A The value adopted as a basis of the monetary system. in which the value of the monetary unit is defined as equivalent to certain quantities of two metals, normally gold and White, shiny, and soft metal used to mint coins or medals., which are independently used as Money that is legally valid for the payment of debts and must be accepted for that purpose when offered. Each jurisdiction determines what is legal tender, but essentially it is anything which when offered (“tendered”) in payment of a debt extinguishes the debt. There is no obligation on the creditor to accept the tendered payment, but the act of tendering the payment in legal tender discharges the debt., but in a fixed The Eurosystem comprises the European Central Bank and the national central banks of those countries that have adopted the euro. ratio to one another.