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TeachMeFinance.com - explain Foreign exchange loan historic definition... Foreign exchange loan -- When a loan of foreign exchange is made exchange is loaned; the money represented by the exchange is not loaned, but a bill of exchange is loaned. If the borrower has an obligation that is payable at home he may use the bill in meeting it or he may sell the bill and use instead the money received for it. If the obligation is payable abroad he presumably will forward the bill in payment of it. Collateral (security) may be and generally is deposited with the lender. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2007 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.