Definitions for Foreign Currency
for·eign cur·ren·cy

WiktionaryRate this definition:5.0 / 1 vote

1. foreign currencynoun

   any currency that is in use in a foreign country, but not in one's own

WikipediaRate this definition:0.0 / 0 votes

1. foreign currency

   A currency is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins. A more general definition is that a currency is a system of money in common use within a specific environment over time, especially for people in a nation state. Under this definition, the British Pound Sterling (£), euros (€), Japanese yen (¥), and U.S. dollars (US$)) are examples of (government-issued) fiat currencies. Currencies may act as stores of value and be traded between nations in foreign exchange markets, which determine the relative values of the different currencies. Currencies in this sense are either chosen by users or decreed by governments, and each type has limited boundaries of acceptance; i.e., legal tender laws may require a particular unit of account for payments to government agencies. Other definitions of the term "currency" appear in the respective synonymous articles: banknote, coin, and money. This article uses the definition which focuses on the currency systems of countries. One can classify currencies into three monetary systems: fiat money, commodity money, and representative money, depending on what guarantees a currency's value (the economy at large vs. the government's physical metal reserves). Some currencies function as legal tender in certain jurisdictions, or for specific purposes, such as payment to a government (taxes), or government agencies (fees, fines). Others simply get traded for their economic value. Digital currency has arisen with the popularity of computers and the Internet. Whether government-backed digital notes and coins (such as the digital renminbi in China, for example) will be successfully developed and utilized remains dubious. Decentralized digital currencies, such as cryptocurrencies, are different because they are not issued by a government monetary authority; specifically, bitcoin, the first cryptocurrency and leader in terms of market capitalization, has a fixed supply and is therefore ostensibly deflationary. Many warnings issued by various countries note the opportunities that cryptocurrencies create for illegal activities such as scams, ransomware, money laundering and terrorism. In 2014, the United States IRS issued a statement explaining that virtual currency is treated as property for Federal income-tax purposes, and it provide examples of how long-standing tax principles applicable to transactions involving property apply to virtual currency.

How to pronounce Foreign Currency?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say Foreign Currency in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of Foreign Currency in Chaldean Numerology is: 4

2. Pythagorean Numerology

   The numerical value of Foreign Currency in Pythagorean Numerology is: 1

Examples of Foreign Currency in a Sentence

1. Maciej Pawlicki:

   The draft bill includes a complicated algorithm which shows how to calculate the fair (franc) rate, the rate (which results from the algorithm) means that neither zloty nor foreign currency borrowers are privileged against each others.

2. Maciej Pawlicki:

   The rate (which results from the algorithm) means that neither zloty nor foreign currency borrowers are privileged against each others.

3. Osama Mourad:

   The government is not realising the importance of capital markets, expectations were raised regarding the arrival of $6 billion in deposits (from oil-rich Gulf nations). However, the central bank has not announced what it plans to do with them and companies are suffering from the shortage of foreign currency.

4. Lee So-yeon:

   North Korean army units and security agencies are running many businesses to earn foreign currency from mining gold to catching fish on the west and east coasts.

5. Patrick Law:

   Last year was the first in over a decade or more, that there were more foreign currency deposits than foreign currency loans and that imbalance has grown in 2021.

References

1. ^ Wiktionary
   https://en.wiktionary.org/wiki/Foreign_Currency
2. ^ Wikipedia
   https://en.wikipedia.org/wiki/Foreign_Currency