DEFINITION of 'Ven'

A virtual currency used by members of the social network Hub Culture for the purchase of goods and services. Ven's value is derived from a basket of currencies and financial instruments, and it trades according to a floating exchange rate on the internet and in retail stores.

BREAKING DOWN 'Ven'

Ven was launched in 2007. It can be traded peer-to-peer without the use of a currency exchange. A certain portion of its value is based on carbon credits and because it is not a physical currency, it is touted as being "green currency."

RELATED TERMS
  1. Peer-To-Peer (Virtual Currency)

    The exchange or sharing of information, data, or assets between ...
  2. International Currency Exchange ...

    The rate at which two currencies in the market can be exchanged. ...
  3. Currency Band

    A currency system that establishes a trading range that a currency's ...
  4. Currency

    Currency is a generally accepted form of money, including coins ...
  5. Currency Pairs

    Two currencies with exchange rates that are traded in the retail ...
  6. Currency Basket

    A selected group of currencies in which the weighted average ...
Related Articles
  1. Trading

    Understanding the Floating Exchange Rate

    Floating exchange rate is the exchange rate between two currencies at any given time.
  2. Trading

    How Are International Exchange Rates Set?

    International exchange rates show how much one unit of a currency can be exchanged for another currency.
  3. Trading

    Currency Exchange: Floating Rate Vs. Fixed Rate

    Baffled by exchange rates? Wonder why some currencies fluctuate while others are pegged? This article has the answers.
  4. Trading

    Drastic Currency Changes: What's The Cause?

    Currency fluctuations often defy logic. Learn the trends and factors that result in these movements.
  5. Trading

    Here's How You Calculate An Exchange Rate

    Struggling to get a grasp on exchange rates? Here's what you need to know.
  6. Trading

    The Effects Of Currency Fluctuations On The Economy

    Currency fluctuations are a natural outcome of the floating exchange rate system that is the norm for most major economies. The exchange rate of one currency versus the other is influenced by ...
  7. Trading

    What Happens in a Currency Crisis?

    A currency crisis comes from a decline in the value of a country’s currency.
  8. Investing

    Explaining Fixed Exchange Rates

    A government using a fixed exchange rate has linked the value of its currency to the value of another country’s currency, or the price of gold.
  9. Investing

    Why Countries Keep Reserve Currency

    Central banks and financial institutions hold large amounts of foreign money as their reserve currency.
RELATED FAQS
  1. How are international exchange rates set?

    International currency exchange rates display how much one unit of a currency can be exchanged for another currency. Currency ... Read Answer >>
  2. What is foreign exchange?

    Foreign exchange, or Forex, is the conversion of one country's currency into that of another. In a free economy, a country's ... Read Answer >>
  3. What are key economic factors that can cause currency depreciation in a country?

    Read about the causes of currency devaluation, and find out how to differentiate between relative and absolute currency devaluation. Read Answer >>
  4. How often do exchange rates fluctuate?

    Exchange rates float freely against one another, which means they are in constant fluctuation. Currency valuations are determined ... Read Answer >>
  5. What types of companies benefit from reporting results utilizing constant currencies ...

    Understand constant currency figures, and explore some of the reasons why a company is likely to benefit from reporting using ... Read Answer >>
  6. Why do forex traders use a currency converter?

    All currencies are quoted in pairs - one country's currency against another country's currency. A currency converter is used ... Read Answer >>
Trading Center