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What is a foreign currency?

Updated: 9/28/2023
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15y ago

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A currency from a country in which you don't reside. For instance, to an American, a peso would be considered foreign currency. To a Mexican, a penny would be considered foreign currency.

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15y ago
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Related questions

What factors create a foreign exchange gain on a foreign currency transaction?

An appreciation in a foreign currency creates a foreign exchange gain when the foreign currency is to be received. A decrease in the value of foreign currency creates a foreign exchange gain when the foreign currency is to be paid. (Hoyle, Schaefer, Doupnik, 2009, pp. 328)


What determines the foreign currency value against Indian currency?

The foreign currency against domestic currency is the buying and selling


What is the definition of foreign currency?

foreign currency just refers to the money used in other countries. For instance, in America, Chinese money is foreign currency.


What is the currency and foreign exchange code of Bolivia?

The currency in Bolivia is Boliviano and the foreign exchange code of the currency is BOB.


Can you still exchange foreign currency that is uncirculated?

we can exchange foreign currency of leats of banks


Can you still exchange a foreign currency that is uncirculated?

we can exchange foreign currency of leats of banks


When did trading begin in foreign currency futures?

In 1972 it launched a contract in foreign currency futures.


What does foreign currency means?

Foreign currency is basically currency or denomination of another country. The term is mostly used in context with foreign exchange also known as forex. There are a number foreign echange specialists like Travelex India etc that do currency conversion.


How do you change foreign currency to local currency?

BIU


How is foreign currency translation calculated?

Foreign currency translation is calculated by multiplying the foreign currency amount by the exchange rate. The exchange rate is the value of one currency in terms of another currency, and it can be obtained from financial markets or from central banks. The resulting product is the translated amount in the reporting currency.


Where can one find information on the foreign currency trade?

One popular site for foreign currency trading is Forex On Demand, which not only is a platform for foreign currency trading but also offers informational articles about foreign currency trades. Another popular site for foreign currency trading is the XE website, which includes a help section as well as a forum to learn more about it.


Is FOREX an online foreign exchange broker?

FOREX is an online foreign currency broker. They offer foreign currency trading online. It is like eTrade but instead of investing in stocks, you invest in currency.