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Hard currency

In the world of foreign trade this term is commonly used to describe any currency which is generally safe, i.e. in no apparent danger of losing its value by loss of confidence or by devaluation. The demand for a hard currency will, almost by definition, exceed the supply. At one time the dollar was looked upon as a hard currency, but its role has been partially usurped by others, e.g. the euro and the yen.

Reference: The Penguin Business Dictionary, 3rd edt.