What is FOREIGN CURRENCY ACCOUNT?

A deposit account that a local bank or foreign bank maintains. It is done in another currency than the bank that has the deposit in.

More On This Topic

  1. Legalities Of Bitcoin And Other Cryptocurrency
  2. How To Handle Foreign Income Tax
  3. Exploring Presidential Conflicts of Interest
  4. How to Bring Cash Legally Into the United States
  5. How to Close a Failed Bank Resolution
  6. What Does Pod Mean On A Bank Account?
  7. Is Inheritance Taxable?
  8. Do I Have to Pay Taxes on Capital Gains If I Trade Stocks in the U.S.?
  9. How To Get An I-551 Visa Stamp
  10. How Do I Cash a Check Without a Bank Account?

Related Legal Terms

FOREIGN CURRENCY TRANSLATION GAIN/LOSS, FOREIGN CURRENCY CREDIT, NOSTRO ACCOUNT, RESERVE CURRENCY, FOREIGN EXCHANGE (FOREX OR FX), VOSTRO ACCOUNT, CONVERTIBLE CURRENCY, GROUP CURRENCY, CURRENCY DERIVATIVE, FOREIGN RESERVE


Link to This Definition

Did you find this definition of FOREIGN CURRENCY ACCOUNT helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary