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Money Vocabulary

term meaning
A.T.M. abbr. Automated Teller Machine; cash dispenserUK
You didn't leave your credit card in the ATM again, did you?
banknote n. a piece of paper money; billUS
They've got some old $5,000 banknotes in the museum if you want to see one.
billUS n. a banknote; a piece of paper money
Can you change this twenty-dollar bill for a ten-dollar bill and two fives?
black market n. illegal traffic in officially controlled commodities such as foreign currency
If you change money on the black market you'll get a better exchange rate, but it's riskier.
bureau de change n. a business where currencies of different countries may be exchanged - also currency exchangeUS
Don't use the bureau de change at the airport. The exchange rate's terrible.
cash n. 1 coins or bank notes (not cheques); 2 actual money paid (not credit)
You can pay by cash, credit card or smartphone.
cash dispenserUK n. automatic machine from which clients of a bank may withdraw money; ATM
Is there another cash dispenser nearby? This one's out of service.
cashier n. person dealing with cash transactions in a bank, store etc
Please pay the cashier at the counter over there.
coin n. a piece of metal money
My dad collected old coins when he was a kid.
currency n. the money in use or circulation in a particular country
Eurozone countries had their own currencies before they switched to the Euro.
debt n. money that's owed by one person to another
Jenny's father is selling the family home to pay off his gambling debts.
exchange rate n. the rate at which one currency can be exchanged for another - also rate of exchange n.
Would you mind checking today's official exchange rate on one of those currency websites?
foreign exchange n. the currency of other countries
The tourism industry is the country's main source of foreign exchange.
hard currency n. currency that will probably not fall in value and is readily accepted
The government gets hard currency from oil exports, then uses it when buying weapons.
inflation n. a general increase in prices as a country's currency loses value
If your bank's interest rates are lower than the rate of inflation, your savings will be worth less over time.
interest n. money that a lender or bank depositor is paid for the use of their money, often at an agreed monthly or yearly rate
You get more interest from a fixed-term account, but you'll lose the interest if you take money out before the term's up.
invest v. put money into a business, buy shares or land, etc in order to make a profit investment n.
I'll invest half my savings in the stock market, and put the rest into low-risk government bonds.
legal tender n. currency that cannot legally be refused in payment of a debt
Printed banknotes have only been legal tender in Britain for a couple of hundred years.
petty cashUK n. a cash fund for small, everyday expenses
If we need some milk or whatever, get the money from petty cash.
soft currency n. currency that will probably fall in value and is not readily accepted
If you're exporting, stipulate payment in a hard currency like the Euro or you might get a soft currency instead.
speculate v. to make high-risk investments in business, foreign currency, land etc in the hope of quick profits - speculation n.
Hedge funds use investors' money to speculate in the stock market.
transaction n. a (usually commercial) exchange; any deal involving a buyer and a seller - to transact v.
Selling a house is a complex transaction, so you'll need a real estate lawyer to do the legal work.