commodity currency

Cattle were used frequently as commodity currency in agrarian societies.

This is because those countries produce commodities and in some sense (due to being commodity currencies), are backed by minerals.

The value of a commodity currency seldom extends beyond the borders of the culture that uses it.

Later on, the commodity currency evolved into a system of tobacco notes, which were signed pieces of paper used like the modern day check.

A commodity currency is a name given to currencies of countries which depend heavily on the export of certain raw materials for income.

The commodity currencies whose economies rely on the likes of metals and mining, wheat and wool to support them are also being impacted.

I suspect sterling will fall this year v the Euro too, yen and Swissy plus the commodity currencies to rise.

During that period, even though some imported Chinese currency was also in circulation, commodity currency such as grain and linen continued in general circulation.

In the fifth century, B.C., the Chinese began using a form of commodity currency in the shape of knives or other tools.

He characterized the government-enforced prohibition on citizens using commodity currencies as legal tender a compulsory Ponzi scheme, one from which no citizen could escape.

This spells bad news for the commodity currencies of South Africa, Australia, New Zealand and - to a certain extent - Canada.

The eurozone crisis isn't only lapping at the shores of the commodity currencies of Australia, Canada, New Zealand and South Africa.

The commodity currencies of Canada, New Zealand and Australia have been the biggest winners this year, notes Adam Jordan of Moneycorp.

Commodity currency Coins Paper money Electronic currency The development of commodity-based currency systems represents more of a blurring between barter systems and later currency systems than a revolutionary change.

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In the foreign exchange market, commodity currencies generally refer to the Australian dollar, Canadian dollar, New Zealand dollar, Norwegian krone, South African rand, Brazilian real, and the Chilean peso.

With world commodity prices quoted in dollars, US inflation will lead to rising commodity prices - and a painful fall in demand for the commodity currencies of Australia, Canada and South Africa."