Wiktionary

foreign exchange

English

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Noun

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foreign exchange (countable and uncountable, plural foreign exchanges)

  1. The exchange of currency from one country for currency from another country.
  2. Foreign currency.
    • 1999, THE FOREIGN EXCHANGE MANAGEMENT ACT, 1999, NO. 42 OF 1999 [29th December, 1999.]
      "foreign exchange" means foreign currency and includes,- (i) deposits, credits and balances payable in any foreign currency, (ii) drafts, travelers cheques, letters of credit or bills of exchange, expressed or drawn in Indian currency but payable in any foreign currency, (iii) drafts, travelers cheques, letters of credit or bills of exchange drawn by banks, institutions or persons outside India, but payable in Indian currency;

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