An adjustable peg is an exchange rate policy where a currency is pegged or fixed to a currency, such as the U.S. dollar or euro, but can be readjusted. 

The End of the Bretton Woods System (1972–81)

China's Currency Policy: An Analysis of the Economic Issues: Background on China's Currency Policy

An adjustable peg is an exchange rate policy in which a currency is pegged or fixed to a major currency such as the U.S. dollar or euro, but which can be readjusted to account for changing market conditions or macroeconomic trends. The adjustable peg is a hybrid system seeks to take advantage of the benefits from both a fixed peg and freely floating currency.
An adjustable peg can float on the market according to economic conditions, but typically has only a 2% percent degree of flexibility against a specified base level or peg. An adjustable peg is an exchange rate policy in which a currency is pegged or fixed to a major currency such as the U.S. dollar or euro, but which can be readjusted to account for changing market conditions or macroeconomic trends. An adjustable peg describes a currency regime where a country allows its currency's value to float on the market, but only within a narrow band before the central bank intervenes to restore the peg. A crawling peg is a system of exchange rate adjustments in which a currency with a fixed exchange rate is allowed to fluctuate within a narrow band of rates.

Adjustable Peg

The Netherlands Antilles guilder (ANG), also known as the Dutch guilder, is the national currency of the islands of Curaçao and Sint Maarten.

Kingdom of the Netherlands: One Kingdom – Four Countries; European and Caribbean

What are the different parts of the Kingdom of the Netherlands?

The Netherlands Antilles guilder (ANG) is the currency of the Caribbean island countries Curaçao and Sint Maarten. Curaçao and Sint Maarten have explored replacing the Netherlands Antilles guilder with a new currency known as the Caribbean guilder (CMg), the value of which would be pegged at 1.79 to the U.S. dollar.﻿﻿ However, the adoption of this currency has been delayed owing to political negotiations concerning the location and governance of a new central bank. Curaçao and Sint Maarten have considered replacing the ANG with a new currency, the Caribbean guilder (CMg).
The Antilles guilder served as the currency of the Netherlands Antilles until its dissolution in 2010. The Netherlands Antilles was comprised of Aruba, Bonaire, Curaçao, Saba, Sint Eustatius and Sint Maarten, and existed as a single autonomous country within the Kingdom of the Netherlands. Curaçao and Sint Maarten are autonomous countries within the Kingdom of the Netherlands, and were among the members that formed the single autonomous country, the Netherlands Antilles, until its dissolution in 2010.

Netherlands Antilles Guilder (ANG)

AUD (Australian Dollar) is the currency abbreviation for the Australian dollar, the currency for the Commonwealth of Australia. 

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Triennial Central Bank Survey: Foreign Exchange Turnover in April 2019

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Australian Dollar to New Zealand Dollar Spot Exchange Rates for 2015

AUD (Australian Dollar, or "Aussie") is the currency abbreviation for the Australian dollar (AUD), the offocial currency for the Commonwealth of Australia. The AUD/USD currency pair tends to be negatively correlated with USD/CAD, as well as the USD/JPY pair, largely because the dollar is the quote currency in these cases. As of 2019, the Australian dollar ranked as the fifth most traded currency in the world, according to worldwide foreign exchange transactions, accounting for approximately 7% of trade.﻿﻿ The high trading volume is due in part to Australia's political and economic stability and to the government's limited intervention in the foreign exchange market. As a result, the Australian dollar weakened sharply, falling more than 15 percent against the U.S. dollar reaching parity against the New Zealand dollar (NZD) - levels not seen since the 1970s. In 1967, Australia abandoned the sterling peg and pegged to the U.S. dollar at 0.8929 Australian dollars to one U.S. dollar.

AUD (Australian Dollar)

A bimetallic standard is a monetary system in which a government recognizes coins composed of gold or silver as legal tender.

A bimetallic standard, or bimetallism, is a monetary system in which a government recognizes coins composed of both gold or silver as legal tender. Under the gold standard, there is no pre-established ratio between gold and silver, and the price of silver vis-a-vis gold essentially floats freely on the market. Under the gold standard, only gold is legal tender and the gold/silver price ratio freely floats. The mint ratio, or gold/silver ratio, is the price of an ounce of gold divided by the price of an ounce of silver, and is the exchange rate between the two precious metals. While the officially adopted silver-to-gold parity ratio of 15:1 accurately reflected the market ratio at the time, after 1793 the value of silver steadily declined, pushing gold out of circulation, according to Gresham's law.

Bimetallic Standard

Black Wednesday refers to September 16, 1992, when a collapse in the pound sterling forced Britain to withdraw from the European Exchange Rate Mechanism. 

Black Wednesday refers to September 16, 1992, when a collapse in the pound sterling forced Britain to withdraw from the European Exchange Rate Mechanism (ERM). Black Wednesday refers to September 16, 1992, when a collapse in the pound sterling forced Britain to withdraw from the European Exchange Rate Mechanism (ERM). On Black Wednesday, the Bank of England declared that the U.K. would leave the European ERM. Before Black Wednesday, the U.K. had been in the European ERM for two years.

What Was Black Wednesday?

The Calgary dollar is a local, complementary currency that was developed to inspire Calgary consumers to shop locally and increase self-sufficiency.

FAQ -- General Questions/Individual Users

The Calgary dollar is a local currency developed for and used only by citizens of Calgary, Alberta, Canada. A customer might pay for a $20 purchase with $5 in Calgary dollars and $15 in Canadian dollars at a business that accepts 25 percent Calgary dollars. The Calgary dollar is a local complementary currency for the community of Calgary, Canada. Calgary dollars are part of an initiative to inspire local consumers to shop close to home, to personalize economic relations, to nurture a sense of community, and to increase both local self-sufficiency and bioregionalism. The Calgary dollar is a local currency developed for and used only by citizens of Calgary, Alberta, Canada.

Calgary Dollar

Cambist is an antiquated term that refers to a financial professional who is considered an expert in the international currency exchange markets.

