Hard Currency - The term "hard currency" is a carry-over from the days when sound currency was freely convertible into "hard" metal, i.e. gold. It is used today to describe a currency which is sufficiently sound so that it is generally accepted internationally at face value.
Hedge Funds - Speculative funds managing investments for private investors (in the US, such funds are unregulated if the number of investors does not exceed one hundred).
Hot Money - (1) Large quantities of money that move quickly in international currency exchanges due to speculative activity. (2) Foreign funds temporarily transferred to a financial center and subject to withdrawal at any moment.