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Translate files Fiat
/ˈfiːæt/
Meaning & Definition
noun
An authoritative decree, sanction, or order.
The government's fiat mandated all businesses to close during the lockdown.
A formal grant or order from an authority.
The city council issued a fiat to restrict construction in certain areas.
In economics, a currency that is declared to be legal tender but is not backed by a physical commodity.
The value of fiat money can fluctuate based on the trust in the issuing government.
Etymology
From Latin 'fiat' meaning 'let it be done'.
Common Phrases and Expressions
fiat currency:
Money that is declared by a government to be legal tender, but has no intrinsic value.
fiat accompli:
An accomplished fact that is presumably irreversible.
fiat lux:
Let there be light; an expression often used metaphorically.
Related Words
Slang Meanings
An arbitrary decision or rule imposed without consideration.
That new policy was just a fiat from the top management.
Referring to something that is not backed by value, similar to a joke.
They laughed at the idea of making their virtual currency a fiat.