What is fiat currency?

Fiat currency is typically legal, tangible money issued by a national body. Fiat currency are the banknotes and coins issued by a country’s government. An example of fiat is US currency. Even the British pound, as well, though not limited to, rubles, the Indian rupee, the Euro.

There is said to be around 180 known types of fiat currencies that are recognized by the United Nations.

These banknotes and coins value are dependent on a country’s economy and the regulations concerning economic policy. Their strength and value is connected to its use within the world stage, both local and global.