Vehicle currency

The currency used to invoice an international trade transaction, especially when it is not the national currency of either the importer or the exporter.
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vehicle currency

A vehicle currency performs the same function on the foreign exchange market as money on the goods market: instead of exchanging currency x directly into currency y, currency x is exchanged into currency z, which is then exchanged into currency y. Foreign exchange operators will prefer this operation to the direct exchange if the sum of the transac...
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