Rahaväärtused

Rahaväärtused refer to the nominal worth assigned to a unit of currency, as opposed to its intrinsic value or market value. This nominal value is determined by the issuing authority, typically a central bank or government, and is the figure that appears on the face of a banknote or coin. For example, a euro banknote is declared to have a value of 10 euros by the European Central Bank.

The concept of rahaväärtused is fundamental to monetary systems. It allows for standardized exchange and the establishment of prices for goods and services. Without a universally recognized nominal value, trade would be significantly more complex, relying on barter or the direct exchange of commodities with fluctuating intrinsic worth.

While rahaväärtused are fixed by decree, their actual purchasing power can change over time due to inflation or deflation. Inflation erodes the purchasing power of money, meaning that the same nominal amount of currency can buy fewer goods and services than before. Conversely, deflation increases purchasing power. The intrinsic value of a coin, which is the value of the metal it contains, can also differ from its rahaväärtus. Historically, coins were often made of precious metals, and their intrinsic value could be higher than their face value, leading to them being melted down or exported. Modern currency, especially banknotes and most coins, has an intrinsic value far below its rahaväärtus, making it fiat money.