Hard currency

 

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Hard currency

A currency which is generally accepted throughout the world and which is unlikely to devalue. Examples are the deutschmark, dollar and Swiss franc.

Hard currency

A freely convertible currency that is not expected to depreciate in value in the foreseeable future.



Hard currency

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Currency hedge

Applies mainly to international equities. Hedging technique to guard against foreign exchange fluctuations (i.e., short Euro l00 mm when holding a long position of Euro l00 mm in stocks).


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A currency defined as a specified combination of two or more currencies, normally existing only as a unit of account rather than as a physical currency. Examples include the SDR and the ECU.


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Asset allocation in which the investor chooses among investments denominated in different currencies.


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Exposure to foreign exchange risk> after netting all intracompany cash flows.


Multicurrency clause

Multicurrency clause

Such a clause on a Euro loan permits the borrower to switch from one currency to another currency on a rollover date.


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