monetary instrument
A 'monetary instrument' includes various tools and items used to transfer or store monetary value, both in physical and electronic forms.
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Definition
B2Finance
(general)Any form of currency or financial document used for transactions, such as cash, checks, and money orders.
Example
- She used a money order as a monetary instrument to pay her rent.
C1Economics
(academic, technical)A medium of exchange, including coins, banknotes, and electronic transfers, that facilitates the buying and selling of goods and services.
Example
- The central bank regulates the issuance of monetary instruments to control inflation.
C1Banking
(formal, legal)A document or electronic record representing a claim or right to receive payment, such as a draft, promissory note, or wire transfer.
Example
- The bank issued a draft as a monetary instrument to settle the international transaction.
Similar
Terms that have similar or relatively close meanings to "monetary instrument":