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Tokyo Stock Exchange (TSE), the main stock market of Japan, located in Tokyo, and one of the world’s largest marketplaces for securities. The exchange was first opened in 1878 to provide a market for the trading of government bonds that had been newly issued to former samurai. At first, government bonds, gold, and silver currencies formed the bulk of the exchange’s trade, but, with the growth and modernization of Japan’s economy, trading in stocks had come to predominate by the 1920s. The Tokyo Exchange, along with all other Japanese stock exchanges, was closed from 1945 to 1949, at which time it reopened after having been reorganized by the American occupation authorities. In the postwar decades the Tokyo Exchange became more important than its chief rival, the Ōsaka Stock Exchange, and by the late 20th century it accounted for more than 90 percent of all securities transactions in Japan. Paralleling the phenomenal growth of the Japanese economy, TSE had become the world’s largest securities exchange by the late 1980s, but its ranking fell in tandem with the regional economic decline of the 1990s. It became a publicly traded company, Tokyo Stock Exchange, Inc., in 2001.
This article was most recently revised and updated by Amy Tikkanen.
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In standard economic theory, money is held to have four functions: to serve as a medium of exchange universally accepted in return for goods and services; to act as a measure of value, making possible the operation of the price system and the calculation of cost, profit, and loss; to serve as a standard of deferred ...
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Sterling is the world's oldest currency that is still in use and that has been in continuous use since its inception. In 2022, it was the fourth most-traded currency in the foreign exchange market, after the United States dollar, the euro, and the Japanese yen.
Nineteen European nations use the euro as their official currency. It is the youngest currency. There are about 25 countries that tie their currencies to the euro, even though the euro is not pegged with any other currency.
Cash is the most liquid asset possible as it is already in the form of money. This includes physical cash, savings account balances, and checking account balances.
The U.S. abandoned the gold standard in 1971 to curb inflation and prevent foreign nations from overburdening the system by redeeming their dollars for gold.
Historians generally agree that the Lydians were the first to make coins. However, in recent years, Chinese archaeologists have uncovered evidence of a coin production mint located in China's Henan Province thought to date to 640 B.C. In 600 B.C., Lydia began minting coins widely used for trading.
Before the creation of money, exchange took place in the form of barter, where people traded to get the goods and services they wanted. Two people, each having something the other wanted, would agree to trade one another. In economics, we call this a double coincidence of wants.
History. Paper currency first developed in Tang dynasty China during the 7th century, where it was called "'flying money'", although true paper money did not appear until the 11th century, during the Song dynasty.
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