Define: Xenocurrency

UK Accounting Glossary

Definition: Xenocurrency



Advertisement



Full Definition of Xenocurrency


Xenocurrency refers to a currency that is traded or circulated in a country other than its native country, the country issuing the currency. The prefix “Xeno” actually means “foreign” or “strange,” so Xenocurrency literally means “foreign currency.” An example of Xenocurrency would be the Chinese Yuan when it is traded outside of China – perhaps in the United States. When Xenocurrency is deposited in a bank outside its domestic country, especially if it is deposited in a European country, then the Xenocurrency may be referred to as euro currency; this does not require that the Xenocurrency involve European countries. This form of Xenocurrency originally referred to non-European deposits held in European banks, but is now used in a more generic sense.


Advertisement




Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/xenocurrency/
Modern Language Association (MLA):
Xenocurrency. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. March 29, 2020 https://payrollheaven.com/define/xenocurrency/.
Chicago Manual of Style (CMS):
Xenocurrency. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/xenocurrency/ (accessed: March 29, 2020).
American Psychological Association (APA):
Xenocurrency. PayrollHeaven.com. Retrieved March 29, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/xenocurrency/

Definition Sources


Definitions for Xenocurrency are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 4th February 2020.