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The currency which has a tendency of quick migration is called ?
1. Hot currency
2. Gold currency
3. Soft currency
4. Hard currency

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Correct Answer - Option 1 : Hot currency

The correct answer is Hot currency.

  • The currency which has a tendency of quick migration is called Hot currency.

  • Hot currency:
    • It is the term for the Forex market and is the temporary name for any Hard currency.
    • If any Hard currency is exiting any economy at a fast pace for the time, the Hard currency is said to be Hot currency.

  • Soft Currency:
    • It is the currency that is easily available in any economy in its Forex market
    • For example, Indian Rupee is the Soft currency in the Indian Forex market.
  • Hard currency refers to money that is issued by a nation that is seen as politically and economically stable.
  • In macroeconomics, hard currency, safe-haven currency, or strong currency is any globally traded currency that serves as a reliable and stable store of value.

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