hard currency
money that can be exchanged for gold
Hard currency
Hard currency, in
economics, refers to a
currency in which
investors have confidence, such as that of a politically stable country with low
inflation and consistent monetary and fiscal policies, and one that if anything is tending to appreciate against other currencies on a trade-weighted basis. The term can also be used to refer to a currency backed by a
precious metal such as
gold or
silver, where the supply of that precious metal is not easily able to be increased.
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hard currency
Noun
1. money in the form of bills or coins
(synonym) cash, hard cash
(hypernym) currency
(hyponym) change
Hard currency
A freely convertible
currency that is not expected to depreciate in value in the foreseeable future.
Hard Currency
The term "hard currency" is a carry-over from the days when sound currency was freely convertible into "hard" metal, i.e., gold. It is used today to describe a currency which is sufficiently sound so that it is generally accepted internationally at face value.
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