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Currency exchange

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Currency exchange

Greek drachma

Financial services; Currency exchange

The official currency of Greece before it was replaced by the euro in 2001 after the country adopted the European common currency. As a currency, the drachma dates back to ancient Greece when it was ...

negative carry pair strategy

Financial services; Currency exchange

A foreign exchange strategy where investors long a low-interest currency and short a high-interest currency. This is a very risky trade to make, and can result in significant losses if the reserve is ...

choice market

Financial services; Currency exchange

A rare scenario where the spread between the bid and ask prices is equivalent to zero, which implies that a currency can be bought or sold at the same price.

adjustable peg

Financial services; Currency exchange

An exchage rate policy where a country's national currency is fixed to a major currency like the U.S. dollar, but where the rate can be changed within a defined interval.

micro-lot

Financial services; Currency exchange

An order for 1000 units of a base currency, namely the currency being bought or sold.

authorized forex dealer

Financial services; Currency exchange

A financial institution that has been authorized to be a dealer in the trading of foreign currencies.

rand

Financial services; Currency exchange

The basic unit of money in South Africa.

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