The word "par" has several meanings, but in general contexts, it refers to an equality or standard level. It is commonly used in finance to indicate the face value of a security or an average or expected achievement in various activities, such as sports or golf, where scores are compared. In golf, "par" is the standard number of strokes that an expert golfer is expected to take to complete a hole or course.
The term "par" comes from the Latin word "par," which means "equal." It was adopted into English in the early 19th century, primarily in financial contexts, referring to the equality of value of a monetary unit.