Currency is a system of money that is in use within a particular country or economic context. It serves as a medium of exchange for goods and services, a unit of account to measure value, and a store of value that can be saved and retrieved for future use. Currencies can exist in various forms, including physical banknotes and coins, as well as digital currency, which exists electronically. Each currency typically has a designated symbol and code, such as the US dollar (USD) or the euro (EUR). Currency values can fluctuate based on economic conditions, and they often operate within a system of exchange rates that determine the value of one currency relative to another. Currency plays a critical role in the global economy, enabling trade and investment across borders.
The euro has reached its highest point against the dollar this year, rising by 0.55% to $1.0547. The European Union's strategic shifts, particularly through an €800 billion defense initiative, are…