The Gambian dalasi is the official currency of the Gambia. It is subdivided into 100 bututs. The dalasi was introduced in 1971, replacing the Gambian pound at a rate of 1 dalasi = 10 shillings. What is GMD? GMD is an abbreviation for “Gain More Dollars”. GMD is a Forex trading strategy that is designed … Read more
The Brazilian Real (BRL) is the currency of Brazil. It is subdivided into 100 centavos. The Central Bank of Brazil is the central bank and the issuing authority. The real was introduced in 1994, replacing the cruzeiro real. The real is currently the fourth most traded currency in the world, after the United States dollar, … Read more
The Bahamian dollar is the official currency of the Bahamas. It is divided into 100 cents. The Bahamian dollar is pegged to the U.S. dollar. Who is on the Bahamian dollar bill? The Bahamas dollar bill is currently the only physical currency in circulation in the Bahamas. The obverse of the bill features a portrait … Read more
Overshooting occurs when price moves too far and too fast in one direction and then retraces back to the original level. This often happens in the forex market when a currency pair makes a strong move in one direction and then quickly reverses course. Overshooting can be caused by a number of factors, including economic … Read more
The Latvian Lats, also known as the “Lats” is the official currency of Latvia. It is subdivided into 100 santims. The Latvian Lats was introduced in 1922, replacing the Latvian Rublis. In Independent Latvia (1918-1940), the Latvian Lats was also the name of the currency. The Latvian Lats was re-introduced in 1993, replacing the Soviet … Read more
The base currency is the first currency in a currency pair. It is also the currency in which a country’s prices are denominated. For example, if you travel to France, you will need to exchange your currency for Euros. The Euro is the base currency in this instance. The base currency is also the currency … Read more
The Slovenian Tolar (SIT) was the official currency of Slovenia from 1991 until 2007, when it was replaced by the Euro. The Tolar was subdivided into 100 subunits, called stotinov. The symbol for the Tolar was “SIT”, and the ISO 4217 code was “SIT”. How do I buy bitcoins in Slovenia? In Slovenia, you can … Read more
The Nigerian Naira is the official currency of Nigeria. The Naira is subdivided into 100 kobo. The Central Bank of Nigeria is the country’s monetary authority, and issues the Naira. The Naira was introduced on 1 January 1973, replacing the Nigerian Pound at a rate of 2 Naira = 1 Pound. The Naira was decimalized … Read more
The Solomon Islands Dollar (SBD) is the official currency of the Solomon Islands. It is subdivided into 100 cents. The Solomon Islands Dollar is pegged to the Australian Dollar at a rate of 1 SBD = 1.05 AUD. Why is it called Solomon Islands? The name “Solomon Islands” was given to the country by British … Read more
A direct quote is a foreign exchange rate quoted as the domestic currency per unit of the foreign currency. In other words, it expresses how much of the foreign currency is needed to buy one unit of the domestic currency. For example, if the direct quote for the EUR/USD currency pair is 1.25, it means … Read more
