The currency abbreviation or currency symbol for the Iranian rial (IRR), the currency for Iran. The rial is made up of 100 dinar, and actually has no official symbol. The keyboard position U+FDFC denotes the currency when using the Unicode Standard. The rial 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.
The currency abbreviation or currency symbol for the Iraqi Dinar (IQD), the currency of Iraq. The dinar is made up of 1,000 fils and is often presented with the symbol (__). The dinar replaced the Indian rupee as the country's national currency, which is issued by the Central Bank of Iraq. |||The dinar was first seen in 1931 and was pegged with the British pound until 1959. It was pegged to the U.S. dollar thereafter, and the dinar was worth over $3 in U.S. currency until the Gulf War. The dinar devalued drastically at that point, but new currency was issued and this currency has been valued at a set rate by the International Monetary Fund.
The currency abbreviation or currency symbol for the Iraqi dinar (IQD), the currency of Iraq. The Iraqi dinar is made up of 1,000 fils. The dinar replaced the Indian rupee as the country's national currency, and is issued by the Central Bank of Iraq. |||The dinar was first seen in 1931 and was pegged with the British pound until 1959. It was pegged to the U.S. dollar thereafter, and the dinar was worth over $3 in U.S. currency until the Gulf War. The dinar devalued drastically at that point, but new currency was issued and this new currency has been valued at a set rate by the International Monetary Fund.
A form of arbitrage involving rearranging a bank's cash by borrowing from the interbank market, and re-depositing the borrowed money locally at a higher interest rate. The bank will make money on the spread between the interest rate on the local currency, and the interest rate on the borrowed currency. |||Inward arbitrage works because it allows the bank to borrow at a cheaper rate than it could in the local currency market. For example, assume an American bank goes to the Interbank market to borrow at the lower eurodollar rate, and then deposits those eurodollars at a bank within the US. The larger the spread, the more money that can be made.
The currency abbreviation or the currency symbol for the Jamacian dollar (JMD), the currency for Jamaica. The currency is made up of 100 cents and is often presented with the symbol J$ or JA$. The Jamaican dollar was also formerly used in the Cayman Islands. |||The Jamaican dollar was first seen replacing the Jamaican pound in 1969. At the time, both coins and notes were issued, but its value has fallen substantially since then, reaching new lows in early 2009. Many bills have been replaced by coins, and a $1000 note began circulating in 2000.
In the foreign exchange world, a collective term for the legions of Japanese housewives who resorted to currency trading in the first decade of the new millennium. With Japanese interest rates near zero percent for most of the decade, their motivation for currency trading was to increase the low returns on their portfolios. These homemaker-traders are also called "Mrs. Watanabes." |||Japanese housewives have had a discernible impact on currency markets. Bank of Japan officials said in 2007 that the housewives' trading activity helped to stabilize currency markets because of their tendency to buy on dips and sell into rallies. A significant amount of this trading was carried out through online margin accounts, which offered leverage of 20 to 100 times. Carry trades, which involve borrowing in low-interest rate currencies and investing in higher yield assets, were also a favored strategy for many of the Japanese housewives.
An annual symposium sponsored by the Federal Reserve Bank of Kansas City since 1978, and held in Jackson Hole, Wyoming, since 1981. The symposium focuses on an important economic issue that faces U.S. and world economies. Participants include prominent central bankers and finance ministers, as well as academic luminaries and leading financial market players from around the world. The Symposium proceedings are closely followed by market participants, as unexpected remarks emanating from the heavyweights at the Symposium have the potential to affect global stock and currency markets. |||The topic for the 2010 Symposium was "Macroeconomic Challenges: The Decade Ahead." Speakers included Federal Reserve chairman Ben Bernanke, ECB President Jean-Claude Trichet, and Kansas City Fed President Tom Hoenig.
The currency abbreviation or currency symbol for the Kenyan shilling (KES), the currency for Kenya. The Kenyan shilling is made up of 100 cents and is often presented with the symbol KSh. The Kenyan shilling is the strongest and most stable shilling in east Africa and is often used in unstable regions of Sudan and Somalia instead of local currencies. |||The Kenyan shilling was first seen replacing the East African shilling in 1966 in both coin and bill form. Many notes have since been replaced by coins, and larger denominations of bills have been put into circulation. A new set of bills was launched in 2003 to celebrate 40 years of Kenyan independence.