[经] 不能兑换的纸币

[ noun ]
money that the government declares to be legal tender although it cannot be converted into standard specie
<noun.possession>

Fiat \Fi"at\, n. [L., let it be done, 3d pers. sing., subj.
pres., fr. fieri, used as pass. of facere to make. Cf. {Be}.]
1. An authoritative command or order to do something; an
effectual decree.

His fiat laid the corner stone. --Willis.

2. (Eng. Law)
(a) A warrant of a judge for certain processes.
(b) An authority for certain proceedings given by the Lord
Chancellor's signature.

{Fiat money}, irredeemable paper currency, not resting on a
specie basis, but deriving its purchasing power from the
declaratory fiat of the government issuing it.