International Reply Coupon - IRC

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DEFINITION of 'International Reply Coupon - IRC'

A coupon that can be exchanged for the adequate minimum postage required for unregistered priority airmail weighing up to 20 grams. Mail items utilizing IRCs must be sent only to another Universal Postal Union (UPU) member country. Although UPU member postal services are not required to sell IRCs, they are obligated to exchange them for postage. It is basically a coupon that can be exchanged for postage stamps.

BREAKING DOWN 'International Reply Coupon - IRC'

The IRC was introduced by the UPU during its 1906 Congress held in Rome. It was created to facilitate mailings sent between foreign countries that required the receiver to reply, but the sender was unsure as to how much postage would be required for the reply letter.

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RELATED FAQS
  1. What is the correlation between a coupon rate and the convexity of a given bond?

    Generally speaking, convexity decreases as yields increase (geometrically, the yield curve tends to flatten at higher yields). ... Read Full Answer >>
  2. How do interest rates affect a bond's coupon rate?

    A bond's coupon rate is directly affected by national interest rates, and consequently, so is its market price. Newly issued ... Read Full Answer >>
  3. How can I calculate a bond's coupon rate in Excel?

    A bond's coupon rate is simply the rate of interest it pays each year, expressed as a percentage of the bond's par value. ... Read Full Answer >>
  4. What are the different types of college savings accounts?

    The resulting Macaulay duration of a zero-coupon bond is equal to the time to maturity of the bond. A zero-coupon bond is ... Read Full Answer >>
  5. What is the formula for calculating the capital to risk weight assets ratio for a ...

    Use the Macaulay duration to calculate the duration of a zero-coupon bond. The resulting Macaulay duration of a zero-coupon ... Read Full Answer >>
  6. Can the marginal propensity to consume ever be negative?

    A bond's coupon rate is equal to its yield to maturity if its purchase price is equal to its par value. The par value of ... Read Full Answer >>

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