hard currency

noun

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

Example Sentences

“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.

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Some countries argued for turning off the pipelines and removing an easy supply of hard currency for Russia.

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

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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.

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Acute shortages of fuel and hard currency, coupled with annual inflation of over 23 percent, has soured voters on the outgoing Socialists.

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