The Universal Cambist and Commercial Instructor

Cambist is an antiquated term that refers to a financial professional who is considered an expert in the international currency exchange markets. The term is rarely used today, but is sometimes used to refer to those involved in exchange, such as bankers, brokers, traders, or even change machines.
Today, cambists are no longer needed as real-time foreign exchange rates are available to everyone, online, often for free. Although cambists have been replaced by new technologies, the term is still occasionally used to describe professionals who are involved in the forex market, such as bankers, brokers, currency traders, or even change machines. It is also sometimes used to refer to a reference manual that lists currency exchange values and other information useful for conducting international trade. Banks, brokers, currency houses, or trading floors can therefore exchange currencies quickly at negotiated rates without the use of a cambist.

Cambist

A Chinese Depositary Receipt (CDR) is a depositary receipt that represents a pool of foreign equity that is traded on Chinese exchanges.

Investor Bulletin: American Depositary Receipts

A Chinese Depositary Receipt (CDR) is a type of depositary receipt (DR) that is traded on a Chinese stock exchange. A major problem for Chinese tech firms and investors alike is government rules which forbid or severely limit foreign ownership of local companies and capital controls which disallow Chinese citizens to purchase foreign assets. In other words, it refers to shares in non-Chinese companies that trade in China the same way that American depositary receipts (ADRs) allow non-U.S. company shares to trade on American exchanges. A Chinese Depositary Receipt (CDR) is a depositary receipt that represents a pool of foreign equity that is traded on Chinese exchanges. The goal of issuing CDRs is to lure capital back to the Chinese market in order to drive the economy, as China’s tech giants have traditionally opted to list outside of their home market.

Chinese Depositary Receipt (CDR)

A circus swap combines an interest rate swap and a currency swap; a fixed-rate loan in one currency is swapped for a floating-rate loan in another.

Federal Reserve Board welcomes and supports release of proposal and supervisory statements that would enable clear end date for U.S. Dollar (USD) LIBOR and would promote the safety and soundness of the financial system

A circus swap is a common forex strategy that involves the combination of an interest rate swap and a currency swap in which a fixed-rate loan in one currency is swapped for a floating-rate loan in another currency. A circus swap is a common forex strategy that involves the combination of an interest rate swap and a currency swap in which a fixed-rate loan in one currency is swapped for a floating-rate loan in another currency. CIRCUS stands for Combined Interest Rate and Currency Swap, and trades over-the-counter (OTC).
These swaps are used as hedges by international corporations, allowing them to lock in an exchange rate on a set amount of currency with a benchmarked interest rate.
Companies and institutions use circus swaps to hedge currency and interest rate risk, and to match cash flows from assets and liabilities. Note that the floating rate used in a circus swap is generally indexed to the London Interbank Offered Rate (LIBOR).
According to an announcement by the Federal Reserve in November 2020, banks should stop writing contracts using LIBOR by the end of 2021.﻿﻿ The Intercontinental Exchange, the authority responsible for LIBOR, will stop publishing one week and two month LIBOR after December 31, 2021. A circus swap integrates both a plain vanilla interest rate swap with a currency swap into the same contract.

Circus Swap

The CNY, or the Chinese yuan renminbi, is the general term for the currency of the People's Republic of China.

A Look at China’s New Exchange Rate Regime

Currency Devaluation and U.S.-China Relations

USTR Issues Tariffs on Chinese Products in Response to Unfair Trade Practices

IMF Adds Chinese Renminbi to Special Drawing Rights Basket

As noted above, the term yuan refers to a single unit of the currency while the term renminbi refers to the actual name of the currency itself. The term Chinese yuan renminbi (CNY) refers to the currency used in the People's Republic of China. The term yuan renminbi, though, is a lot like the terms pound sterling and pound, which are used to describe the currency of the United Kingdom. The Chinese yuan renminbi is the currency used in the People's Republic of China.

Chinese Yuan Renminbi (CNY)

Competitive devaluation is a series of currency depreciations that nations resort to in tit-for-tat moves to gain an edge in international export markets.

Beggar-Thyself versus Beggar-Thy-Neighbor Policies: The Dangers of Intellectual Incoherence in Addressing the Global Financial Crisis

Competitive devaluation is a theoretical scenario in which one nation matches an abrupt devaluation in another country's currency, often in a tit-for-tat manner. Economists view competitive devaluation as harmful to the global economy because it may set off a round of currency wars that could have unforeseen adverse consequences, such as increased protectionism and trade barriers.﻿﻿ At the very least, competitive devaluation can lead to greater currency volatility and higher hedging costs for importers and exporters, which can then impede a higher level of international trade. Competitive devaluation is a theoretical scenario in which one nation matches an abrupt devaluation in another country's currency, often in a tit-for-tat manner. Many economic scholars consider competitive devaluation a “beggar-thy-neighbor” type of economic policy since, in essence, it amounts to a nation attempting to gain an economic advantage without consideration for the ill effects it may have on other countries. Competitive devaluation involves one country strategically devaluing its currency in response to another country's own devaluation.

Competitive Devaluation

The Confederate dollar (CSD) was the legal tender of the eleven states that comprised the Confederate States of America during the U.S. Civil War.

Welcome To CSA Notes, established in 2001, where we buy and sell GENUINE CONFEDERATE and STATES notes from the Civil War era

$1,000 1861 Confederate States of America Note

Table of Contents
What Was the Confederate Dollar? The Confederate dollar was a promissory note of credit that promised the bearer compensation six months after the end of the war.
In contrast to the U.S. dollar (USD), the Confederate dollar had no underlying backing, nor was it pegged to any other tangible asset, such as gold.
As the prospects of the Confederacy winning diminished, the amount of paper money increased, and the Confederate dollar underwent depreciation.
When the Confederacy was disbanded as a political entity following the end of the Civil War, the money lost all existing value. The Confederate dollar, short for the Confederate States of America dollar, was the currency issued by the Confederate States of America. The Confederate dollar, first issued in April 1861, two months after the formation of the Confederate States of America, was the primary means by which the confederacy planned to finance the civil war against the United States of America. The Confederate dollar (CSD), issued in 1861, was the legal tender used by the eleven states that comprised the Confederate States of America during the U.S. Civil War.

Confederate Dollar (CSD)

Continentals refers to paper currency issued by the Continental Congress in 1775 to help fund the American Revolutionary War.

