Xenocurrency

Categories: Forex, International

Is your currency a xenocurrency? “Xeno” means foreign, so “xenocurrency” is a currency that is used in a place that's...foreign.

For instance, did you know they accept U.S. dollars and Thai baht in Cambodia, in addition to their own currency? Being a cashier in Cambodia is no joke. USD and baht are both xenocurrencies there.

Xenocurrency also counts as currencies that are exchanged, or when you deposit currency from one country into another country’s bank. The term was coined in the '70s to talk about deposits, loans, and investments made using currencies other than the one where the person resides. Xenocurrency investments need investors who aren’t fooling around, since things like conversions and currency fluctuations make things topsy-turvy.

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