Key Currency

Summary of Key Currency

The currency of a major trading nation widely accepted in settlement of international accounts. At present, eight currencies are regarded as key currencies and are known as the Big Eight (read this and related legal terms for further details).

(Main Author: William J. Miller)

Key Currency in International Trade

Meaning of Key Currency, according to the Dictionary of International Trade (Global Negotiator): A major currency in the global economy. Small countries, which are highly dependent on exports orientate their exchange rate to major currencies in the global economy, the so-called key currencies. Key currencies include the Euro, the US dollar, the British pound or the Japanese Yen.