foreign exchange

Transaction of international monetary business, as between governments or businesses of different countries.
Negotiable bills drawn in one country to be paid in another country.

foreign exchange - Business Definition
Foreign currency and financial instruments that can be used to make payments in foreign countries.
The purchase or sale of foreign currencies
foreign exchange risk
The risk that the exchange rate on a foreign currency will move against the position held by an investor such that the value of the investment is reduced. For example, if an investor residing in the United States purchases a bond denominated in Japanese yen, a deterioration in the rate at which the yen exchanges for dollars will reduce the investor's rate of return, since he or she must eventually exchange the yen for dollars. Also called exchange rate risk.