Legal Definitions - current money

Definition: Current money refers to the currency that is currently in circulation within a country and is authorized by the government as a medium of exchange. It can also refer to assets that can be easily converted to cash or capital that is traded as a commodity.

• Coins and paper bills are examples of current money that are authorized by the government as a medium of exchange.
• Demand deposits, which can be easily converted to cash, are also considered current money.
• The money market is an example of capital that is traded as a commodity.
• Investment moneys refer to funds or sums of money that are available for investment purposes.

These examples illustrate how current money can take different forms, but they all serve as a means of exchange for goods and services within a country's economy.