foreign exchange

[ fawr-in iks-cheynj, for- ]
/ ˈfɔr ɪn ɪksˈtʃeɪndʒ, ˈfɒr- /

noun

commercial paper drawn on a person or corporation in a foreign nation. Abbreviation: FX
the process of balancing accounts in commercial transactions between business organizations of different nations. Abbreviation: FX

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Origin of foreign exchange

First recorded in 1685–95
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2020

British Dictionary definitions for foreign exchange

foreign exchange

noun

the system by which one currency is converted into another, enabling international transactions to take place without the physical transportation of gold
foreign bills and currencies
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012

Cultural definitions for foreign exchange

foreign exchange

The ways in which debts between two nations that use different currencies are paid. Foreign exchange rates can have an important effect on a nation's economy, because the value of its currency in other countries affects the cost of both imported and exported goods and services. (See balance of payments.)

The New Dictionary of Cultural Literacy, Third Edition Copyright © 2005 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.