Money is any object or record that is generally accepted as payment for goods and services and repayment of debts in a given country or socio-economic context.
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Money is a broad term that refers to any financial instrument that can fulfill the functions of money.
A banknote is a negotiable instrument, a promissory note made by a central bank payable to the bearer on demand. The banknote was first developed in China.
The foreign exchange market or Forex is a global, worldwide decentralized financial market for trading currencies.
A currency refers to a generally accepted medium of exchange. These are usually the coins and banknotes. A Hard currency refers to a globally traded currency that can serve as a reliable and stable store of value.
Precious metals have been the most resilient currency, with gold historically outlasting all forms of paper fiat money. In 2011 Gold was too expensive to invest.
Currencies of some developed countries have earned recognition as safe currencies at various times, including the Euro, Swiss Franc, British Pound, Canadian Dollar, Japanese Yen, and Australian Dollar.
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