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Make Money in Forex by Avoiding These Psychological Risks May 24, 2022
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Hard Currency

Mira Team by Mira Team
January 1, 2021
in Forex Terms
Reading Time: 1 min read
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Definition – What does Hard Currency mean?

Hard currency refers to a currency that is perceived as being stable by a majority of market participants. Generally speaking, a hard currency is wholly or partially backed by some durable good as in a gold standard or issued by a nation that is seen as having a strong economy and stable political system. Hard currency is also referred to as hard money.

ForexTerms explains Hard Currency

Traditionally, hard currency was only used to refer to gold-backed currencies. In modern times, however, very few currencies are 100% backed by gold. This means that the whole standard of hard currency has shifted to less literal measures like economic strength and political stability.

ⓘ Mira FX is not liable for any damage or loss, including but not limited to, any loss of investment, which may be based either directly orindirectly on the use of or reliance on such information. Before deciding whether or not to take part in foreign exchange or financial markets or any other type of financial instrument, please carefully consider your investment objectives, level of experience and risk appetite.

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