The Successful British Counterfeiting of American Paper Money During the American Revolution

Continentals refers to paper currency issued by the Continental Congress in 1775 to help fund the American Revolutionary War. Continentals were not backed by any tangible asset; they were supposed to hold their value on the Continental Congress's expectation of future tax revenues, which, given that they were in the midst of a war, created more uncertainty than the new currency could withstand. Continentals refers to paper currency issued by the Continental Congress in 1775 to help fund the American Revolutionary War. Continentals refers to paper currency issued by the Continental Congress in 1775 to help fund the American Revolutionary War. The invention of the U.S. Mint, the federal monetary system, and the U.S. Coinage Act of 1792 all quickly replaced the paper continentals.

Continentals

A currency binary option is a way to make very short-term bets on exchange rates.

Currency binary options offer an all-or-nothing fixed payoff based on an exchange rate in the forex market when the option expires, which can be as little as five minutes after buying the option. Currency binary options offer an all-or-nothing fixed payoff based on an exchange rate in the forex market when the option expires, which can be as little as five minutes after buying the option. Your initial cost to sell each binary option contract is, therefore, $40 ($100 - $60). Assume you sell 10 contracts, and receive a total of $400. At 3 P.M. on Friday, let’s say the euro is trading at 1.2400. Currency binary options are mostly limited to major currency pairs like EUR/USD, GBP/USD and USD/YEN. Moreover, currency binary options tend to have rather short expiration cycles, lasting from days to hours, or even minutes.

Currency Binary Option

A currency peg is a policy in which a national government sets a specific fixed exchange rate for its currency. Learn the pros and cons of currency pegs.

Exploring the Possibility and Implications of Saudi Arabia Abandoning Its US Currency Peg

The economic benefits of pegging the Saudi riyal to the dollar

Annual Report on Exchange Arrangements and Exchange Restrictions 2019

Table of Contents
What Is a Currency Peg?
Understanding Currency Pegs Pros
Expands trade and boosts real incomes
Makes long-term investments realistic
Reduces disruptions to supply chains
Minimizes changes to the value of investments
Affects forex trading by artificially stemming volatility
Erodes purchasing power when pegged too low
Creates trade deficits when pegged too high
Increases inflation when pegged too high
Since 1986, the Saudi riyal has been pegged at a fixed rate of 3.75 to the USD. The Bottom Line
A currency peg is a policy in which a national government sets a specific fixed exchange rate for its currency with a foreign currency or a basket of currencies. A currency peg is a policy in which a national government sets a specific fixed exchange rate for its currency with a foreign currency or basket of currencies. Pegging your currency means locking in the exchange rate between your nation's currency and the currency of another.

Currency Peg

The current rate method is a method of foreign currency translation where most financial statement items are translated at the current exchange rate.

The current rate method is a method of foreign currency translation where most items in the financial statements are translated at the current exchange rate. In the current rate method, the cumulative translation adjustment (CTA), which is the loss/gain associated with the currency translation, is held on the balance sheet as an unrealized gain or loss.
When translating currency using the current rate method:
1. The current rate method is a method of foreign currency translation where most items in the financial statements are translated at the current exchange rate. The current rate method is a standard method of currency translation that utilizes the current market exchange rate. When a company has operations in other countries, it may need to exchange the foreign currency earned by those foreign operations into the currency used when preparing the company's financial statements—the presentation currency.

Current Rate Method

CVE is the ISO 4217 currency code for the Cape Verde escudo, the official national currency of Cape Verde. 

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Unemployment, total (% of Total Labor Force) (Modeled ILO Estimate) - Cabo Verde

Inflation, Consumer Prices (annual %) - Cabo Verde

CVE is the ISO 4217 currency code for the Cape Verde escudo, the official national currency of the island nation of Cape Verde. CVE is the ISO 4217 currency code for the Cape Verde escudo, the official national currency of the island nation of Cape Verde. Since 1998, the Cape Verde escudo is technically pegged to the euro, owed to the fact that the currency is officially pegged to the Portuguese escudo_,_ which was later replaced by the euro. The Cape Verde Escudo (CVE) is the national currency of the African island nation of Cape Verde. The CVE replaced the former national currency, the Cape Verde real, which was equivalent to the Portuguese real.

Cape Verde Escudo (CVE)

A digital currency exchanger (DCE) is a person or business that exchanges legal tender for electronic currencies, and vice versa, for a commission.

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A digital currency exchanger (DCE) is a person or business that acts as an online market maker and exchanges legal tender and other electronic currencies for electronic currencies, and vice versa, for a commission. A digital currency exchanger (DCE) is a person or business that acts as an online market maker and exchanges legal tender and other electronic currencies for electronic currencies, and vice versa, for a commission. A digital currency exchanger (DCE) is a person or business that acts as an online market maker and exchanges legal tender and other electronic currencies for electronic currencies, and vice versa, for a commission. ​​​​​​​Digital currency exchangers might send funds directly to an investor's virtual wallet or convert currencies to prepaid cards, which can be used to withdraw cash from automated teller machines (ATM).
Digital currencies operate as self-governed currencies, unlike fiat money, which is legally sanctioned by a government. Users are advised to research available digital currency exchanges and compare the posted fees and commissions before opening an account.
Regulators in the U.S., U.K., Europe, Asia, and elsewhere seem to be finally grappling with the fact that companies operating in this fast-evolving market need to be regulated more definitively.

Digital Currency Exchanger (DCE)

Euro notes are the euro-denominated banknotes issued by the ECB that make up the currency of the eurozone.

