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FrançaisIn the context of international trade, the financial service consisting of the granting of cash in advance against accounts receivable from foreign customers. More generally, a range of financing and risk management services offered by specialized companies, called factors, to…
Read MoreFloating currency
One whose value in terms of foreign currency is not kept stable (on the basis of the par value or a fixed relationship to some other currency) but instead is allowed, without a multiplicity of exchange rates, to be determined…
Read MoreFloating exchange rate
A rate of exchange that is determined by market forces. See also clean float and dirty float.
Read MoreForeign currency
The currency of any foreign country which is authorized medium of circulation and the basis for record keeping in that country. Foreign currency is traded by banks either by the actual handling of currency or checks, or by establishing balances…
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