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.

From Latin 'fiat' meaning 'let it be done'.

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.

decree

An official order that has the force of law.

edict

A formal proclamation or order issued by an authority.

mandate

An official order to do something, typically issued by a government.

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.