foreign currency

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Foreign currency

Money of a country other than one's own.

Foreign Currency

A currency printed in a different country. Generally speaking, a foreign currency may not be used to buy goods and services in any country other than the one in which it is printed, unless the government of that country agrees to use it. For example, the Federated States of Micronesia uses the U.S. dollar, but if the Micronesian government had not agreed to this one would not be able to use dollars in Micronesia. However, exceptions to this rule exist, particularly when the domestic currency has a low value. For example, many merchants in Zimbabwe accept the U.S. dollar in addition to (or even instead of) the Zimbabwean dollar. See also: Foreign Exchange.

foreign currency

or

foreign exchange

the CURRENCY of an overseas country, which is purchased by a particular country in exchange for its own currency, which is then used to finance trade and capital transactions between the two countries. See INTERNATIONAL TRADE, FOREIGN EXCHANGE CONTROLS, FOREIGN EXCHANGE MARKET, FORWARD MARKET.

foreign currency

or

foreign exchange

the CURRENCY of an overseas country that is purchased by a particular country in exchange for its own currency. This foreign currency is then used to finance INTERNATIONAL TRADE and FOREIGN INVESTMENT between the two countries.

See FOREIGN EXCHANGE MARKET, FOREIGN EXCHANGE CONTROLS.

References in periodicals archive ?
a provider of solutions that enable eBusinesses to sell in foreign currencies easily and without currency risks, today announced that Tourico Holidays, a Web travel marketplace for tour operator and wholesalers worldwide, would incorporate E4X's "TREX" solution onto its Website.
Our solution is a straight-forward application that enables online companies to sell in foreign currencies and thus expand globally and increase their international sales, " said Yuval Tal, CEO of E4X, Inc.
Angell and Hoskins also were concerned that substantial increases in the authorized limits on holdings of foreign currencies by the Federal Reserve System for the U.
dollar as compared with the foreign currencies of the countries in which MicroTel has operations may have a positive effect on the financial contribution of those subsidiaries.
By integrating E4X REX, vendors simplify the complexities of managing foreign currencies by streamlining such processes as: maintaining conversion rates online, sales forecasting in multiple currencies, and banking procedures.
During March, the ESF "warehoused" $2,000 million equivalent of foreign currencies with the Federal Reserve, bringing the total of warehoused funds to $9,000 million equivalent.
Track Data Corporation (Nasdaq: TRAC) today announced that trading in foreign currencies is available through its retail and institutional trading platforms.
Chiefly as a result of intervention, the combined Federal Reserve and Treasury net position in foreign currencies increased to $38 billion equivalent at the end of 1989 valued at historical cost, as shown in chart 3.
Approximately 70% of debt is denominated in foreign currencies, with the remainder denominated in reais.
5 million equivalent of foreign currencies for dollars:
monetary authorities' forward dollar purchases against foreign currencies - which, as previously reported, were initiated in June and July to adjust the foreign currency reserves of the Federal Reserve and Exchange Stabilization Fund (ESF) - took place during the period.

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