What does the term 'hard currency' mean?

Show Answers

A currency supported by gold or silver reserves instead of creditA currency with a value that remains relatively stable and does not vary significantlyBoth of the above descriptionsNeither of the above definitions

Explanation

Option A refers to a currency backed by precious metals like gold or silver, while option B describes a currency with stable value that doesn't fluctuate much. Therefore, the correct answer is C, as hard currency encompasses both these characteristics.