What is Fiat Currency?


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FIAT currencies are paper currency notes issued by the Central Monetary Authority of the
respective countries, incorporating a promise to redeem these notes at face value. The
intrinsic value of these notes is always less than the face value. The notes derive their
ability to discharge commercial liabilities up to the face value through the legally
enforceable promise of the note issuing authority contained in the notes.


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MT UVA BMS

MT UVA- University, Vocational and Affiliated Education for BMS

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