Euro notes are the legal tender in the form of paper banknotes that can be used in exchange for goods and services in the eurozone. Physical euro notes and coins only began circulating in the euro area or eurozone (those countries within the European Union (EU) that have adopted the euro as their currency) on January 1, 2002. [Wallet with euro notes and coins](data:image/gif;charset=utf-8;base64,R0lGODlhCgAHAPYAABoXGBoaGB4eGyIiIiMjIycnJyotLCwtMDMyLTMyLzg4OEhCP0ZDRERHRot0YIt0bIWDfsmDV4aHgpGTjp+dmKWooquzrqu0tLGzrLW3tLm7try9uLPM48a4nNuyg868qcrBsfDRo8PFwsTFwMbGxMfHxcrLxs3JxMzTz8rR1NTb39vb2czY59DU493j4uvTz/LX1u3o2+Pm5efm5Obj7uzy9fLj4ffk5PDu7/js4v7x6vf18/T09Pf39fjy8/j29Pn39fj49hoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGBoXGCwAAAAACgAHAEYIUQAHFDhgAIGFDDk0nOjA4AeQHzoi+OgxAoACBy5q8GDBoUWJCRAqYNhwwQaQICsIBGiw4IOMGThoiBCQIAWQECA8qEBBQoIECg92wLjxIoaJgAA7)
Wallet with euro notes and coins. Stefanie Grewel / Getty Images
There are two series of banknotes. The first series was issued in 2002 and comprises seven denominations: €5, €10, €20, €50, €100, €200 and €500. Each national central bank within the Eurosystem is an official issuer of euro notes, and prints (and bears the cost of) a proportion of total euro notes in circulation. At the time of ECB's announcement, the number of 500 euro bills in circulation represented over €300 billion, or nearly one-third of all the euro-denominated cash outstanding.﻿﻿ Holding on to physical cash is exactly what negative interest rates, as implemented by the ECB and elsewhere, is meant to dis-incentivize.

Euro Notes

The eurocurrency market is the money market in which currency held in banks outside of the country where it is legal tender is borrowed and lent by banks.

The eurocurrency market is the money market for currency outside of the country where it is legal tender. Interest rates paid on deposits in the eurocurrency market are typically higher than in the domestic market. The eurocurrency market is the money market for currency outside of the country where it is legal tender. The eurocurrency market is the money market for currency outside of the country where it is legal tender. There is also a eurobond market for countries, companies, and financial institutions to borrow in currencies outside of their domestic market.

Eurocurrency Market

The European Currency Unit was the official monetary unit of the European Monetary System before it was replaced by the euro.

The European Currency Unit (ECU) was the official monetary unit of the European Monetary System (EMS) before it was replaced by the euro. The European Currency Unit (ECU) was introduced on March 13, 1979, along with the exchange rate mechanism (ERM), which was designed to reduce exchange rate variability and achieve monetary stability in Europe prior to the introduction of the euro, at parity, on Jan. 1, 1999. The European Currency Unit (ECU) was the official monetary unit of the European Monetary System (EMS) before it was replaced by the euro. The European Currency Unit (ECU) was the monetary unit used by the European Monetary System (EMS) before being replaced by the euro. The exchange rate mechanism (ERM) was introduced alongside the ECU, designed to reduce exchange rate variability and achieve monetary stability in Europe.

European Currency Unit (ECU)

European terms is a foreign exchange quotation convention where the quantity of a specific currency is quoted per one U.S. dollar. 

Sunil Mendis: Is it time for a common currency in the SAARC region

European terms are a way to quote currency exchange rates where the USD is always the base currency. European terms refer to a foreign currency exchange quotation in terms of the amount of a foreign currency needed to buy one U.S. dollar, and so USD is always the base currency. When quoting currency pairs in the forex market, prices are established using the base currency and the quote currency (also known as the terms or counter currency). In forex markets, traders should be aware that the futures market and the spot market often quote currency pairs in different terms, i.e. American terms versus European terms. In European terms, the USD is always placed in the base currency position, meaning how much of a foreign currency is needed to buy one U.S. dollar.

European Terms

The eurozone is a geographic area that consists of the European Union (EU) countries that have fully incorporated the euro as their national currency.

The eurozone, officially known as the euro area, is a geographic and economic region that consists of all the European Union countries that have fully incorporated the euro as their national currency. Regarding economic policy, the Maastricht Treaty aimed to create a common economic and monetary union, with a central banking system—the European Central Bank (ECB)—and a common currency (the euro).
In order to do this, the treaty called for the free movement of capital between the member states, which then graduated into increased cooperation between national central banks and the increased alignment of economic policy among member states. In 1992, the Maastricht Treaty created the EU and paved the way for the formation of a common economic and monetary union consisting of a central banking system, a common currency, and a common economic region, the eurozone. The eurozone, officially known as the euro area, is a geographic and economic region that consists of all the European Union countries that have fully incorporated the euro as their national currency. The eurozone refers to an economic and geographic region consisting of all the European Union (EU) countries that incorporate the euro as their national currency.

Eurozone

Exposure netting is a method of hedging currency risk by offsetting exposure in one currency with exposure in the same or another currency.

Exposure netting is a method of hedging currency risk by offsetting exposure in one currency with exposure in the same or another similar currency. Exposure netting is a method of hedging currency risk by offsetting exposure in one currency with exposure in the same or another similar currency. A firm’s exposure netting strategy depends on a number of factors, including the currencies and amounts involved in its payments and receipts, the corporate policy with regard to hedging currency risk, and the potential correlations between the different currencies to which it has exposure. Exposure netting is thus a more efficient way of managing currency exposure by viewing it as a portfolio, rather than hedging each currency exposure separately. If a company finds that correlation between exposure currencies is positive, the company would adopt a long-short strategy for exposure netting.

Exposure Netting

A foreign currency fixed deposit (FCFD) is a fixed investment instrument in which a sum of money with a fixed term and interest rate is deposited in a bank.

A Foreign Currency Fixed Deposit (FCFD) is a fixed investment instrument in which a specific sum of money that is poised to earn interest is deposited into a bank. Although fixed deposits have virtually no risk, foreign currency fixed deposits introduce an element of exchange rate risk because investors must exchange their currency into the target currency and then convert it back again once the term is over. A foreign currency fixed deposit is a type of time deposit issued by banks to investors who would like to keep foreign currency for future use or hedge against foreign currency fluctuation. The money deposited in the FCFD account cannot be withdrawn until the agreed fixed term has expired.
When foreign currency fixed deposits are larger and longer in duration, they receive much higher interest rates. However, all FCFD investors face foreign exchange risk given that if there is an adverse movement in the exchange rate, the transaction costs and exchange rate difference might negate any excess interest returns or even put the investor in losses.

Foreign Currency Fixed Deposit (FCFD)

A forex club is a national association of wholesale foreign exchange professionals, formed to provide education and networking for its members. 

