key currency

USAGE SUMMARY

The phrase "key currency" is correct and usable in written English.
It can be used to refer to a currency that is widely accepted and used in international trade and finance, often serving as a benchmark for other currencies. Example: "The US dollar is considered a key currency in global markets, influencing exchange rates and trade agreements."

✓ Grammatically correct

News & Media

Encyclopedias

Science

Human-verified examples from authoritative sources

Exact Expressions

19 human-written examples

For many countries, it is a "key" currency.

The Economist

Nor is there a currency ready to replace the dollar as the world's key currency.

The New York Times

This would be a much more modest step than replacing dollars with SDRs as the global key currency.

The Economist

The dollar remains the world's key currency, but it cannot be a good sign that even some Zimbabweans are now considering alternatives.

The Economist

Based on these two forces alone, China's currency should surpass the dollar as a key currency some time around 2035, Mr Subramanian guesses.

The Economist

But the regulations nonetheless create the possibility that the government will, eventually, force the carmakers to do something they don't want to do, which is give their data, a key currency of the information age, to their competitors.

The New Yorker

Human-verified similar examples from authoritative sources

Similar Expressions

41 human-written examples

The dollar falls further against key currencies.

The Guardian - Business

Traditionally, there had been two major methods of international reserve creation: the mining of gold and the acquisition of reserves in the form of key currencies (mainly dollars).

Encyclopedia Britannica

A writ filed at the High Court in London and seen by The Independent says: "Barclays was knowingly participating with other banks in making false Libor submissions in all key currencies, including sterling.

Independent

Designed to keep you one step ahead, MyHiFX enables you to set personalised rate alerts, access live customer rates, monitor your key currencies and make international payments – all in a few clicks.

Independent

In the current organisation, "key currencies" work as international money.

Structural Change and Economic Dynamics

Expert writing Tips

Best practice

When discussing international finance or economics, use "key currency" to accurately convey the importance and widespread use of a particular currency in global trade and financial systems.

Common error

While "key currency" is technically correct, avoid using it in casual conversations or contexts where simpler terms like "important money" would suffice. The phrase carries a certain level of formality and is best suited for professional, academic, or news-related discussions.

Linguistic Context

The phrase "key currency" functions as a noun phrase where the adjective "key" modifies the noun "currency". It describes a specific type of currency that holds significant importance in international finance. Ludwig AI indicates that the phrase is correct and commonly used.

Expression frequency: Common

Frequent in

News & Media

52%

Encyclopedias

19%

Science

13%

Less common in

Wiki

6%

Formal & Business

6%

Science & Research

4%

Ludwig's WRAP-UP

In summary, "key currency" is a grammatically sound and commonly used phrase that refers to a currency of significant importance in international trade and finance. Ludwig AI confirms the phrase's correctness and usability. The phrase is most frequently found in news, encyclopedias, and scientific contexts, indicating a formal to neutral register. Alternatives such as "major currency" or "dominant currency" can be used depending on the specific nuance you wish to convey. When writing, it's important to use "key currency" in contexts where its formal tone is appropriate, avoiding overuse in casual settings.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

major currency

Replaces "key" with "major", emphasizing the currency's significant importance.

dominant currency

Emphasizes the currency's leading position and influence.

leading currency

Similar to dominant, highlighting the currency's role as a leader.

principal currency

Indicates the currency is the most important or primary one.

chief currency

Highlights the currency's top or most important position.

primary currency

Focuses on the currency's fundamental and initial role.

essential currency

Indicates the currency is necessary or vital for international transactions.

significant currency

Emphasizes the currency's notable importance in financial systems.

important currency

A general term indicating the currency holds value.

reserve currency

Indicates a currency held in significant quantities by governments.

FAQs

What does "key currency" mean in economics?

In economics, a "key currency" refers to a currency that is widely accepted and used in international transactions, serving as a benchmark for other currencies and often held as a reserve by central banks.

What are some examples of "key currencies"?

Examples of "key currencies" include the United States dollar, the euro, the Japanese yen, and the British pound sterling, all of which are extensively used in global trade and finance.

How does a currency become a "key currency"?

A currency becomes a "key currency" through a combination of factors, including the economic strength of the issuing country, its stability, the depth and liquidity of its financial markets, and its widespread acceptance in international trade and investment.

What are some alternatives to using the phrase "key currency"?

Depending on the context, you can use alternatives such as "major currency", "dominant currency", or "leading currency" to convey a similar meaning. Each alternative slightly shifts the emphasis, so consider the specific nuance you want to convey.