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REFERENCE

fiat

n. · v.
US //ˈfaɪæt// UK //fˈiːət// fi·at
  1. 1 an official decree (n.)
    C2 Proficiency Formal Law

    an official order or command given by a person or group with power.

    an arbitrary or authoritative command or decree issued by a person or body in power.

    Example

    The new rules were established by government fiat rather than by a vote.

    Example

    The monarch ruled by fiat, bypassing the traditional consultative councils to implement sweeping changes to the tax code.

    Usage

    Often used in the phrase 'by fiat' to describe how a decision was made.
  2. 2 fiat currency (n.)
    C2 Proficiency Technical Academic

    money that has value because the government says it is legal tender, not because it is backed by gold.

    currency that is not backed by a physical commodity, such as gold or silver, but is established as legal tender by government regulation.

    Example

    Most modern countries use a fiat system for their national currency.

    Example

    The transition from the gold standard to a fiat system allowed central banks greater flexibility in managing national monetary policy.

    Usage

    Frequently used as an attributive noun in the phrase 'fiat money' or 'fiat currency'.
    • paper money
    • commodity money
  3. 3 to issue a command (v.)
    C2 Proficiency Formal Literary

    to give an official order or to make something happen by using your power.

    to issue an authoritative decree or to bring something into being through an act of will or command.

    Example

    The leader attempted to fiat a new era of prosperity through strict laws.

    Example

    The council sought to fiat the reorganization of the district, though they lacked the legislative standing to enforce such a change.
Origin

From Latin fīat (“let it be done”).

Etymology adapted from Wiktionary, available under CC BY-SA 4.0.

Related words

Last updated June 20, 2026