The Maltese Lira was the official currency of the island nation of Malta from 1825 until 2008. The lira was subdivided into 100 cents. The currency was replaced by the euro in 2008. Do they speak English in Malta? Yes, they speak English in Malta. In fact, English is one of the official languages of … Read more
A dealing desk is a type of market maker that provides liquidity to forex traders by filling orders from its own inventory of currency pairs. Dealing desks are also sometimes referred to as “market makers.” Dealing desks make money by charging a spread on each currency pair that they quote. For example, if the dealing … Read more
The Polish zloty is the official currency of Poland. The zloty is subdivided into 100 groszy (singular: grosz). The word “złoty” means “golden”, and the word “grosz” means “small”. The Polish zloty was first introduced in 1873, replacing the Polish mark. The zloty was pegged to the German mark from the start, and remained pegged … Read more
The term “loonie” is used to refer to the Canadian dollar, which is the currency of Canada. The term is derived from the Canadian one-dollar coin, which features a loon on the reverse side. The loonie has been used as the nickname for the Canadian dollar since 1987. The Canadian dollar is a major currency, … Read more
The Haitian Gourde is the official currency of Haiti. The gourde was first introduced in 1813 and has been the country’s currency ever since. The gourde is subdivided into 100 centimes and is pegged to the US dollar at a rate of 5 gourdes to 1 dollar. The gourde was originally pegged to the French … Read more
The open position ratio is the percentage of all open positions that are held by a particular currency pair. For example, if the EUR/USD pair is currently trading at 1.1700 and there are 100,000 EUR/USD contracts open, then the open position ratio for the EUR/USD would be 100,000/1.1700 = 85.47%. What is closed position in … Read more
The forex spot rate is the current price in the market for a currency pair. The spot rate is the most current price that a currency pair can be bought or sold for and is the price used in forex trading. What is the most successful trading strategy? There is no one “most successful” trading … Read more
Major, Minor, and Exotic Examples. What are Currency Pairs? Major, Minor, and Exotic Currency Pairs What are exotics in trading? Exotics are financial instruments that are not commonly traded. They are typically from countries with emerging economies or that have less developed financial markets. Some examples of exotics include the Mexican peso, the Russian ruble, … Read more
The Honduran lempira is the official currency of Honduras. It is subdivided into 100 centavos and is symbolized by HNL. The lempira was introduced in 1931, replacing the peso at a rate of 1 lempira = 100 pesos. The lempira is named after Lempira, a 16th-century indigenous leader who fought against the Spanish conquest. What … Read more
A currency board is a monetary authority which is required to maintain a fixed exchange rate with a foreign currency. This foreign currency is known as the anchor currency. A currency board only issues domestic currency in exchange for the anchor currency, at a fixed rate. It cannot print more money to bail out commercial … Read more
