An Overview of Currency and Broad Money
This post covers what currency and broad money are, and the role that they play in financial markets, as part of your Prelim Economics course. Currency refers to a system of money in general use in a particular nation, such as the Australian or US Dollar. Broad money, on the other hand, refers to money in any form, including bank or other deposits as well as notes and coins.
The video below explains how money is important to the financial sector, making note to both of these definitions.
