A trading market that is typically only accessible by banks and financial institutions. The interdealer market is an over-the-counter market that is not restricted to a physical location; rather, it is a global market where representatives of banks and financial institutions execute trades through their trading terminals. |||The foreign exchange interdealer market is one of the better-known interdealer markets and is characterized by large transaction sizes and tight bid/ask spreads. Currency transactions in the interdealer market can be either speculative - initiated with the sole intention of profiting from a currency move - or customer-driven (by an institution's corporate clients such as exporters and importers, for example).
The rate of interest charged on short-term loans made between banks. Banks borrow and lend money in the interbank market in order to manage liquidity and meet the requirements placed on them. The interest rate charged depends on the availability of money in the market, on prevailing rates and on the specific terms of the contract, such as term length. |||Banks are required to hold an adequate amount of liquid assets, such as cash, to manage any potential withdrawals from clients. If a bank can't meet these liquidity requirements, it will need to borrow money in the interbank market to cover the shortfall. Some banks, on the other hand, have excess liquid assets above and beyond the liquidity requirements. These banks will lend money in the interbank market, receiving interest on the assets. There is a wide range of published interbank rates, including the LIBOR, which is set daily based on the average rates on loans made within the London interbank market.
The world's largest developer and published of international standards. The ISO is a network of the national standards institutes of 163 countries, coordinated by a Central Secretariat in Geneva. For example, in a currency context, ISO 4217 is the international standard established by the ISO that specifies the structure for the three-letter codes used to describe the many currencies used around the world. |||The ISO 4217 Code for a currency generally consists of the country's two-character country code (ISO 3166-1 alpha-2) plus an additional character referring to its currency unit. For example, the U.S. dollar is represented by USD, the Japanese yen by JPY, and so on.
An international organization created for the purpose of: 1. Promoting global monetary and exchange stability.2. Facilitating the expansion and balanced growth of international trade.3. Assisting in the establishment of a multilateral system of payments for current transactions. |||The IMF plays three major roles in the global monetary system. The Fund surveys and monitors economic and financial developments, lends funds to countries with balance-of-payment difficulties, and provides technical assistance and training for countries requesting it.
The internationally standardized three-letter abbreviation for a country's currency. |||For example, the ISO Currency Code for the United States Dollar would be USD.
The currency abbreviation or the currency symbol for the Iceland Krona (ISK), the currency of Iceland. The krona is divided into 100 aurar and is often presented with the symbol kr. This currency has earned the nickname "Icelandic Crown" in the financial markets because of the word krona's relation to the latin word corona, meaning crown. |||The krona was first seen in 1922 in coin form, followed by notes in 1929. The currency was revaluated in 1981, and only whole kronur have been used since 2002. Currency trading was suspended during the Icelandic banking collapse in 2008.
The currency abbreviation or the currency symbol for the Iceland króna (ISK), the currency of Iceland. The króna is divided into 100 aurar and is often presented with the symbol kr. This currency has earned the nickname "Icelandic crown" in the financial markets because the english translation is "crown", and because of króna's relation to the latin word corona, meaning crown. |||The króna was first seen in 1922 in coin form, followed by notes in 1929. The currency was revaluated in 1981, and only whole krónur (plural of króna) have been used since 2002. Currency trading was suspended during the Icelandic banking collapse in 2008.
The currency abbreviation or currency symbol for the Iranian Rial is U+FDFC, the currency for Iran. The rial is made up of 100 dinar but actually has no official symbol. U+FDFC is the standard keyboard position denoting the currency, which is also quoted in a superunit of 10 known as the toman. |||The rial was first seen in 1798 in coin form but was replaced by the quiran in 1825. It was instituted again in 1932, and for decades the highest value note printed was the 10,000 rial bill. 20,000 rial bills began circulation in 2003, followed by 50,000 rial bills in 2007.