Hard currency (also known as a safe-haven currency or strong currency), in economics, refers to a globally traded currency that is expected to serve as a reliable and stable store of value. Factors contributing to a currency's hard status might include the long-term stability of its purchasing power, the associated country's political and fiscal condition and outlook, and the policy posture of the issuing central bank.
Conversely, a soft currency indicates a currency which is expected to fluctuate erratically or depreciate against other currencies. Such softness is typically the result of political or fiscal instability within the associated country.
Many currencies are neither hard nor soft.
Varying theories of monetary policy, and the ever-present risk of unexpected geopolitical and policy events, preclude any claim of a currency's hardness from being called definitive.
The paper currencies of some developed countries have earned recognition as hard currencies at various times, including the United States dollar, Euro, Swiss franc, British pound sterling, Japanese yen, and to a lesser extent, the Canadian dollar and Australian dollar. Times change, and a currency that is considered weak at one time may become stronger, or vice versa. However, countries that consistently run large trade surpluses, tend to have hard currencies, China's currency can be considered hard, though not convertible[citation needed].
The Grid are an English electronic dance group, consisting of Richard Norris and David Ball (formerly of Soft Cell), with guest contributions from other musicians. They are best known for the hits "Swamp Thing", "Crystal Clear", "Rollercoaster", "Floatation", and "Cybernetic" (with Robert Fripp and Phil Manzanera).
The Grid formed in 1988 and had their first success with debut single, "Floatation", released on East West Records in 1990. They went on to release a string of ten UK hit singles and four albums, and toured the UK, Europe, Asia and Australia. The group's 1994 album Evolver reached #14 in the UK Albums Chart. The lead single from this album, "Swamp Thing", featuring elaborate banjo lines played by Roger Dinsdale. "Swamp Thing" proved to be a commercial success in the UK, Europe and Australia, reaching #3 in the UK and Australia and selling a total of one million copies.[citation needed]
In 1996, Norris and Ball agreed to a hiatus period in order pursue individual music interests. Norris formed the Droyds, which went on to remix tracks by musicians including Armand Van Helden and Siobhan Fahey, and wrote the official biography of Paul Oakenfold (published in 2007): Ball reformed Soft Cell with Marc Almond, and also wrote music scores for films.[citation needed] Norris has since formed the psychedelic duo, Beyond The Wizard's Sleeve, with DJ Erol Alkan, and has released a number of solo records and remixes under the name The Time and Space Machine.
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