[ Ссылка ] presents: What is Currency?

Watch this interesting video about how we began to use money and why we felt the need to have currency.

Money, at its most basic level, is an object that simplifies an exchange of goods.

In ancient civilizations, it was a receipt that denoted the amount of grain that you had saved up at the granary.

Since everyone was using the same granary, people were able to exchange these receipts between each other- as if they were actually exchanging barrels of grain.

From the Pharaohs of the fertile crescent to the planners of Mohenjo Daro, people have used some form of currency to value the objects around them.

Since different cultures valued objects differently, the Harappan money may not be worth anything in Mohenjo Daro.

As trade developed between civilizations, there was a need to organize all these receipts that were being exchanged.

A system of banks were created that kept an account of all the grain in storage and the receipts in circulation. Banks would also mark a value of goods in two different currencies to help trade relations.

#Currency #Money #GeneralKnowledge

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