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External Bond
Source: Encyclopedia of Banking & Finance (9h Edition) by Charles J Woelfel
(We recommend this as work of authority.)

When a government borrows money by floating a bond issue in a foreign country, it is said to float an external loan, and its bonds are external bonds.  The principal and interest of such bonds are issued and payable in the currency of the country in which the bonds are marketed and have the advantage of eliminating the risks of exchange fluctuations for the nationals of the country whose currency is used.  Such loans are to be distinguished from INTERNAL BONDS which the government sells to investors within the country.

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