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TeachMeFinance.com - explain Short of Exchange Short of Exchange -- The position of a foreign exchange trader who has sold more foreign currency of a particular country than he has in possession to cover sales. historic definition... Short of exchange -- When a drawer of (foreign) exchange has issued (sold) exchange against merely his credit with the concerns upon which he has drawn or in excess of the commercial or other bills which he has on hand to use in covering (paying) the exchange which he has sold he is short of exchange. 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 © 2005 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.