An option to buy or sell a foreign currency. Bloomberg Financial Dictionary
————
Holder's option to receive income and/or redemption payments in one of several currencies, as determined by the terms and conditions of the issue. Euroclear Clearing and Settlement glossary
* * *
* * *
currency option UK US noun [C]
► FINANCE a type of investment that allows you to buy an amount of foreign currency at a particular exchange rate (= price) for a particular period: »
Some companies have used currency options to convert dollars into sterling at a known rate two or even three years ahead.
Financial and business terms. 2012.