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.

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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


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