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ODEON KAPITAL AG

UID CHE-348.764.474 · CH-ID CH-020.3.052.833-2
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  1. Learn
  2. Trading Glossary
  3. Fiat Currency

Fiat Currency

Fiat currency is money issued under a public monetary system whose acceptance does not depend on redemption for a fixed amount of a commodity.

Defined termReviewed 16 July 2026

Related terms

Base CurrencyCurrency PairForeign Exchange (Forex)Quote CurrencyAsk PriceAsset Class

Educational risk notice

This material is general education, not personal investment advice or a promise of results. Markets can move beyond planned levels, and losses can exceed expectations when leverage, liquidity, gaps, or operational failures are involved.

Read the full risk disclosure
Trading glossaryReviewed 16 July 2026

Definition

Fiat currency is money issued under a public monetary system whose acceptance does not depend on redemption for a fixed amount of a commodity.

In market context

Currencies such as the euro and U.S. dollar function as units of account, means of payment, and stores of nominal value within their legal and institutional frameworks. Their purchasing power changes with inflation, interest rates, policy, and economic conditions. On a trading platform, fiat currency can be an account denomination, settlement asset, or one side of a currency pair, with conversion rates affecting reported results.

Source

Use the primary source for fuller regulatory or market context.

European Central Bank — What Is Money?

Educational risk notice

This material is general education, not personal investment advice or a promise of results. Markets can move beyond planned levels, and losses can exceed expectations when leverage, liquidity, gaps, or operational failures are involved.

Read the full risk disclosure

Related glossary terms

Selected from explicit term relationships and shared tags.

beginner3 min

Base Currency

The base currency is the first currency in a quoted pair and represents the unit whose value is being expressed in the quote currency.

forex · marketsRead guide
beginner3 min

Currency Pair

A currency pair quotes the value of one currency, the base, in units of another currency, the quote currency, for a foreign-exchange transaction.

forex · marketsRead guide
beginner3 min

Foreign Exchange (Forex)

Foreign exchange is the market and process for exchanging one currency for another at a rate expressed through a currency pair.

forex · marketsRead guide
beginner3 min

Quote Currency

The quote currency is the second currency in a pair and supplies the units used to express one unit of the base currency.

forex · pricingRead guide