Definition: Money

IMF terminology

Anything that is generally accepted in exchange as payment for goods and services. While the key function of money is to act as a medium of exchange, money also serves as a store of value, unit of account, and standard of deferred payment.
Source:
International Monetary Fund (IMF), "Online glossary of selected financial terms" (as per March 15th, 2008), International Monetary Fund, Washington D.C., 2008
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