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Definition of Hard currency
A freely convertible currency that is not expected to depreciate in value in the foreseeable future.
Dollar deposits held in Singapore or other Asian centers.
A currency that is not freely convertible to other currencies due to exchange controls.
Taking advantage of divergences in exchange rates in different money markets by
The value of a portfolio of specific amounts of individual currencies, used as the basis for
A financial future contract for the delivery of a specified foreign currency.
An option to buy or sell a foreign currency.
Related: Exchange rate risk
An agreement by the parties to a transaction to share the currency risk associated with
Asset allocation in which the investor chooses among investments denominated in
An agreement to swap a series of specified payment obligations denominated in one currency
Eurobonds that pay coupon interest in one currency but pay the principal in a different
A short-term fixed rate time deposit denominated in a currency other than the local
The money market for borrowing and lending currencies that are held in the form of
European Currency Unit (ECU)
An index of foreign exchange consisting of about 10 European currencies,
Foreign currency option
An option that conveys the right to buy or sell a specified amount of foreign
Foreign currency translation
The process of restating foreign currency accounts of subsidiaries into the
Hard capital rationing
Capital rationing that under no circumstances can be violated.
Such a clause on a Euro loan permits the borrower to switch from one currency to
Give the borrower the possibility of drawing a loan in different currencies.
The currency in which the parent firm prepares its own financial statements; that is, U.S.
A foreign currency held by a central bank or monetary authority for the purposes of
A currency that is expected to drop in value relative to other currencies.
Virtual currency option
A new option contract introduced by the PHLX in 1994 that is settled in US$ rather
A currency, frequently the U.S. dollar, that is used by other countries to denominate the assets they hold as international reserves.
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