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English definition of “hard currency”

hard currency

noun [C]     MONEY, FINANCE
a currency that can easily be exchanged for others and that is accepted for international payments, because it is unlikely to go down in value: The country became too dependent on earning hard currency through sales of oil, and suffered if there was a drop in energy prices. Money from the fishing contracts are a vital source of hard currency. hard currency earnings/reserves/revenues
→ See also currency → Compare soft currency
(Definition of hard currency noun from the Cambridge Business English Dictionary © Cambridge University Press)
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