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forward exchange

American  

noun

  1. a foreign bill purchased at a stipulated price and payable at a future date.

Etymology

Origin of forward exchange

First recorded in 1925–30

Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023

Idioms from The American Heritage® Idioms Dictionary copyright © 2002, 2001, 1995 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company.