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Glossar

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Foreign Exchange Line Of Credit

Foreign Exchange Line Of Credit

A foreign exchange line of credit is a credit facility allowing a company to draw in one or in several currencies other than its functional currency. For example, a company with EUR as its functional currency may borrow from the same credit line in USD or GBP, depending on its specific needs at the moment. Such foreign exchange lines of credit in multiple currencies may save a multinational corporation the time and expense incurred in FX transactions.