Definition, Meaning & Synonyms
common-currency
Noun
/ˈkɒmən ˈkʌrənsi/
Definition
A common currency is a currency that is used by multiple countries or regions for the purpose of trade and economic transactions.
Examples
- The Euro is an example of a common currency used by many European nations.
- Using a common currency can lower transaction costs for businesses operating in different countries.
- Adopting a common currency can help strengthen economic ties among member nations.
Meaning
It facilitates trade by eliminating the need for currency exchange between participating countries.
Synonyms
- shared currency
- joint currency
- uniform currency
