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 SOT team along with local police seized all the foreign currency and two mobile phones from the person.
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.
"Foreign currency securities" include maturities of foreign currency debt, cross-currency swap payments and an estimate of interest payments on foreign currency liabilities.
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.
Those who frequently use RCBC's online banking platform can open foreign currency accounts to also avail of the latest foreign exchange services.
The volume of credits in national currency increased by 47.8 billion soms, while credits in foreign currency decreased by 45.4 billion soms.
This makes the banking system sensitive to potential shifts in investor sentiment, as these foreign currency liabilities must be refinanced on an ongoing basis.
"To this end, the export authorisation of foreign currency issued by the authorised intermediaries in compliance with the provisions of the circular 2016-10 referred to above, to allow non-resident travelers to physically export foreign currency in application provisions of this circular, cannot apply to an amount exceeding that set by this article," said the BCT in the circular posted on November 30, 2017 on its website.
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.
7, few tax practitioners would have suggested that over-the-counter (OTC) foreign currency options on "major" currencies should be accorded Sec.
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.
Therefore, macroeconomic conditions do not warrant pricing in foreign currency for domestic transactions," he said.

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