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 share of the public business sector in the total non-governmental deposits in foreign currencies amounted to about EGP 39.8bn, the private business sector to about EGP 189.8bn, and the household sector about EGP 488.1bn.
Authorised dealers may also purchase foreign currencies withdrawn by the account holders from their foreign currency accounts and from the walk-in-customers against payment in PKR subject to fulfilment of applicable AML/CFT regulations,' said the SBP.
Lately, some entities within the hospitality industry, as well as individual businesses, have been charging and receiving payments in foreign currencies.
Apparently, Bhatija allegedly used to send illegal cash to other cities with the help of one of his employees named Kamal Bhandari who used to carry the illegally collected foreign currencies in person and transport them to various places by public transport.
RCBC clients who want to grow their money over time can also place their foreign currencies in a 90-day time deposit account.
The central bank in letters addressed and sent to the Federal Board of Revenue (FBR), Federal Investigation Agency (FIA) and other border agencies asked them to take required action in the spirit of the law to lookout on inland movement of cash foreign currencies in immensity by uncertified individuals or entities, reported The News.
Furthermore, many regard the language in the statute as intended to apply to forward contracts that require actual delivery of foreign currencies. Notably, the clause "or the settlement of which depends on the value of" was added by Congress in 1984 merely to allow cash-settled forward contracts to still qualify as foreign currency contracts under Sec.
Kyiv: The National Bank of Ukraine has updated the Classifier of Foreign Currencies and Banking Metals, which was last amended in 2015.
Pricing in foreign currencies, he said, reduces the price incentive of depreciation in encouraging businesses to engage in the export or production of goods that are currently imported, adding that such actions work against the necessary adjustments.
Damascus, SANA- Governor of the Central Bank of Syria (CBS) Adeeb Mayaleh announced that the bank will hold daily intervention sessions through the exchange companies to sell foreign currencies to citizens for personal and commercial reasons according to the price set by the bank.
The National Bank sets official exchange rates for 4 foreign currencies every day and 38 foreign currencies every week.
However, CHF-denominated loans are not the underlying source of the high systemic risk: Loans denominated in other foreign currencies (probably to a large extent in euros) contribute significantly more to the systemic risk in the non-euro area than CHF-denominated loans.

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