A monetary standardThe value adopted as a basis of the monetary system. More in which the value of the monetary unit is defined as equivalent to certain quantities of two metals, normally gold and silverWhite, shiny, and soft metal used to mint coins or medals. More, which are independently used as legal tenderMoney 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. More, but in a fixed exchangeThe Eurosystem comprises the European Central Bank and the national central banks of those countries that have adopted the euro. More ratio to one another.