Multi-Currency Line of Credit

Multi-Currency Line of Credit

A line of credit on which a company may draw in one of several currencies. For example, the company may borrow from the same credit line in either U.S. dollars or euros, depending on its specific needs at the moment. A multi-currency line of credit may save a multinational corporation the time and expense incurred in foreign exchange transactions.
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References in periodicals archive ?
The Board of Directors of the African Development Bank Group (AfDB) has approved a private sector multi-currency line of credit of $100 million and ZAR 1.3 billion to Industrial Development Corporation Plc (IDC) of South Africa.
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