hard currency

American  

noun

1. money that is backed by gold reserves and is readily convertible into foreign currencies.

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Example Sentences

Cuba’s economy doesn’t produce enough hard currency to pay its bills.

From The Wall Street Journal

Washington lifted sanctions on potash, a key ingredient for fertilizer and an important source of hard currency for Belarus, the third-largest producer after Canada and Russia.

From The Wall Street Journal

“It would be really helpful to accumulate hard currency, which is not a minor advantage for Argentina,” said Benjamin Gedan, an Argentina expert and director of the Stimson Center’s Latin America program.

From The Wall Street Journal

"Nor does Washington want Iran to use Iraq as a channel to resell oil products or secure access to hard currency," he added.

From Barron's

Melissa did not cause fatalities in Cuba, according to authorities, but it knocked the stuffing out of the impoverished Caribbean nation, where fuel, electricity, hard currency and affordable foodstuffs were already in short supply.

From Barron's