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 n. a business where currencies of different countries may be

term meaning

change 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 n. automatic machine from which clients of a bank may

dispenserUK 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

term meaning

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 n. the currency of other countries

exchange

The tourism industry is the country's main source of foreign

exchange.
term meaning

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.
term meaning

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.
term meaning

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.