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hard currency

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hard currency

Currency commonly accepted across the world. Hard currencies are usually those of the industrialized nations. US dollars and pounds sterling are two of the most popular hard currencies. Retailers in countries with soft currencies, such as the old USSR, China, and many African states, often prefer to take hard currency, instead of their national currency, in exchange for goods and services.
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The money now regularly surpasses traditional foreign direct investment and long ago left tourism in the dust as a generator of hard currency.
Mexico: a new addiction by Brown, Greg / Latin Trade
The ability to boost military spending is a fnnction of being 'prosperous,'" continues Hawkins, "and the massive American trade deficit with China gives Beijing the hard currency needed to finance foreign weapon acquisitions--mostly Russian systems designed to attack American targets.
Bush administration favors a "strong" China! by The New American
Thus, he explained, the only way for Syrians to obtain hard currency is by exporting Syrian labor to Lebanon.
Prof. Deeb blames Hariri assassination on Syria by Bevan, Brock L. / Washington Report on Middle East Affairs
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