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

But given the implosion of the island’s economy, the insolvent government is desperate for investment and hard currency.

From The Wall Street Journal

Before the pandemic, tens of thousands of Chinese tourists visited North Korea, generating hard currency for the Kim regime since sanctions don’t cover tourism.

From The Wall Street Journal

Cuba’s biggest generator of hard currency are the more than 20,000 doctors the island sends to more than 50 countries, including Mexico and South Africa.

From The Wall Street Journal

The government of the cash-strapped nation of 11 million people, which relies on tourism to bring in hard currency, had been hoping for 2.6 million arrivals.

From Barron's

The app lets users exchange hard currency for dollar-pegged stablecoins so that users can make payments and interact with the traditional banking system.

From The Wall Street Journal