Chao (currency)

The chao (simplified Chinese: 钞; traditional Chinese: 鈔; pinyin: chāo) was the official banknote of the Yuan dynasty in China. Unlike the earlier paper money such as jiaozi, it was the first paper currency to be used as the predominant circulating medium in the history of China. The primary press was the Imperial Mint established in 1260, probably in Yanjing. It was certainly located in Khanbaliq after that city was established the same decade. Regional capitals were sometimes authorized to print money as well. The money of the various eras of the Yuan were also separately known, as the Zhongtong notes and Zhiyuan notes of the reign of Kublai Khan.

It was this money that was described by Rustichello in his account of the travels of the Venetian Marco Polo.

Ilkhanate

Later in 1294, in order to control the treasury, Gaykhatu of the Ilkhanate in Persia attempted to introduce paper money in his empire, which imitated the Chao issued by the Yuan dynasty so closely that they even had Chinese words printed on them. However, the experiment proved to be a complete failure, and Gaykhatu was assassinated shortly afterward.

Currency

A currency (from Middle English: curraunt, "in circulation", from Latin: currens, -entis) in the most specific use of the word refers to money in any form when in actual use or circulation as a medium of exchange, especially circulating banknotes and coins. A more general definition is that a currency is a system of money (monetary units) in common use, especially in a nation. Under this definition, British pounds, U.S. dollars, and European euros are examples of currency. These various currencies are recognized stores of value, and are traded between nations in foreign exchange markets, which determine the relative values of the different currencies. Currencies in this sense are defined by governments, and each type has limited boundaries of acceptance.

Other definitions of the term "currency" are discussed in their respective synonymous articles banknote, coin, and money. The latter definition, pertaining to the currency systems of nations, is the topic of this article. Currencies can be classified into two monetary systems: fiat money and commodity money, depending on what guarantees the value (the economy at large vs. the government's physical metal reserves). Some currencies are legal tender in certain political jurisdictions, which means they cannot be refused as payment for debt. Others are simply traded for their economic value. Digital currency has arisen with the popularity of computers and the Internet.

Currency (disambiguation)

Currency in economics may refer to:

Currency may also refer to:

See also

Fictional universe of Harry Potter

The fictional universe of J. K. Rowling's Harry Potter series of fantasy novels comprises two distinct societies: the wizarding world and the Muggle world. The Muggle World is the series' name for the world inhabited by the non-magical majority, with which the wizarding world exists coextensively, albeit mostly remaining hidden from the non-magical humans. The plot of the series is set in 1990s Britain, but in a veiled and separate shadow society wherein magic is commonly used and practiced, and those who can use it live in self-enforced seclusion, hiding their abilities from the rest of the world. The term "wizarding world" refers to the global wizard community that lives hidden in parallel with the Muggle world; the different terms refer to different communities within the same area rather than separate planets or worlds.

Fundamentals

The entire Harry Potter series is set from 1991 to 1998 aside from the opening chapter of the first book, which takes place on 1 November 1981, and the epilogue of the seventh book, which takes place on 1 September 2017. The depiction of the wizarding world is centred on magic, which not only imbues objects such as wands, but is portrayed as an inborn ability. It is also centred on the separation of the wizarding world from the non-wizarding, or Muggle world. Despite being an inherent talent, magic is honed through study and training into a skill.