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Banknote

Banknote Definition

A banknote (more commonly known as a bill in the United States and Canada) is a kind of currency, issued as legal tender. With coins, banknotes make up the cash forms of all modern money. With the exception of non-circulating high-value or precious metal commemorative issues, coins are generally used for lower valued monetary units, while banknotes are utilised for higher values.
RELATED TERMS
Bill
Gold coins
Legal tender
Paper Money
RELATED CATEGORIES
Banking



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