Hard currency
Hard currency is a currency considered to be convertible because the nation that issues them allows them to be traded in the currency markets and is willing to redeem them at market rates.
Definitions
According to Financial Management Theory and Practice by Eugene F. Brigham and Michael C. Ehrhardt (13th edition),
- Hard currency. A currency considered to be convertible because the nation that issues them allows them to be traded in the currency markets and is willing to redeem them at market rates.
Related concepts
- Financial management. A combination of enterprise efforts undertaken in order to procure and utilize monetary resources of the enterprise.
