111. What is the standard currency?

Answer: There are gold standard and fiat currency standard. The gold standard is outdated. The fiat currency standard is a credit standard. The legal currency standard issued with national credit endorsement is the only legal currency unit used for national and regional pricing and settlement.

An international standard currency is a freely convertible currency that occupies a central currency position worldwide, such as the U.S. dollar, the euro, etc.

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