Foreign Exchange

Definition

  • Instruments (such as paper currency, notes, and cheques) used to make payments between individuals, organizations, or countries that use different currencies.

Notes
Bank account transaction code.

Synonyms
exchange of currency, foreign credit instruments

Acronyms
FX, F/X, FOREX, FE

Related Terms and Acronyms

  • Authorized Foreign Exchange Bank (AFEB)Acronym,
    • Cheque (CK) Acronym,
      • A written order for payment of a certain amount of money.
      Bank account transaction code.
    • Derivatives Definition,
      • Financial contracts whose value is derived from the value of some underlying asset, rate or index. Derivatives are used as risk-management tools by governments and corporations to reduce exposure to risk, mainly related to fluctuations in foreign-exchange and interest rates. Derivative instruments include swaps, options, futures and forward contracts and are used by banks in two principal activities: sales/trading and asset/liability management.
    • Foreign Currency (FCY) Acronym,
      • Paper money and coins from other countries.
    • Foreign Currency Surcharge Definition,
      • A fee charged by a credit card company for purchases made in a foreign currency.
    • Foreign Exchange Rate (FXRate) Abbreviation,
      • The value of a nation's currency in terms of another nation's currency
    • Foreign Exchange Station (FXS)Acronym,
      • Foreign Exchange Subscriber (FXS)Acronym,
        • Foreign Investment Definition,
          • Investing money into a business in another country.
        • International Banking Definition,
          • The operation of bank branches and subsidiaries located outside Canada. This area of banking also includes the supervision of correspondent banking relationships, foreign exchange trading, and trade finance.
        • Investment Canada Act (ICA) Acronym, Canada,
          • A Canadian law that gives the government power to deny foreign investments of "significant" size if they fail to provide a "net benefit to Canada."
        • Note Definition,
          • A legal acknowledgement of a debt and an implicit promise to repay. It includes the loan amount, interest rate and term.
        • Transaction Definition,
          • Action in a bank account. It may be a deposit, withdrawal, debit card payment, service charge or interest payment.
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