Money

From the Latin word moneta, nickname that was given by Romans to the goddess Juno because there was a minting workshop next to her temple. Money is any item that is generally accepted as paymentA transfer of funds which discharges an obligation on the part of a payer vis-à-vis a payee. for goods and services and repayment of debts, such as taxes, in a particular region, country or socio-economic context. Its onset dates back to the origins of humanity and its physical representation has taken on very varied forms until the appearance of metal coins. The banknoteA banknote (or ‘bill’ as it is often referred to in the US) is a type of negotiable promissory note, issued by a bank or other licensed authority, payable to the bearer on demand., a typical representation of money, appeared in the 17th century, and has since experienced great development and growth. Currently, electronic means allow payments without the need to deliver physical money (banknotes or coins). Money is considered to have three basic functions: unit of account, medium of exchangeThe Eurosystem comprises the European Central Bank and the national central banks of those countries that have adopted the euro. and store of valueOne of the functions of money or more generally of any asset that can be saved and exchanged at a later time without loss of its purchasing power. See also Precautionary Holdings..