The forex club is a national association of wholesale foreign exchange professionals, dealers, brokers, and treasury managers whose primary goals are education and networking for its members. In addition to networking, forex clubs affiliated with ACI have access to educational programs and specialized certifications for the FX, fixed income, money market, derivatives, and repo markets. Regional forex clubs are part of the Paris-based ACI Financial Markets Association, an umbrella organization for wholesale financial market professionals that was founded in 1955. The code includes global principles of good practice in the foreign exchange market and was formulated to support the integrity and effective operation of the wholesale foreign exchange market. A nation or regions' forex club will usually be affiliated with the Paris-based ACI Financial Markets Association, an umbrella organization for wholesale financial market professionals.

Forex Club

A forex hedge is a foreign currency trade that's sole purpose is to protect a current position or an upcoming currency transaction. 

A forex hedge is a transaction implemented to protect an existing or anticipated position from an unwanted move in exchange rates. So, if a Japanese company is expecting to sell equipment in U.S. dollars, for example, it may protect a portion of the transaction by taking out a currency option that will profit if the Japanese yen increases in value against the dollar. The primary methods of hedging currency trades are spot contracts, foreign currency options and currency futures. As with options on other types of securities, foreign currency options give the purchaser the right, but not the obligation, to buy or sell the currency pair at a particular exchange rate at some time in the future. By using a forex hedge properly, an individual who is long a foreign currency pair or expecting to be in the future via a transaction can be protected from downside risk.

Forex Hedge

A forex trading robot is an automated software program that helps traders determine whether to buy or sell a currency pair at a given point in time. 

A forex trading robot is a colloquial term for algorithmic trading based on a set of forex market signals that helps determine whether to buy or sell a currency pair at a given point in time. While forex trading robots advertise the prospect of profits, it is important to remember that they are limited in their capabilities and not foolproof.
Forex trading robots are automated software programs that generate trading signals. Forex traders may want to consider developing their own automated trading systems rather than take a risk on third-party forex trading robots. A forex trading robot is a colloquial term for algorithmic trading based on a set of forex market signals that helps determine whether to buy or sell a currency pair at a given point in time. Forex trading robots are automated software programs used to generate trading signals in FX markets.

Forex Trading Robot

The French franc (F) was the national currency of France prior to France's adoption of the euro (EUR) in Jan. 2002.

Euro (EUR) to U.S. dollar (USD) average exchange rate from January 1999 to October 2020

Inflation, consumer prices (annual %) - France

The French franc (F) was the national currency of France prior to France’s adoption of the euro (EUR) in January 2002. The French franc (F) was the national currency of France prior to France’s adoption of the euro (EUR) in January 2002. On Jan. 1, 2002, France finalized its adoption of the euro, following a three-year transitional period during which both the franc and the euro were treated as legal tender. Between 2002 and 2020, the euro has seen its value range from a low of roughly $0.85 U.S. dollars (USD) per euro to a high of nearly $1.60 USD per euro.﻿﻿ France’s gross domestic product (GDP) has grown by about 1.2% per year since 2002, whereas its inflation rate has held steady at around 1.4% per year. Its banknotes were available in denominations of 20, 50, 100, 200, and 500 francs.
The French franc was the national currency of France prior to its adoption of the euro.

French Franc (F)

GBP is the abbreviation for the British pound sterling, the official currency of the United Kingdom and its territories.

GBP is the abbreviation for the British pound sterling, the official currency of the United Kingdom, the British Overseas Territories of South Georgia, the South Sandwich Islands, and British Antarctic Territory and the U.K. crown dependencies the Isle of Man and the Channel Islands. Many other currencies are pegged to the British pound, including the Falkland Islands pound, Gibraltar pound, Saint Helenian pound, Jersey pound (JEP), Guernsey pound (GGP), Manx pounds, Scotland notes. and Northern Ireland notes. GBP is the abbreviation for the British pound sterling, the official currency of the United Kingdom, the British Overseas Territories of South Georgia, the South Sandwich Islands, and British Antarctic Territory and the U.K. crown dependencies the Isle of Man and the Channel Islands. In addition to the United Kingdom, the British pound has previously served as currency in many of the colonies of the British Empire, including Australia, New Zealand, and Canada. The most common currency pairs involving the British pound are the euro (EUR/GBP) and the U.S. dollar (GBP/USD).

A universal currency converter is an online application that enables the easy conversion of currency values based on present-day exchange rates.

A universal currency converter is a software application or website that provides for the easy conversion of currency values based on present-day exchange rates. While travelers might use online currency converters to determine how much of their home currency they should travel with, the actual exchange of currencies will generally happen at a currency exchange, which could differ. Such currency converters can easily be found for free on the Internet, and can quickly convert the value of one currency to another, such as dollars to euros, or euros to pounds, and back again.
Currency conversion is of practical use to tourists who travel abroad, to businesses who do business overseas or are involved in imports and exports, and to FX traders. Universal currency converters are almost always free when found online, and they're especially useful for travelers looking to figure out how much of their own home currency will stretch or contract when visiting a new foreign country. A universal currency converter is an app or web tool that allows for the quick conversion of any currency into any other currency.

Universal Currency Converter

The Greek Drachma is the former basic unit of currency in Greece. The Greek Drachma was an ancient currency unit used in many Greek city-states.

Greek Drachma (GRD) and United States Dollar (USD) Currency Exchange Rate Conversion Calculator

Table of Contents
What Is the Greek Drachma? The Bottom Line
The Greek drachma was an ancient currency unit used in many Greek city-states and was the basic unit of currency in Greece until 2001 when it was replaced by the euro, which is now the only official currency of Greece. The National Bank of Greece issued drachma banknotes from 1841 to 2001, after which time Greece joined the European Union (EU) and adopted its common currency, the euro. The drachma was reintroduced in 1832, following the creation of the modern country of Greece, where it replaced the phoenix, the first currency of modern Greece introduced in 1828. The Greek drachma was the official currency of Greece for most of its history; from antiquity to being reintroduced in the 1800s until it was replaced by the euro in 2001.

Greek Drachma

IEP (Irish Pound) was the national money of Ireland until 2002 when it was replaced by the euro.

