Word by Word Definitions
: not easily penetrated : not easily yielding to pressure
: not capable of being spread : very firm
: having a harsh or acid taste
: with great or utmost effort or energy : strenuously
: in a violent manner : fiercely
: to the full extent
Financial Definition of HARD CURRENCY
What It Is
How It Works
Hard currencies are generally issued by developed countries that have a strong industrial economy accompanied by a stable government. The most common hard currencies include the U.K. pound sterling (GBP), the euro (EUR) and U.S. dollar (USD).
Why It Matters
Hard currencies display high stability and typically experience only minor short-term fluctuations in the foreign exchange market. Hard currencies are frequently used to denominate commodities and serve as a benchmark for foreign exchange markets. As a result, instability in hard currencies can lead to a loss in confidence with worldwide effect on markets.
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