Question

How did the introduction of a standard currency affect the Roman economy?

Answer 1

Due to the economic power and longevity of the Roman state, Roman currency was widely used throughout western Eurasia and northern Africa from classical times into the Middle Ages. It served as a model for the currencies of the Muslim caliphates and the European states during the Middle Ages and the Modern Era. Roman currency names survive today in many countries, such as the Arabic dinar (from the denarius coin), the British pound, and the peso (both translations of the Roman libra).

Answer 2

Roman currency for most of Roman history consisted of gold, silver, bronze, orichalcum and copper coinage[1] (see: Roman metallurgy). From its introduction to the Republic, during the third century BC, well into Imperial times, Roman currency saw many changes in form, denomination, and composition. A persistent feature was the inflationary debasement and replacement of coins over the centuries. Notable examples of this followed the reforms of Diocletian. This trend continued into Byzantine times.

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