hard currency

noun

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

Example Sentences

But with Tunisia now mired in public debt, the current government has backtracked on that promise and is planning a fivefold increase in fertiliser output at Gabes in a bid to boost hard currency earnings.

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“As with any investment or any product with a fluctuating value, buyers and users should seek as much information as possible about the product before exchanging their own hard currency for crypto.”

Read more on Salon

At the same time, its moribund economic prospects mean that it can’t ignore any opportunity to earn hard currency.

Read more on Los Angeles Times

The World Bank has estimated that the cash economy makes up 46% of the country’s GDP, as Lebanese distrustful of banks in the wake of the crisis have sought to deal in hard currency.

Read more on Seattle Times

Across Argentina, hard currency — specifically, the country’s ubiquitous 1,000-peso notes — remains the most popular way to pay for things.

Read more on Seattle Times