REDEEMABLE means cashable, i.e. able to be converted into ready money or its equivalent, e.g. redeemable stocks and bonds or a cashable check.
BEAR MARKET is a period of falling share prices; a pessimistic state of affairs.
FUNCTIONAL CURRENCY, generally, is the currency of record for any given entity. Within the context of foreign currency, it is the currency which a foreign subsidiary handles on a day-to-day basis in generating net cash flows. It is normally the currency of the country in which the subsidiary operates, but may be the currency of the parent company.
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