The IEP (Irish Pound) was the foreign exchange (FX) currency symbol for the Irish pound, the national currency of Ireland until 2002. The Irish term for the Irish pound is the _punt Éireannach._
The Irish Pound (IEP) was the national currency of Ireland, which was replaced by the euro in 2002 as part of the EU common monetary union, fixing the value of 1 euro at the rate of 0.787564 Irish pounds. The IEP (Irish Pound) was the foreign exchange (FX) currency symbol for the Irish pound, the national currency of Ireland until 2002. Ireland was one of the earliest countries to adopt the euro on the first of January 1999, fixing the value of the Irish pound to the euro at the rate of 0.787564 Irish pounds. The Irish pound was composed of 100 pennies, called _pingin_ in Irish, and often appeared with the symbol £ or IR£ to set it apart from other currencies such as the British pound.

IEP (Irish Pound)

An interest rate differential (IRD) measures the gap in interest rates between two similar interest-bearing assets.

An interest rate differential (IRD) weighs the contrast in interest rates between two similar interest-bearing assets. Based on the interest rate parity, a trader can create an expectation of the future exchange rate between two currencies and set the premium, or discount, on the current market exchange rate futures contracts. An interest rate differential (IRD) weighs the contrast in interest rates between two similar interest-bearing assets. The IRD is also a key component of the carry trade, a trading strategy that involves borrowing at a low-interest rate and investing the proceeds in an asset that provides a higher rate of return. The IRD is used in the housing market to describe the difference between the interest rate and a bank's posted rate on the prepayment date for mortgages.

Interest Rate Differential (IRD)

Legal tender describes any official medium of payment recognized by law that can be used to extinguish a public or private debt or meet a financial obligation.

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Legal tender is anything recognized by law as a means to settle a public or private debt or meet a financial obligation, including tax payments, contracts, and legal fines or damages. Proponents of legal tender laws argue that markets generally fail to produce the optimal type, quality, and quantity of money and that legal tender enhances the usefulness of money as a means to reduce transaction costs. Currently, the U.S. dollar functions as money and legal tender in the RMI and will continue to do so alongside the new legal tender when the government begins issuing sovereigns. A check, or a credit swipe, is not legal tender; it functions as a money substitute and merely represents a means by which the holder of the check can eventually receive legal tender for the debt. By default (and design), legal tender laws prevent the widespread adoption of anything other than the existing legal tender as money in the economy.

Legal Tender

A Lewes pound is a local currency used in Lewes, East Sussex, United Kingdom, as part of an initiative to encourage consumers to shop locally.

The Lewes pound is a community currency for use by British residents of Lewes, East Sussex. A Lewes pound is a local complementary currency for the community of Lewes, East Sussex, in the United Kingdom. Proponents hope that by using Lewes pounds, consumers can help decrease carbon emissions by cutting down on the number of goods that are transported long distances to be purchased in Lewes. The Lewes pound is a community currency for use by British residents of Lewes, East Sussex. Lewes pounds help stimulate bioregionalism because local currency emphasizes local products over those that were grown or created thousands of miles away.

Lewes Pound

The Linden dollar is the official currency of a virtual world Second Life. 

Second Life GDP totals $500 million (2015)

The Linden dollar is the virtual currency used in the online world, _Second Life;_ and named after the game's creator, Linden Lab. They can also be exchanged with US dollars outside the platform, or for virtual goods and services within the platform,
Linden Labs regulates their transfer and can exert full power over the value of a user's Linden dollars, even revoking them for no reason. Because Linden dollars has a determinable value in the real market, the Financial Crimes Enforcement Network (FinCen), a bureau of the United States Department of the Treasury, recognized Linden Money as a convertible centralized virtual currency in 2013. The Linden dollar is the virtual currency used in the online world, _Second Life;_ and named after the game's creator, Linden Lab. Linden dollars can be bought using U.S. dollars and certain other currencies on the exchange service provided by Linden Lab.

Linden Dollar

Nominal Effective Exchange Rate (NEER) is the unadjusted weighted average value of a currency relative to other major currencies traded within an index. 

The nominal effective exchange rate (NEER) is an unadjusted weighted average rate at which one country's currency exchanges for a basket of multiple foreign currencies. A higher NEER coefficient (above 1) means that the home country's currency is usually worth more than an imported currency, and a lower coefficient (below 1) means that the home currency is usually worth less than the imported currency. The nominal effective exchange rate (NEER) is an unadjusted weighted average rate at which one country's currency exchanges for a basket of multiple foreign currencies. If a domestic currency increases against a basket of other currencies inside a floating exchange rate regime, NEER is said to appreciate. The nominal exchange rate is the amount of domestic currency needed to purchase foreign currency.

Nominal Effective Exchange Rate (NEER)

In international markets, the difference in the interest rates of two distinct economic regions.

The net interest rate differential (NIRD), in international currency (forex) markets, is the total difference in the interest rates of two distinct national economies. While the carry trade does earn interest on the net interest rate differential, a move in the underlying currency pair spread could easily fall (as it has historically) and risk wiping out the benefits of the carry trade leading to losses. The net interest rate differential is the difference in any interest earned and any interest paid while holding the currency pair position after accounting for fees, taxes, and other charges. The net interest rate differential is the after-tax, after-fee difference in any interest earned and any interest paid while holding the currency pair position. A carry trade is a strategy that foreign exchange traders use in an attempt to profit from the difference between interest rates, and if traders are long a currency pair, they may be able to profit from a rise in the currency pair.

Net Interest Rate Differential (NIRD)

The NOK (Norwegian Krone) is the national currency of Norway, which began circulation in 1875.

The Norwegian _krone_ (NOK) is the official currency of Norway. The Norwegian krone (NOK), which began circulation in 1875, is the official currency of Norway. The Norwegian _krone_ (NOK) is the official currency of Norway. In 1992, the central bank moved away from a fixed exchange rate, allowing the currency to float based on the foreign currency exchange rate. In 1939 the country's currency was pegged to the U.S. dollar (USD), but during the German occupation of Norway in the Second World War, it was pegged to the Reichsmark.

Norwegian Krone (NOK)

A non-deliverable swap (NDS) is a currency swap between major and minor currencies that is restricted or not convertible. 

