nonfunctional currency
Defined in 1 place of the United States Code.
For purposes of this section, the term “nonfunctional currency” includes coin or currency, and nonfunctional currency denominated demand or time deposits or similar instruments issued by a bank or other financial institution.
Source
- 1994–present26 U.S.C. § 988Internal Revenue Code · Treatment of certain foreign currency transactions · for purposes of this section