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 ?
The main difference between account FX and FX trading is that in account FX business, RMB is used for transactions and no buying/selling between foreign currencies is allowed, while the FX trading business allows buying/selling between different foreign currencies.
To hold balances of, and to have outstanding forward contracts to receive or to deliver, the foreign currencies listed in paragraph A above.
Spurred by the affordability of the dollar relative to foreign currencies and the growing number of foreign competitors in the domestic marketplace, thousands of U.
These valuation gains represent the increase in the dollar value of outstanding currency assets valued at end-of-period exchange rates, compared with rates prevailing at the time the foreign currencies were acquired.
5 million equivalent of foreign currencies for dollars:
Track Data Corporation (Nasdaq: TRAC) today announced that trading in foreign currencies is available through its retail and institutional trading platforms.
Although the Articles went into force in December 1945, the system of fixed exchange rates envisaged at Bretton Woods became fully operational only at the end of 1958, when most major foreign currencies became convertible for the private sector into dollars for current account transactions.
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.
At the March 27 meeting, the FOMC voted to approve an increase in the authorized limit on Federal Reserve holdings of foreign currencies from $21 billion to $25 billion.
3 billion, or 61% of total debt, was denominated in foreign currencies.
Over the past year, very large purchases of foreign currencies had raised System Account holdings to historically high levels, although relative to U.

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