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Definition of 'Hard Currency'
A currency, usually from a highly industrialized country, that is widely accepted around the world as a form of payment for goods and services. A hard currency is expected to remain relatively stable through a short period of time, and to be highly liquid in the forex market.
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Investopedia explains 'Hard Currency'
Another criterion for a hard currency is that the currency must come from a politically and economically stable country. The U.S. dollar and the British pound are good examples of hard currencies.
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It's a part of everyone's life, and we all want it, but do you know how it gains value and how it is created?
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Money has been a part of human history for at least 3,000 years. Learn how it evolved.
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Find out how fledgling economies can find some stability in their currency and attract foreign investment.
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