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 ?
This memorandum stated that foreign currency is a capital asset and a debt repayment is a sale or exchange of the foreign currency.
10) Finally, as part of the November 1, 1978, dollar-defense program, a $30 billion package of foreign currency resources to finance U.
Foreign currency bonds due 2013 to 'B-/RR4' from 'CCC+/RR4'
In addition to these changes, Companhia de Bebidas das Americas' (AmBev) foreign currency Rating Outlook has been revised to Positive from Stable.
The remaining 13 rated issuers have either no debt denominated in foreign currency maturing in the 18-month period between 1 January 2014 and 30 June 2015 or no debt denominated in foreign currency at all in their total outstanding debt.
At the same time, their A3 foreign currency issuer, senior unsecured debt ratings and (P)A3 program ratings are positioned at the same level as Malaysia's sovereign rating.
Currently, the starting trading amount of each currency is 10 units of each foreign currency, and the minimum increment is 1 unit of each foreign currency.
1256 special timing rule, a taxpayer must determine taxable income or expense in respect of any foreign currency contract annually on a mark-to-market basis (i.
Moreover, although the 2006 proposed regulations still require a taxpayer to recognize section 987 foreign currency gain or loss only as remittances are made, unrecognized foreign currency gain or loss is recognized only in the same proportion as the remittance bears to all of the assets of the Section 987 QBU.
While the JCB card can be used to purchase goods and services abroad, a lot of travelers still need to obtain some cash in the foreign currency for tips and other small amounts before they leave Japan", he added.
Less than 20 percent of the money was actually invested in foreign currency, Kramer said.
Long-term foreign currency issuer credit rtg B+ Short-term foreign currency issuer credit rtg C Long-term local currency issuer credit rtg BBB- Short-term local currency issuer credit rtg A-3 CDs (foreign currency) B+/C CDs (local currency) BBB-/A-3 Commercial paper (foreign currency) C Senior unsecured debt (foreign currency) B+ Subordinated debt (foreign currency) B

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