LIVE Course for free

Rated by 1 million+ students
Get app now
0 votes
17 views
in GK by (30.0k points)
closed by
The currency which has a tendency of quick migration is called ?
1. Hot currency
2. Gold currency
3. Soft currency
4. Hard currency

1 Answer

0 votes
by (54.3k points)
selected by
 
Best answer
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.

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.

Categories

...