hard currency

noun

Pronunciation: /hɑːrd ˈkɜːrənsi/

Definition

Internationally traded currency that is expected to remain stable in value and is widely accepted as a reliable store of wealth.

Examples

• Many developing nations struggle to maintain sufficient reserves of hard currency to pay for essential imports.

• The central bank had to devalue the local tender because it lacked the hard currency necessary to back its exchange rate.

• International investors prefer to hold assets denominated in hard currency to mitigate the risk of sudden market volatility.

Synonyms of hard currency

Words with a similar meaning to hard currency:

• stable currency
• reserve currency
• strong currency

Antonyms of hard currency

Words with the opposite meaning to hard currency:

• soft currency

Browse the full Anaversity dictionary