A non-deliverable swap (NDS) is a variation on a currency swap between major and minor currencies that is restricted or not convertible. The key variables in a NDS are:
the notional amounts (that is, the amounts of the transaction)
the two currencies involved (the non-deliverable currency and the settlement currency)
the settlement dates
the contract rates for the swap, and
the fixing rates and dates – the specific dates on which the spot rates will be sourced from reputable and independent market sources.
Consider a financial institution – let’s call it LendEx – based in Argentina, that has taken a five-year US$10 million loan from a U.S. lender at a fixed interest rate of 4% per annum payable semi-annually. _Contract rates for the swap (F)_ – For the sake of simplicity, say a contract rate of 6 (pesos per dollar) for the interest payments and 7 for the principal repayment.
_Fixing rates and dates (S)_ – Two days before the settlement date, sourced at 12 noon EST from Reuters.
The methodology for determining the NDS follows the following equation:
> Profit = (NS – NF) / S = N (1 – F/S)
Here’s how the NDS works out in this example. A non-deliverable swap (NDS) is a type of currency swap that is paid and settled in U.S. dollar equivalents rather than the two currencies involved in the swap itself. It therefore enters into a currency swap with an overseas counterparty on the following terms:
_Notional amounts (N)_ – US$400,000 for interest payments and US$10 million for the principal repayment.
_Currencies involved_ – Argentine peso and U.S. dollar.

Non-Deliverable Swap (NDS)

The now-defunct noon rate was the Canadian Dollar-U.S. Dollar exchange rate based on trading at noon and published each day by the Bank of Canada.

Bank of Canada Announces Future Changes to Its Published Foreign Exchange Rate Data

The noon rate was a forex term used by the Bank of Canada (BOC) publishing a specific instance of the foreign exchange rate between the U.S. dollar and the Canadian dollar (CAD), i.e., the USD/CAD rate. The noon rate was a forex term used by the Bank of Canada (BOC) publishing a specific instance of the foreign exchange rate between the U.S. dollar and the Canadian dollar (CAD), i.e., the USD/CAD rate. Indeed, the BOC had announced in February 2016 that it would be changing its exchange rate publication methodology.﻿﻿ The new rate reflects a broad daily average rather than the point-in-time value of the noon rate, and is published at 4:30 p.m. daily. The BOC also published a closing rate at 4:30 p.m.﻿﻿ Effective April 28, 2017, the BOC abandoned both these rates and changed over to publishing a single indicative daily rate per CAD currency pair. The noon rate had been widely used as a benchmark exchange rate by companies and others needing to make foreign exchange calculations in USD/CAD, and was retired in 2017, replaced by a single indicative rate.

Noon Rate

An online currency exchange is an internet-based platform that facilitates the exchanging of currencies between countries in a centralized setting.

An online currency exchange, or electronic forex exchange, is an internet-based platform that facilitates the exchange of currencies between countries. An online currency exchange, or electronic forex exchange, is an internet-based platform that facilitates the exchange of currencies between countries. An online currency exchange is, as is implied in the term, an online system for exchanging one country's currency for another, whether it be at a governmental level (between countries) or at a corporate level (business to business). Some countries have monetary policies that place restrictions on the convertibility of their money, even though currency convertibility is essential in a global economy, and a currency that is nonconvertible poses significant barriers to trade and tourism.
Some brokers may not handle the exchange of currencies for a contract for differences (CFD). An online currency exchange is a centralized online platform for changing one currency into another.

Online Currency Exchange

A principal exchange rate linked security (PERL) is a type of investment in debt that pays a yield that is linked to foreign exchange rates.

A principal exchange rate linked security (PERL) is a type of investment in debt that pays interest semiannually and has a yield that is linked to foreign exchange rates. PERLs are typically denominated in U.S. dollars, and their interest is paid in U.S. dollars, but their repayment value is determined by the exchange rate between the dollar and a specific foreign currency within a certain time frame.
The principal payments increase as the foreign currency appreciates relative to the U.S. dollar. A PERL is a type of bond that is bought in U.S. dollars and pays interest in U.S. dollars but the final repayment amount is determined in a second currency.
The yield on the PERL will decrease if the U.S. dollar appreciates against the other currency. With a reverse PERL, the principal payments increase as the base currency appreciates relative to the foreign currency, and the payments decrease with the depreciation of the base currency. That makes a PERL a type of dual currency bond which pays the coupon and the principal in the base currency while having the principal payment vary according to a set redemption formula.

Principal Exchange Rate Linked Security (PERL)

Quid is a nickname for the British pound, also called the pound sterling, the national currency of the United Kingdom.

Quid is a slang expression for the British pound sterling, or the British pound (GBP), which is the currency of the United Kingdom (U.K.). Quid is a slang expression for the British pound sterling, or the British pound (GBP), which is the currency of the United Kingdom (U.K.). Quid, as it describes one pound sterling, is thought to have first come into use sometime in the late 17th century, but no one is quite certain why this word became synonymous with the British currency. The U.K. is made up of England, Northern Ireland, Scotland, and Wales.
Historians trace the pound sterling all the way back to 775 A.D. when Anglo-Saxon kings used silver pennies, called sterlings, as currency. In addition to the United Kingdom, the British pound has previously served as currency in many of the colonies of the British Empire including Australia, New Zealand, and Canada.

Quid

A sawbuck resembles the Roman numeral X and is slang for the $10 bill. Interbank forex dealers use the term to signify a transaction of $10 million. 

Conrad Weiser's journal of a tour to the Ohio, August 11-October 2, 1748

Table of Contents
What Is a Sawbuck?
Understanding Sawbucks
History of the Sawbuck
Sawbucks and the $10 Bill
Sawbuck Portraits
The Bottom Line Historically, it has referred to a U.S. $10 bill, reportedly because two ornate Roman numeral Xs (resembling sawbucks) were present on the backside of the 10-dollar bill issued during the Civil War. Many believe this banknote with the Roman X is the origin of the use of the term sawbuck for the 10-dollar bill. Currently, the term is commonly used by interbank forex dealers to signify a transaction in the amount of $10 million U.S. dollars (USD).
Sawbuck is an old-fashioned slang term for a $10 bill. The first paper money in the U.S. chose to use Roman numerals on bills and banknotes, which meant that X represented the number 10.

Sawbuck

SEC Form TA-1 is an official form required to register as a transfer agent, or to make changes to an existing registration.

