When was money first used?

Money is a medium of exchange of a certain value, which one cannot consume or utilize directly. Thousands of years ago people exchanged useful items with one another. Later, objects used for exchange, which had a generally known value, were used as the mode of payment. When requirement of exchange increased, the first coins were made, later followed by paper money. Banks took over the money business. They lent money or printed bank notes during a strong inflation.