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Hard currency ( also known as a strong currency and a safe haven currency ) means a reliable currency that is a safe and stable haven It is a currency that is used as an international exchange currency, whose value is relatively fixed, such as the dollar , the euro , and the Japanese yen. The factors that determine a currency as a hard currency are often the ability of the currency to secure relative stability to its purchasing power , in addition to the economic and political strength of the issuing country. [1]

In macroeconomics , a hard currency , safe haven currency , or strong currency is any globally traded currency that acts as a reliable and stable store of value. Factors that contribute to making a currency include hard currencyThe stability and reliability of the legal and bureaucratic institutions of the country in question, the low level of corruption , the long-term stability of its purchasing power , the political and financial conditions of the country , as well as the policies of the currency-issuing central bank .

Safe haven currencies are defined as currencies that countries and investors use as a hedge for their portfolios of risky assets that may be vulnerable to movements in global risk aversion markets . In contrast to hard currency, there is the so-called soft currency, which is the currency that is expected to fluctuate intermittently or fall against other currencies . These fluctuations are usually the result of weak legal institutions or political or financial instability within the country. [1]

Demand for hard currency [ edit ]

Investors and ordinary people generally prefer hard currencies over weak currencies during times of rising inflation (or more precisely, times of rising inflation differentials between countries), times of high political or military risk, or when they feel that government-imposed exchange rates are unrealistic. There may be reasons to prefer investing outside the country, for example: the local currency may be subject to government controls which make it difficult to spend outside 

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