SEC Form TA-1 is a form used to officially apply for or amend registration as a transfer agent. It is illegal for a transfer agent to perform any transfer agent functions without being registered.﻿﻿﻿ A transfer agent must apply for registration on SEC Form TA-1 with their appropriate regulatory authority (ARA), and the registration must then become active prior to conducting any business with securities. Section 17A(c) of the Securities Exchange Act of 1934 requires that transfer agents be registered with the SEC, or if the transfer agent is a bank, with a bank regulatory agency. No self-regulatory organization (SRO) oversees transfer agents, therefore the SEC has rules and regulations for all registered transfer agents. Because transfer agents serve both issuing companies and security holders, efficient transfer agent operations are critical to the successful completion of secondary trades.

SEC Form TA-1

A sectoral currency is a medium of exchange that only has value in a limited marketplace.

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A sectoral currency is a medium of exchange that only has value in a limited marketplace in terms of geography or purpose. Local currencies, also known as a community currency, and local exchange trading systems (LETS) are examples of sectoral currency in use. Although purchased with standard currency either indirectly or directly, loyalty program rewards and gift cards are often considered sectoral currency because they can only be redeemed in specific stores or used to purchase certain products or services, and are most often considered to be a form of scrip. Sectoral currencies are a type of complementary currency, and include regional or local currency, which only has value in specified locations within a limited geographic region. Sectoral currency is a form of complementary currency that is intended only for local or community use, or in exchange for a particular product or purpose.

Sectoral Currency

SKK is the currency abbreviation for the Slovak koruna (SKK), the currency for Slovakia from February 8, 1993, to January 1, 2009. 

SKK is the currency abbreviation for the Slovak koruna (SKK), the currency for Slovakia from February 8, 1993, to December 31, 2008. From then until the end of 2008, the country‘s currency was the modern Slovak koruna (Sk).
The Slovak koruna denominations were the 10 Sk, 5 Sk, 2 Sk, 1 Sk, 50 hal, 20 hal, and 10 hal coins; and the 5000 Sk, 1000 Sk, 500 Sk, 200 Sk, 100 Sk, 50 Sk, and 20 Sk banknotes. When the Czechoslovak Federation split in two in 1993 to form two new countries, the Czech Republic and Slovakia, the Czechoslovak koruna also split, introducing two new currencies: the Czech koruna and the Slovak koruna. In January 1996, NBS began to publish the exchange rates of selected currencies on a monthly basis, and in December 1998 the three-month and six-month forward rates of the Slovak koruna against the German mark (later the euro) and the U.S. dollar were published. SKK is the currency abbreviation for the Slovak koruna (SKK), the currency for Slovakia from February 8, 1993, to December 31, 2008.

SKK (Slovak Koruna)

The Stroud pound a the local currency used in Stroud, Gloucestershire, United Kingdom, designed as part of an initiative to stimulate the local economy.

Stroud Pound: A Local Currency to Map, Measure and Strengthen the Local Economy

The Stroud pound is a private currency introduced in the British town of Stroud, Gloucestershire, in September 2009. The Stroud pound is a private currency, which is a currency issued by a private firm or group to act as an alternative to a national currency. The Stroud pound is a local currency for the British community of Stroud, Gloucestershire. The Stroud pound is a private currency introduced in the British town of Stroud, Gloucestershire, in September 2009. Stroud pounds help stimulate bioregionalism because local currency emphasizes local products over those that were grown or created thousands of miles away.

Stroud Pound

The temporal method is a set of currency translation rules a company applies to its integrated foreign businesses to compute profits and losses.

The temporal method (also known as the historical method) converts the currency of a foreign subsidiary into the currency of the parent company. When a company has operations or subsidiaries in a country other than where the parent company is domiciled, the parent company must convert the values on the foreign entity's financial statements back into the parent company's currency in order to calculate its profits and losses and generate the financial statements. In this instance, the parent company of XYZ would use the temporal method to translate XYZ's financial statements back into the currency used by the parent company. This technique of foreign currency translation is used when the local currency of the subsidiary is not the same as the currency of the parent company. Since all foreign exchange gains and losses are reported in net earnings of the parent company, the result can be an increase in the volatility of the parent company's earnings if it has substantial income coming from subsidiaries in different countries.

Temporal Method

Transfer risk is the risk that a local currency will not be convertible into a foreign currency owing to specific restrictions or changes in value.

Transfer risk is defined as the threat that a local currency can't be converted into another nation's currency due to changes in nominal value or because of specific regulatory or exchange restrictions. A banking institution may establish an allocated transfer risk reserve for specified international assets when required by the Board, according to the Federal Deposit Insurance Corporation (FDIC).
Suppose banking regulations in a country prevent a business from withdrawing funds in a foreign bank for several months after the sale has been completed. Transfer risk, also known as conversion risk, may arise when a currency is not widely traded and capital controls prevent an investor or business from freely moving currency in or out of a country. When the time comes for two international companies to do business, the choice of currency in an international transaction will often depend on the needs and desires of each individual business. Companies and corporations should always consider transfer risk issues when doing business with foreign companies and take the necessary steps to minimize the effects of these risks.

Transfer Risk

The trillion-dollar coin is a proposed platinum coin with a face value of $1 trillion, which could be used to reduce the national debt.

Treasury Won't Mint Platinum Coin to Avoid Debt Ceiling

The term "trillion-dollar coin" refers to a theoretical concept whereby a government could mint a physical coin out of platinum with a face value of $1 trillion, which could then be used to reduce the national debt. The idea of minting a trillion-dollar coin to reduce the national debt gained widespread media attention during the debates surrounding raising the debt ceiling, which occurred between 2011 and 2013. Although distributing such a high-value coin would presumably produce inflation if it were exchanged throughout the wider economy, proponents of the trillion-dollar coin argued that this would not be the case if the Mint only distributed this coin to the Federal Reserve. The Federal Reserve could then deposit the coin in the Treasury, thereby reducing the national debt and postponing or eliminating the need to raise the U.S. debt ceiling. The trillion-dollar coin is a theoretical accounting strategy for reducing the federal debt, first proposed to circumvent congressional lock-up over raising the debt ceiling.

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