A monetary system where the value of monetary units is set by the specified quantity of an item is commodity money.
Explanation:
A commodity currency could be a name given to certain currencies that co-move with the globe costs of primary trade goods product, because of these countries' significant reliance on the export of certain raw materials for financial gain. It comprises goods that have worth in themselves (intrinsic worth) additionally as a value in their use as cash. For instance, mediums of exchange for commodity money includes gold, silver, copper etc.
