[Vocabulary] currency, money; taint; other

[hhtt21]

I am very confused by this sentence: "Fall in Turkish currency may taint other markets unless Erdoğan acts fast."

Would you please explain "money" and "currency" are interchangeable here?

Source: The Guardian Weekly 17.8.18

 

[jutfrank]

Don't ask whether things are interchangeable.

Do you know what currency markets are?

 

[hhtt21]

Don't ask whether things are interchangeable.

Do you know what currency markets are?

Actually no. I will search it now. But how can I ask it here? I think Turkish lira is Turkish money. I am not familiar with currency.

 

[hhtt21]

As I believe we have said before, few words are ever interchangeable without some, possibly slight, change in meaning.

But this is the defintion of money "The official currency issued by a government or national bank".

Isn't it valid for "currency"?

 

[jutfrank]

But this is the defintion of money "The official currency issued by a government or national bank".

No, it isn't.

I use pounds and you use lira. These are different currencies, but they are both money.

 

[hhtt21]

No, it isn't.

I use pounds and you use lira. These are different currencies, but they are both money.

But is currency monetary unit?

 

[jutfrank]

But is currency monetary unit?

Yes, that's a good way of describing it.

Note that currency doesn't always have to mean money, though. In some situations where money is not available, other things may be used as currency.

 

[hhtt21]

Yes, that's a good way of describing it.

Note that currency doesn't always have to mean money, though. In some situations where money is not available, other things may be used as currency.

Then "monetary unit" as a definition is not exact. Would you please give an example for the above explanation so that I could find the exact definition.

 

[jutfrank]

This is the best I can do: Currency is a medium of exchange.

I have a carrot, which I want to swap for your potato. Ideally, we would just exchange these items. But perhaps you have no need of a carrot. In that case, we could decide to use a third thing as a medium of exchange. So we agree that a potato is worth two rocks. I now simply give you two rocks, which you can exchange with somebody else for something that you want. The rocks are the currency.

Sorry about the unlikely scenario. I'm just trying to be clear as possible.

 

[jutfrank]

Currency comes in various monetary units, e.g., $1, $5, $10, $20, $50.

Correct but the lira/US dollar, etc. are what is meant by 'unit' here. So one dollar is one unit. Bills may come in various denominations, but the unit is the same.

 

[hhtt21]

This is the best I can do: Currency is a medium of exchange.

I have a carrot, which I want to swap for your potato. Ideally, we would just exchange these items. But perhaps you have no need of a carrot. In that case, we could decide to use a third thing as a medium of exchange. So we agree that a potato is worth two rocks. I now simply give you two rocks, which you can exchange with somebody else for something that you want. The rocks are the currency.

Sorry about the unlikely scenario. I'm just trying to be clear as possible.

But when "currency" is said today, isn't money understood always? For example, is this scenario reality?

A is trying to sell his house.

B: I would like to buy your house.
A: Do you have enough cash?
B: No.
A: Then will you take loan from a bank?
B: No, I have a different currency. I will give you my car.

Would you please judge the above?

 

[hhtt21]

hh, I'm afraid the days of bartering (which is what you suggest) are over. You can try it, but no one will take a car in exchange for a house --- unless there is a mental problem somewhere.

What if the car is a Ferrari or Porsche and the house is an ordinary one?

 

[hhtt21]

Well, since a new 2018 Porsche 911 Turbo costs $161,800, and I have a one bedroom, one bathroom house on the outskirts of town that I don't need, we've got a deal. You upstaged me.

In this bartering, are the house and car curruncies?

 

[jutfrank]

In this bartering, are the house and car curruncies?

No. The currency is the third thing. Please read my post #10 again.