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Xenocurrency
Definition
This is a term for currency that is traded in money markets outside of its native country.
Using the term Xenocurrency :
The Yen is a popular xenocurrency in many markets as it is a reliable currency for use in financing margin transactions, i.e. in a carry trade .
Pay Special Attention To :
Currency trading is often best left to professionals as the volatility and direction of markets can cause quick and unpredictable changes. There are some currency trading systems available, but their reliability must be carefully tested.
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Related terms
carry trade
