foreign exchange

foreign exchange
noun Date: 1691 1. a process of settling accounts or debts between persons residing in different countries 2. foreign currency or current short-term credit instruments payable in such currency

New Collegiate Dictionary. 2001.

Look at other dictionaries:

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  • foreign exchange — FOREX; = FX The currencies of foreign countries, as bought and sold on a foreign exchange market. The foreign exchange spot market caters for transactions in which the two currencies are exchanged usually within two business days. The forward… …   Accounting dictionary

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