Fiat money is a government-issued currency that's not backed by a physical commodity such as gold or silver. It's backed by the government that issues it. The value of fiat money is derived from the relationship between supply and demand and the stability of the issuing government rather than the worth of a commodity backing it.
Examples of fiat currencies are:
- Thai Baht (THB),
- United States Dollar (USD),
- Euro (EUR),
- United Kingdom’s pound sterling (GBP),
- Japanese Yen (JPY),
- Chinese Yuan (CNY).
You can read more about fiat money on Investopedia.