What are the three types of money based on the area of application and examples?
Three types of money are based on the application area: Domestic, Regional, and International Money. Explanations and examples are as follows.
- Domestic money only applies to the territory of a particular country. Examples of domestic money as the rupiah applies in Indonesia. The Peso applies in the Philippines. The Baht uses in Thailand.
- Regional money only applies to specific regions—for example, regional money, such as euros for European countries.
- International money applies in a country’s territory and in various countries worldwide—examples of international money such as US dollars, Japanese yen, and British pounds.
