Fungible
(adjective)
Describing a thing that can be replaced by an equivalent, such as a unit of currency, a commodity, or a security.
Origin:
The term 'fungible' is derived from the latin word 'fungibilis' meaning 'that which may be used interchangeably'.
Examples:
- Gold is a fungible commodity, meaning that one ounce of gold is interchangeable with any other ounce of gold.
- The company's assets are mostly made up of fungible securities that can be easily traded.
- Fungible goods like wheat or corn are traded on commodities markets.
- Fungible currencies like the US dollar or the Euro are widely accepted and traded globally.
- Fungible resources, such as water or electricity, are subject to regulations to ensure fair distribution and pricing.