foreign exchange
noun1
The exchange of currency from one country for currency from another country.
- Near-synonyms: currency exchange, money changing
2
Foreign currency.
- "foreign exchange" means foreign currency and includes,- (i) deposits, credits and balances payable in any foreign currency, (ii) drafts, travelers cheques, letters of credit or bills of exchange, expressed or drawn in Indian currency but payable in any foreign currency, (iii) drafts, travelers cheques, letters of credit or bills of exchange drawn by banks, institutions or persons outside India, but payable in Indian currency;1999, THE FOREIGN EXCHANGE MANAGEMENT ACT, 1999, NO. 42 OF 1999 [29th December, 1999.]
- Derived terms
- foreign exchange control, foreign exchange market
- Related terms
- bureau de change, money changer