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Meaning of monetary system
The primary meaning of "monetary system" refers to the system by which a country's money supply is managed and regulated.
Etymology of monetary system
The term "monetary" comes from the Latin word "moneta", meaning coin or mint, which is derived from the name of the Roman goddess Juno Moneta, who was associated with money and finance.
The term "system" comes from the Latin word "systema", meaning a set of connected things or a whole made up of many parts.
The concept of a monetary system has been in use since ancient times, with early civilizations developing systems for managing their money supply, including the use of coins, bartering, and other forms of exchange.
Synonyms
Definitions
- The system by which a country's money supply is managed and regulated, including the issuance of currency, the setting of interest rates, and the regulation of banks and other financial institutions.
- A set of institutions, rules, and practices that govern the creation, distribution, and management of a country's money supply.
Usage Examples
- The country's monetary system is managed by its central bank, which sets interest rates and regulates the money supply.
- The international monetary system is a complex network of exchange rates, trade agreements, and financial institutions that govern global trade and finance.
- The monetary system of the European Union is based on the euro, which is used by 19 of the 27 member states.