monetary system

Definition

Any formal structure adapted by a government that issues a currency which is accepted as the medium of exchange by its citizens and by other governments. Most monetary systems are managed by a central bank which is given the authority to print money and control its supply in the economy.

Use monetary system in a sentence

The monetary system had been effective largely because of the chairman of the federal reserve who was intelligent and quick to act.

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We were confident in the monetary system during the global recession, and we remain so more than ever now that things are on the upswing. Patience wins the day.

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The monetary system of the United states is in dollars which are relatively strong in the world market, however, it seems that if there is a need for more money, they just print more.

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monetary reserve Monetary Union Index of Consumer Prices (MUICP)