A cash-settled, short-term forward contract on a thinly traded or non-convertible foreign currency, where the profit or loss at the time at the settlement date is calculated by taking the difference between the agreed upon exchange rate and the spot rate at the time of settlement, for an agreed upon notional amount of funds. |||All NDFs have a fixing date and a settlement date. The fixing date is the date at which the difference between the prevailing market exchange rate and the agreed upon exchange rate is calculated. The settlement date is the date by which the payment of the difference is due to the party receiving payment.NDFs are commonly quoted for time periods of one month up to one year, and are normally quoted and settled in U.S. dollars. They have become a popular instrument for corporations seeking to hedge exposure to foreign currencies that are not internationally traded.
An unadjusted rate, value or change in value. This type of measure often reflects the current situation, such as the current price of a car, and doesn't make adjustments to reflect factors such as seasonality or inflation, which provide a more accurate measure in real terms. |||In most cases, value is measured in real terms rather than nominal terms, which make adjustments to give a more accurate measure.For example, if you buy a $900 bond and are paid $1,000 for it a year later, your rate of return is 11.1%. This is the nominal rate of return; it is unadjusted and reflects the return on your bond. However, to get a more accurate picture of the actual return, the rate needs to be adjusted for inflation because the purchasing power of the your money has likely changed over the one-year period. Therefore, if inflation for that year is 5%, the real rate of return is only 6.1% (11.1%-5%).
The unadjusted weighted average value of a country's currency relative to all major currencies being traded within an index or pool of currencies. The weights are determined by the importance a home country places on all other currencies traded within the pool, as measured by the balance of trade. |||The NEER represents the relative value of a home country's currency compared to the other major currencies being traded (U.S. dollar, Japanese yen, euro, etc.). A higher NEER coefficient (above 1) means that the home country's currency will usually be worth more than an imported currency, and a lower coefficient (below 1) means that the home currency will usually be worth less than the imported currency. The NEER also represents the approximate relative price a consumer will pay for an imported good.
The currency abbreviation or currency symbol for the Nepalese rupee (NPR), the currency of Nepal. The Nepalese rupee is made up of 100 paisa and is often represented by the symbol Rs or Rp. Nepal has three main currency exchange rates: the central bank rate (official), the private bank rate (more generous, but still legal), and the black market rate (set by shops and travel agents - more generous still, but illegal). |||First introduced in 1932, the Nepalese rupee replaced the Nepalese silver mohar at a rate of 2 mohar to 1 rupee. In 1993, the Neplaese rupee was pegged to the value of the Indian rupee.
A term used by the Bank of Canada to describe the foreign exchange rate between the U.S. dollar and the Canadian dollar. The rate is released by 12:45pm EST by the Bank of Canada on any given day, and is based on the trading that takes place from 11:59am to 12:01pm on that day.The noon rate is often used by companies as a benchmark for translating financial statements. |||For example, if a Canadian company has operations in the U.S., it can use the noon rate as the benchmark exchange rate for translation purposes. When accountants consolidate a company's financial statements, they will need to convert the U.S. dollars from U.S. operations into Canadian dollars which, in this particular example, will be done by using the noon rate quoted on the balance sheet date. Some companies believe that the noon rate is a better measure of currency translation, because all of the trades they make in the FX market take place during the business day, and not at the end of the day.
Any currency that is used primarily for domestic transactions and is not openly traded on a forex market. This usually is a result of government restrictions, which prevent it from being exchanged for foreign currencies. Also known as a "blocked currency". |||As the name implies, it is virtually impossible to convert a nonconvertible currency into other legal tender, except in limited amounts on the black market. When a nation's currency is nonconvertible it tends to limit the country's participation in international trade as well as distort its balance of trade.
In currencies, this is the abbreviation for the Oman Rial. |||The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion.
The currency abbreviation or currency symbol for the Oman rial (OMR), the currency of Oman. The Oman rial is made up of 1000 baiza. As of January 2005 it was the fourth highest-valued currency in the world when compared with the United States Dollar (USD) with an exchange rate of US$2.59 to 1 Oman rial. |||A multitude of currencies were used in the area before the rial Saidi replaced the Gulf rupee in 1970 at a rate of 21 rupees to 1 rial. This made the rial equivalent to the British pound (GBP). In 1973, the rial Saidi was replaced by the Omani rial.
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