1. A method of stabilizing a country's currency by fixing its exchange rate to that of another country. 2. A practice of and investor buying large amounts of an underlying commodity or security close to the expiry date of a derivative held by the investor. This is done to encourage a favorable move in market price. |||1. Most countries peg their exchange rate to that of the United States. 2. An investor writing a put option would practice pegging so that he or she will not be required, due to lowering prices, to purchase the underlying security or commodity from the option holder. The goal is to have the option expire worthless so that the premium initially received by the writer is protected.
The nickname for the U.S. Dollar/French Franc currency pair prior to France's conversion to the Euro. Since the franc was replaced by the euro, there is no modern equivalent to the Paris Pair. |||The franc was France's national currency until the euro was introduced in 1999. Euro coins and notes replaced the franc entirely during the first two month of 2002. The U.S. dollar/French franc currency pair became known as the Paris Pair.
The currency abbreviation or currency symbol for the Pakistani rupee (PKR), the currency of Pakistan. The Pakistani rupee is made up of 100 paisa and is often represented by the symbol Rp. Also known as rupees, rupaya, or rupaye. |||When Pakistan became independent from Britain in 1947, the Pakistani rupee replaced the Indian rupee. The rupee was decimalized in 1961, replacing the 16 annas that the rupee was originally divided into with 100 paisa.
The smallest price change that a given exchange rate can make. Since most major currency pairs are priced to four decimal places, the smallest change is that of the last decimal point - for most pairs this is the equivalent of 1/100 of one percent, or one basis point. |||For example, the smallest move the USD/CAD currency pair can make is $0.0001, or one basis point. The smallest move in a currency does not always need to be equal to one basis point, but this is generally the case with most currency pairs.
In currencies, this is the abbreviation for the Philippine Peso. |||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 Philippine peso (PHP), the currency of the Philippines. The Philippine peso is made up of 100 centavo or sentimo and is often represented with a symbol that looks like the capital Latin letter "P" with two horizontal slashes through the circular top half, a "P" with one horizontal slash, or just P. |||The peso was originally created in 1852 as a replacement for the Spanish dollar. Through revolution, colonialism, and war, the peso survived. However, it did suffer many devaluations and demonetizations. The Central Bank of the Philippines was created in January of 1949, and the colonial pesos which were being hoarded rather than surrendered were demonetized in 1964. From 1964 on, the exchange rate has been allowed to float. It has undergone many more devaluations since being allowed to float.
In currencies, this is the abbreviation for the Papua New Guinea Kina. |||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 Papua New Guinea kina (PGK), the currency of Papua New Guinea. The Papua New Guinea kina is made up of 100 toea and is often represented with the symbol K. The name "kina" comes from the kina shell that was historically used as a currency in the region. |||In 1975, the Papua New Guinea kina replaced the Australian dollar (AUD) at par. Both the AUD and the kina traded as legal tender the following year, until January of 1976 when the AUD was no longer accepted as currency in the country.
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