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Legal tender, especially paper currency, authorized by a government but not based on or convertible into gold or silver.
American Heritage® Dictionary of the English Language, Fifth Edition. Copyright © 2016 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.
(Banking & Finance) chiefly US money declared by a government to be legal tender though it is not convertible into standard specie
Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003, 2006, 2007, 2009, 2011, 2014
paper currency made legal tender by a fiat of the government, but not based on or convertible into coin.
Random House Kernerman Webster's College Dictionary, © 2010 K Dictionaries Ltd. Copyright 2005, 1997, 1991 by Random House, Inc. All rights reserved.
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|Noun||1.||fiat money - money that the government declares to be legal tender although it cannot be converted into standard specie|
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