One of the mysteries of the English language finally explained.
Currency that is not likely to depreciate suddenly or to fluctuate greatly in value.
- ‘The Central Bank is fast running out of hard currency reserves to sustain the peso-to-dollar convertibility.’
- ‘Marshall Tito recognised this and allowed all Yugoslavs to hold two bank accounts: one in dinars for pocket money and one in hard currency for real savings.’
- ‘In hard currency in the past decade, our business in emerging markets has grown from €11 billion to €18 billion.’
- ‘Shortages of gasoline, food, hard currency and even local bank notes spurred speculation that gave finance houses a boom.’
- ‘Over the weekend, legislators passed a law blocking access for three years to hard currency held in high-interest accounts with the country's two state banks.’
- ‘ANZ lent the money to North Korea's Foreign Trade Bank, but the loan defaulted due to North Korea's shortage of hard currency.’
- ‘The ministry said North Korea's lack of hard currency, energy and raw materials will make it difficult for inter-Korean trade to rise sharply this year.’
- ‘The government also announced that Cuban state companies would have to sell the central bank any hard currency received from exports or domestic sales.’
- ‘Early redemption of hard currency loans is banned.’
- ‘The other risks of a domestically funded budget include a shortage of hard currency, devaluation of the Kwacha and a difficulty in importing goods.’
- ‘The store's clientele consists of foreigners and a few select party members: Payment is in hard currency only.’
- ‘This drains hard currency reserves needed to buy imports, takes away funds for investment, and beggars education and health programs.’
- ‘Required reserves on corporate ruble deposits were raised in order to make banks keep more rubles and, hence, less hard currency.’
- ‘That it has taken so long to remove the production of coca can be understood when set against its economic importance, both as a source of hard currency and employment.’
- ‘Their purpose is simple: to create a free trade environment conducive to the production of export goods in order to earn hard currency.’
- ‘Premiums are paid in hard currency thus ensuring that claims for loss or damage due to uninsured peril are also settled in hard currency.’
- ‘The banks that prospered had licences to work in hard currency.’
- ‘The Iraqi official said the money taken amounted to a quarter of the Central Bank's hard currency reserves.’
- ‘It was also implied that this endogenous expansion of credit could also be greater than the initial increase in the stock of hard currency.’
- ‘In reality, fears of causing domestic currency instability meant that many governments continued to maintain close control of their hard currency supplies.’
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