What determines the value of fiat currency?

Money does not naturally have a value attached to it. It is after all, scraps of paper or coins. It is the government decrees concerning money that assign value to it. The governments issue legal tenders and assign value for all these notes and coins. All modern acceptable forms of payment are called fiat money. The buying power and value of this currency is determined by the local government's strength of economy. An economically strong and stable country's money automatically gains more value.

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