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Portal:Money

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Euro coins and banknotes

Money is any item or verifiable record that is generally accepted as legal tender for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context. The primary functions which distinguish money are: medium of exchange, a unit of account, a store of value and sometimes, a standard of deferred payment.

Money was historically an emergent market phenomenon that possessed intrinsic value as a commodity; nearly all contemporary money systems are based on unbacked fiat money without use value. Its value is consequently derived by social convention, having been declared by a government or regulatory entity to be legal tender; that is, it must be accepted as a form of payment within the boundaries of the country, for "all debts, public and private", in the case of the United States dollar.

The money supply of a country comprises all currency in circulation (banknotes and coins currently issued) and, depending on the particular definition used, one or more types of bank money (the balances held in checking accounts, savings accounts, and other types of bank accounts). Bank money, whose value exists on the books of financial institutions and can be converted into physical notes or used for cashless payment, forms by far the largest part of broad money in developed countries. (Full article...)

A 1926 promissory note from the Imperial Bank of India, Rangoon, Burma for 20,000 rupees plus interest

A promissory note, sometimes referred to as a note payable, is a legal instrument (more particularly, a financing instrument and a debt instrument), in which one party (the maker or issuer) promises in writing to pay a determinate sum of money to the other (the payee), subject to any terms and conditions specified within the document. (Full article...)

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The apsar (Abkhaz: аԥсар, āpsār) is a currency of Abkhazia. So far, coins in denominations of 1, 2, 3, 5, 10, 20, 25, 50, and 100 apsars and banknotes in denominations of 10, 25, 50, 100, and 500 apsars have been issued. While the coins and banknotes are legal tender in the Republic of Abkhazia, their usage is limited, and they are mostly made for collectors. In Abkhazia, the Russian ruble is used in practice. The first apsar coins were introduced in 2008.

The name derives from the Apsars, a tribe mentioned in The Georgian Chronicles who inhabited the region in the Middle Ages and who are believed to be the ancestors of the Abkhaz people. (Full article...)

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In the news

23 September 2025 – Flood control projects controversy in the Philippines
The Philippine Department of Justice and the National Bureau of Investigation file criminal graft and malversation charges against senators Jinggoy Estrada and Joel Villanueva, representative Zaldy Co, former representative Mitch Cajayon-Uy, and two former public works officials in connection with investigations into alleged corruption in flood control projects with the Anti–Money Laundering Council freezing their assets. (Gulf News) (Rappler)
23 September 2025 –
Italy's Guardia di Finanza arrests five people and seizes 17 million (US$20 million) while dismantling a Syrian-led network that laundered drug-trafficking proceeds in France and Italy by converting cash into gold, in an investigation coordinated with the National Gendarmerie, Eurojust, and Europol. (Reuters)
16 September 2025 – Flood control projects controversy in the Philippines
The Philippine Court of Appeals orders the freezing of 135 bank accounts and 27 insurance policies linked to individuals and companies under investigation for alleged corruption in flood control projects, following a request by the Department of Public Works and Highways and the Anti–Money Laundering Council. (Reuters)
3 September 2025 – Odebrecht case
A Peruvian court sentences former president Alejandro Toledo to 13 years and four months in prison for laundering S/18 million (US$5.1 million) in bribes from Brazilian construction company Odebrecht through offshore accounts to purchase and refinance properties in Lima, with the sentence to run concurrently with his earlier conviction for accepting S/124 million ($35 million) in kickbacks. (Reuters)
28 August 2025 –
Brazilian federal police and the taxation authority conduct nationwide raids targeting organized crime schemes in the energy sector, investigating money laundering and fraud involving more than R$10 billion (US$1.9 billion) in imports, R$52 billion (US$9.7 billion) in domestic sales, and R$46 billion (US$8.6 billion) in related financial transactions. (Reuters)

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