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

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

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.

Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005

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References in periodicals archive

The SOT team along with local police seized all the foreign currency and two mobile phones from the person.

Telangana: 1 arrested for illegal possession of foreign currency worth Rs 2.93 crore

It was a long pending demand of the foreign currency exchange companies to make the SPB representatives a part of the raid team, as the SBP better knows working of the exchange firms.

Govt weighing options to use local currencies in trade

However, when the psychological atmosphere calmed down, they came out, dropped their US dollars in the market, and this had a remarkable effect on the foreign currency rate," said Saeedi.

Iranian MP explains reasons for drop of foreign currency

Those who frequently use RCBC's online banking platform can open foreign currency accounts to also avail of the latest foreign exchange services.

RCBC rolls out improved online forex platform

The volume of credits in national currency increased by 47.8 billion soms, while credits in foreign currency decreased by 45.4 billion soms.

Credits in national currency prevail over credits in foreign currency since 2016: Central Bank

This makes the banking system sensitive to potential shifts in investor sentiment, as these foreign currency liabilities must be refinanced on an ongoing basis.

Moody's downgrades 20 Turkish financial institutions

In April 2016, the central bank had said it planned to introduce a ceiling on total foreign currency positions - surplus or deficit - of 30 per cent of each bank's capital and reserves.

QATAR ASKS BANKS TO OBEY NEW FX LIMITS

7, few tax practitioners would have suggested that over-the-counter (OTC) foreign currency options on "major" currencies should be accorded Sec.

Are OTC major foreign currency options now subject to sec. 1256?

Summary: Ee"Debt and Debt MarketsEe", a quarterly bulletin released by the Lebanese Ministry of Finance, shows that up until end-2015, the lionEe's share of foreign currency debt continued to be in the form of market issued Eurobonds.

LEBANON: FOREIGN DEBT