Finance The coins, notes, cheques, etc., accepted within a country as a proper medium of exchange in the conduct of business.

Finance Weak currency whose convertibility is, or is expected to become, restricted.

Finance Strong, freely convertible currency.

Finance Foreign currency held by a central bank for the purposes of exchange intervention and the settlement of intergovernmental claims.

The Counterfeit Analysis Centre (CAC) and the counterfeit currency database (CCD) of the ESCB will be established by and run under the aegis of the ECB. The establishment of the CAC is intended to centralise the technical analysis of and data relating to the counterfeiting of euro banknotes issued by the ECB and the NCBs. All relevant technical and statistical data concerning the counterfeiting of euro banknotes shall be centrally stored in the CCD.

Finance Trading department in a Singapore bank licensed to deal in external currency deposits.

Finance Unit of account representing a weighted average of exchange rates of member countries within the EMS.

Finance Agreement to exchange one currency for another at a specified exchange rate and date. Banks normally act as intermediaries.

Finance Exchange between two counter parties of fixed rate interest in one currency for fixed rate interest in the other.

Finance Band within which a currency is allowed to fluctuate on both sides of its official parity.

Finance Bond denominated in a mixture of currencies.

Finance Method for determining the value of a financial asset or currency as a weighted average of market exchange rates.

Like a central bank, a currency board is a country’s monetary authority that issues notes and coins

Finance Individual who introduces the two parties in a currency or deposit transaction to each other.

Finance Measurement of the relationship between movements of two currencies.

Finance Issue denominated in one currency with a coupon and/or repayment of principal at a fixed rate in another currency.

Finance Money deposited in a financial centre outside of the country whose currency is involved.

Finance Market composed of banks serving those who wish to buy or sell various currencies.

Finance Money market for borrowing and lending currencies that are held in the form of deposits in banks outside the countries in which those currencies are issued as legal tender.

Finance risk that a firm will gain or lose as a result of changes in exchange rates

Finance Right to sell a particular currency at a specified price within a specified period of time.

Finance Market involving an exchange of bank deposits denominated in different currencies.

Finance Contracts specifying a standard volume of a particular currency to be exchanged on a specific settlement date.