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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
^
38% - Moderately

Foreign Exchange


Synonyms:exchange of currency, foreign credit instruments
Acronyms &
abbreviations:
F/X, FE, FOREX, FX
Notes:Bank account transaction code.
Filed Under: bank statements, financial-banking, investments
Tags: banking, foreign exchange, monetary policy
 
Broadly associated with: [BMO Financial Group]
Narrowly associated with: [BMO Bank of Montreal]

Definition of foreign exchange (F/X, FE, FOREX, FX)

foreign exchange (F/X, FE, FOREX, FX)
1. Instruments (such as paper currency, notes, and cheques) used to make payments between individuals, organizations, or countries that use different currencies.

Related Terms and Acronyms:

  • cheque (CK)   A written order for payment of a certain amount of money.
      ➥  Bank account transaction code.
  • derivatives   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)   Paper money and coins from other countries.
  • foreign currency surcharge   A fee charged by a credit card company for purchases made in a foreign currency.
  • foreign exchange station (FXS)
  • foreign investment   Investing money into a business in another country.
  • international banking   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)   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   A legal acknowledgement of a debt and an implicit promise to repay. It includes the loan amount, interest rate and term.
  • transaction   Action in a bank account. It may be a deposit, withdrawal, debit card payment, service charge or interest payment.

More Related Terms and Acronyms


Broad and Narrow Associations

[BMO Bank of Montreal]
  • Bank of Montreal (BMO) — Company Est.1817, Canada-wide, Very Important
      ➥  Canada's very first bank. A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages, and reverse mortgages.
  • cheque (CK)Definition   A written order for payment of a certain amount of money.
      ➥  Bank account transaction code.
  • certified cheque (CC)Definition   A cheque that a bank guarantees will clear.
  • other automated banking machine (OM) — Acronym, Low Relevance
  • other charge (DC) — Acronym, Low Relevance
[BMO Financial Group]
  • Bank of Montreal (BMO) — Company Est.1817, Canada-wide, Very Important
      ➥  Canada's very first bank. A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages, and reverse mortgages.
  • cheque (CK)Definition   A written order for payment of a certain amount of money.
      ➥  Bank account transaction code.
  • certified cheque (CC)Definition   A cheque that a bank guarantees will clear.
  • Bank of Montreal Mortgage Corporation (BMMC) — Company, Canada-wide
      ➥  A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
  • other charge (DC) — Acronym, Low Relevance

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