Hound upstanding character for money (7)
I believe the answer is:
afghani
'money' is the definition.
(I have seen 'foreign money' mean 'afghani' so perhaps 'money' could also mean 'afghani')
'hound upstanding character' is the wordplay.
'hound' becomes 'Afghan' (Afghan hound is a breed of dog).
'upstanding character' becomes 'i' (vertical or upright letter or character).
'afghan'+'i'='AFGHANI'
'for' is the link.
(Other definitions for afghani that I've seen before include "hundred puls" , "One coming from Kabul" , "Currency in Kabul" , "'Person from Kabul, say (7)'" , "Asian money" .)