What is hard currency?

  • (noun): Money in the form of bills or coins.
    Synonyms: cash, hard cash

Hard Currency

Hard currency (also known as a safe-haven currency or strong currency), in economics, refers to a globally traded currency that is expected to serve as a reliable and stable store of value. Factors contributing to a currency's hard status might include the long-term stability of its purchasing power, the associated country's political and fiscal condition and outlook, and the policy posture of the issuing central bank.

Read more about Hard Currency.

Some articles on hard currency:

Hard Currency - Mixed Currencies
... Because hard currencies may be subject to legal restrictions, the desire for transactions in hard currency may lead to a black market ... In some cases, a central bank may attempt to increase confidence in the local currency by pegging it against a hard currency, as is this case with the Hong Kong dollar or the Bosnia and Herzegovina convertible ... conditions force the government to break the currency peg (and either appreciate or depreciate sharply) as occurred in the Argentine economic crisis (1999–2002) ...
Torgsin
... Torgsin (Russian Торгсин) were state-run hard-currency stores that operated in the USSR between 1931 and 1936 ... stores, Torgsin stores were open to Soviet citizens, provided they had access to hard currency, gold or jewels ... Other countries later employed similar hard-currency stores, including Intershops in the German Democratic Republic and Friendship Stores in the People's Republic of China ...
Foreign Trade Of The Soviet Union
... of Cuba, Mongolia, and Vietnam, and substantial borrowing from the West to supplement hard-currency export earnings ... Third World countries was conducted with hard currency, that is, currency that was freely convertible ... convertible, the Soviet Union could only acquire hard currency by selling Soviet goods or gold on the world market for hard currency ...
Staatsbank - Forum Checks, Intershops and Genex
... with the internal foreign exchange rate regime, the State Bank allowed hard currency to be exchanged for Forum checks – a form of internal currency that (crucially) could be spent at an Intershop ... free price levels) – they were accessible only to foreign tourists with hard currency and East German citizens with Forum checks ... a foreign exchange account to order from the hard currency mail order GENEX catalog (GENEX gift service GmbH) ...
Foreign Trade Of The Soviet Union - Trade With Third World Countries - Balance of Trade
... Thus, the Soviet Union's hard-currency balance of trade, including arms sales, with the Third World was positive from 1980 through 1986 ... In fact, the Soviet Union's positive hard-currency trade balance with the Third World exceeded its hard-currency deficit with the Western industrialized ... By the early 1980s, hard-currency payments had become the preferred means of settlement ...

Famous quotes containing the words currency and/or hard:

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    Pierre Corneille (1606–1684)