hard currency

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Hard currency

A freely convertible currency that is not expected to depreciate in value in the foreseeable future.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Hard Currency

A currency that is issued by a politically and economically stable country and is therefore well-respected in FX trade. Large, international transactions are often settled in one hard currency or other. The market to buy and sell hard currencies is especially liquid, even by the standards of foreign exchange trading. The price of a hard currency often remains stable in the short-term. Examples of hard currencies include the U.S. dollar, the British pound, the euro, and the Japanese yen.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

hard currency

a FOREIGN CURRENCY that is in strong demand, but in short supply on the FOREIGN EXCHANGE MARKET. This usually arises when a country is in persistent balance of payments surplus. Compare SOFT CURRENCY.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson

hard currency

a FOREIGN CURRENCY that is in strong demand but in short supply on the FOREIGN EXCHANGE MARKET.

Hard-currency status is usually associated with an economically strong country that is running a large surplus on its balance of payments; demand for the currency is high to finance purchases of its exports, but the supply of the currency is relatively limited because the amount of it being made available through the purchase of imports is much lower. Under a FLOATING EXCHANGE-RATE SYSTEM, however, the demand for, and supply of, the currency should be, in theory, brought into balance by an APPRECIATION of its EXCHANGE-RATE value. Compare SOFT CURRENCY.

Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in periodicals archive ?
Insurance to compensate for business interruptions, particularly when those stoppages affect the hard currencies of the venture, is not readily available in China on a cost-effective basis.
That being said, the launch of this market was a step in the right direction and signals the possibility of the CBI recognizing the free market rate of hard currencies in the near future, which would result in allowing banks and exchange houses to restart their trade of currencies at the market rate.
He pointed out that banks were directed to fund real estates for expatriates to attract more hard currencies and stabilize the exchange rate.
He cited, as an example, the South Sudanese government which largely depends on oil exports as its only source of hard currencies.
Khartoum, Feb.1(SUNA)-President of the Republic, Field Marshal Omer Al-Bashir was informed on plan pf the Central Bank of Sudan(CBOS) to provide hard currencies for import of basic commodities .
The source said that the arrests that took place during the last two days were carried out by the National Intelligence and Security Forces (NISS) whose agents also confiscated all the hard currencies found in the possession of the detainees.
Over the past decade, Iran's Central Bank, which channels more than 90 per cent of hard currency into the local market, has employed a managed float system to support a single rate against hard currencies, notably the US Dollar.
Khartoum, 20 Nov (SUNA) - The Government on Monday warned that legal measures and direct charges of sabotage of national economy, terrorism funding, and money laundry would be taken against those involved in hard currencies black market, no matter what their positions.
He said measures would be taken later to besiege brokerage in hard currencies saying that central bank would take a number of measures to organize the export and import operation in accordance with new management and new bases for the exchange rate, all on time.
The Minister further added that policies of organizing the market of hard currency and rationalization of demand for hard currencies will go on , expecting that effect of restoration of equilibrium to the balance of trade will appear during the first quarter of the 2016 fiscal year.