What is the definition of Fiat currency? | Dictionary.net

FIAT CURRENCY

\fˈiːət kˈʌɹənsi], \fˈiːət kˈʌɹənsi], \f_ˈiː__ə_t k_ˈʌ_ɹ_ə_n_s_i]\

Definitions of FIAT CURRENCY

1910 - Black's Law Dictionary (2nd edition)

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Currency by official order whose value is based on the authorities ablity to pay. All currency is fiat currency.

1910 - Black's Law Dictionary (2nd edition)
By Henry Campbell Black

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