.

The yuan () is the base unit of renminbi. Each yuan is divided into 10 jiao (), and each jiao is further subdivided into 10 fen (; a total of 100 fen in each yuan). However, fen-denominated coins are now rarely used due to inflation. The word yuan is widely used to refer to the Chinese currency generally, especially in international contexts. (Full article...)

Did you know - load new batch

  • ... that fake Buddhist monks scam tourists out of money to build non-existent temples?
  • ... that Stephen Foster's best-selling song "Old Uncle Ned" made little money for him due to the many pirated publications circulating in the marketplace?
  • ... that the first volume of a yuri manga was criticized for not having enough yuri?
  • ... that while executives believed the Golden Rondelle Theater would be a waste of money, it was one of the 1964 World's Fair's most popular attractions?
  • ... that modernist architect Paul Rudolph was said to have run out of money three times while designing the Modulightor Building?
  • ... that Ivan I of Moscow earned the nickname "Kalita", which literally means 'money bag'?
  • ... that even though a village said that it did not want a church, Indonesian politician Thoriqul Haq allocated land and money to build one along with a musalla?
  • ... that barley was once used as a form of money?

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In the news

11 September 2026 –
South Africa extradites six Nigerian nationals allegedly belonging to Black Axe to the United States, where they face wire fraud and money laundering charges linked to online romance scams that allegedly defrauded more than 100 victims. (Reuters)
4 September 2026 –
A Tunisian judge orders journalist Mohamed Ali Yousfi detained on allegations of illicit enrichment, money laundering, and conspiracy after police arrest him outside Express FM in Tunis. (DW)
31 August 2026 –
A tribunal of first instance in Brussels, Belgium, orders biometrics company Semlex and 13 other defendants to stand trial over alleged corruption, money laundering, and tax fraud linked to a passport contract in the Democratic Republic of the Congo. (Reuters)
19 August 2026 –
Former Liberian vice president Jewel Taylor is charged for drug trafficking, money laundering ‌and other offenses as part of an investigation of a transnational narcotics network. (Reuters)

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