1. Study the following expressions:

Money - is a medium of exchange that functions as unit of account and store of value.

Currency

1. Any kind of money that is in circulation in an economy.

2. Anything that functions as medium of exchange, including coins, banknotes, cheques, bills of exchange, etc.

3. The money in use in a particular country.

Hard currency - is a currency that is commonly accepted throughout the world; they are usually those of the western industrialized countries.

2. Translate into English:

Засіб обміну, вимірювати, платіж, готівка, монети, обмін валют, тверда валюта, національна економіка, мати цінність, сплачувати рахунки, чеки, кредитні картки, законний платіжний засіб, інструмент кредитування.

TEXT: ENGLISH BANKNOTES AND COINS

to issue випускати

issue випуск

to mint чеканити

denomination номінал

circulation кругообіг

figure цифра

in figures цифрами

to authorize уповноважувати

The official currency of the United Kingdom is the pound sterling which is equal to one hundred pence.

English banknotes are issued by the Bank of England. As to they are minted also by this state bank.

There are banknotes of the following denominations*: Ј 5, Ј10, Ј20, Ј 50 and Ј 100.

The following coins are in circulation: one penny, two pence, five pence, ten pence, fifty pence and also one and two pounds.

On the face of English banknotes one can read the denomination given both in figures and in words.

Then the inscription on the face of the banknote reads: I promise to pay the bearer on demand the sum of... And then there are two signatures.1 The first signature is that of the person authorized by the Government and the Bank of England.

The second signature is that of the Chief Cashier.

The back of English banknotes, like many other banknotes, feature portraits of different famous people.

1. Answer the questions:

What is the official currency of the United Kingdom?

What is the pound sterling equal to?

What coins are there in circulation?

What can we see on the face of English banknotes?

What are there on the back of English banknotes?

TEXT: AMERICAN MONEY

to subdivide підрозділяти (ся)

legal tender законні платіжні засоби

debt борг

treasurer казначей

slave раб

statesman державний діяч

The American dollar is subdivided into one hundred cents. The dollars are issued by the Federal Reserve System, established by Congress in 1913. Here is the text on the face of an American dollar banknote:

Federal Reserve Note

The United States of America

this note is legal tender for all debts, public and private

Washington, D.C.

Treasurer of the United States

Secretary of the Treasury dollars

On the face of American dollars one can also see the portraits of the following famous persons:

George Washington (1732 - 1799), the first President of the United States of America, who gave his name to the capital of the country.

George Washington became the first President after the successful war of 13 British colonies for independence. After they won the war they formed 13 states and united to make the United States of America. Thus Independence was proclaimed on July 4, 1776.

Abraham Lincoln (1809 - 1865) who was the President from 1861 to 1865 after the war between the northern and southern states.

It was he who proclaimed freedom of slaves of the south.

Alexander Hamilton (1755 - 1804), a famous American statesman, who fought in the Independence War together with general George Washington. Later he became the first Secretary of the Treasury.

Andrew Jackson (1767 - 1845) who was the President of the U.S.A. from 1829 to 1837, when Texas won independence from Mexico.

Ulysses Grant (1822 - 1885) who was the President of the U.S.A. from 1869 to 1877.

Benjamin Franklin (1706-1790)a very popular public figure, writer, diplomat and scientist. It was he who invented bifocal spectacles among many other things.

On the back of banknotes various famous buildings are featured, such as:

• Lincoln Monument, one of the monuments in Washington

• U.S. Treasury Building, in Washington

• White House, house of every President, except George Washington, who only planned the capital of the U.S.A.

• U.S. Capitol, which houses the Senate and the House of Representatives

• Independence Hall, in Philadelphia, where Independence of the 13 British colonies was proclaimed.

• All the banknotes bear the words: in God We Trust.

TEXT: HRYVNIA-THE OFFICIAL CURRENCY OF UKRAINE

replace заміняти

bill банкнота

authorized bank уповноважений банк

legal tender законний платіжний засіб

to ensure забезпечувати

forgery підробка

Hryvnia was introduced on September 2, 1996 right after the celebration of Ukraine Independence Day. It replaced the old "Coupon" (or "Karbovanets") which was a temporary bill in Ukraine for the period it was leaving the rouble zone.

The name of "hryvnia" is very old - at least seven centuries old. In the 17th century Hetman Bohdan Khmelnytsky tried to introduce new hryvnia currency but not with much success. Hetman Mazepa, in the 18th century made another attempt that also failed. Two centuries have passed since then and now we have hryvnas in circulation. Now it is the only legal tender in Ukraine and since August 1995 all business transactions are required to be in hryvnia. Hryvnia can be freely converted to hard currency in any authorized bank or exchange point.

There are several protection layers in Hryvnia bills to ensure their safety. Ukrainian hryvnia bills of all denominations are made of special white paper with watermarks in all parts of each bill. On the face side of bills of all denominations one can see portraits of prominent figures of history and culture of Ukraine. In the centre of the backside one can see historical and architectural monuments of Ukraine. Protection from forgery is achieved through the design. Watermarks, seen if one looks at the bill putting it against the light. Nowadays national currencies are considered to be as strong as the national economies, which support them. For example, today our Ukrainian currency "hryvnia" has value only because the Ukrainian government stands behind it.