A method used by monetary authorities to equalize the effects of foreign exchange transactions on the domestic monetary base by offsetting the purchase or sale of domestic assets within the domestic markets. The process limits the amount of domestic currency available for foreign exchange. |||Sterilized intervention is a way for a country to alter its debt composition without affecting its monetary base. It is used to counter undesirable exchange-rate movements. For example, a decrease in the value of a country's domestic currency would cause a debt instrument issued in a foreign country and denominated in that foreign country's currency to be made more expensive.
A form of monetary action in which a central bank or federal reserve attempts to insulate itself from the foreign exchange market to counteract the effects of a changing monetary base. The sterilization process is used to manipulate the value of one domestic currency relative to another, and is initiated in the forex market. |||For example, to weaken the U.S. dollar against another currency, the Fed would sell more U.S. dollars and buy the foreign currency. The increased supply of the U.S. dollar would lower the value of the currency. The Fed would do the opposite if it wanted to strengthen the U.S. dollar.
The currency abbreviation for the São Tomé & Príncipe dobra (STD), the currency for São Tomé & Príncipe. The São Tomé & Príncipe dobra is often presented with the symbol Db, and is made up of 100 cêntimos, although inflation has made cêntimos virtually worthless. |||The dobra replaced the previous currency of São Tomé & Príncipe, the escudo, at a rate of 1:1 in 1977. At this time, coins were struck in cêntimos and lower denomination dobras (one, two and five dobra coins ). Rampant inflation made these coins obselete and in 1997, sew coins were created with higher denominations (500, 1,000 and 2,000 dobra coins) to keep up with rising prices.
A representation of purchasing power parity published by The Economist that determines what a country's exchange rate would need to be in order for a Starbucks tall latte to cost the same as it does in the United States. Using this index, the purchasing power of each individual national currency can be reflected in the U.S.-dollar cost of a latte in that country. This can also be referred to as the "tall latte index." |||In theory, if currency markets function with proper efficiency, the price of an identical product, such as a Starbucks latte, should have an identical U.S.-dollar cost in any country. Therefore, if a latte costs significantly less in one country than another, this suggests that the country with the cheaper latte price has an undervalued currency.
An agreed-upon value for a transaction in a country's medium of exchange, such as the dollar or peso. A standard of value allows all merchants and economic entities to set uniform prices for goods and services. This standard is necessary in order to maintain a stable economy. |||Historically, gold has been used as a standard of value in many countries. The U.S. went off the gold standard domestically in 1934 and internationally in 1971. A floating rate of currency exchange is now used instead.
The equivalent to 100,000 units of the quote currency in a forex trade. A standard lot is similar to trade size. It is one of the three commonly known lot sizes; the other two are mini-lot and micro-lot. |||A standard lot represents 100,000 units of any currency, whereas a mini-lot represents 10,000 and a micro-lot represents 1,000 units of any currency. A one-pip movement for a standard lot corresponds with a $10 change. For example, if you wish to buy 100,000 U.S. dollars, then you are buying a standard lot with 100,000 units as your trade size.
The currency abbreviation for the Suriname dollar (SRD), the currency for Suriname. The Suriname dollar is made up of 100 cents and is presented with the symbol $. The coins of this currency are denominated in cents based on the previous currency, the guilder, which was also made up of 100 cents. |||The Suriname dollar was introduced as the official currency of Suriname in 2004, when it replaced the guilder at a rate of 1,000:1. The old coins continued to be used, but were worth a fraction of a dollar instead of a fraction of a guilder. With the exchange rate of 1,000:1, coins became 1,000 times more valuable overnight.
The currency abbreviation for the El Salvador colón (SVC), the currency for El Salvador from 1919 to 2001. The El Salvador colón was made up of 100 centavos, and was replaced by the U.S. dollar at a rate of 8.75:1 in 2001. |||The El Salvador colón was taken on as the official currency of El Salvador in 1919, when it replaced the peso at par. From 1919 to 1931, the colón was pegged to the U.S. dollar at 2 colónes to 1 U.S. dollar, after which its value was allowed to freely float against other currencies.
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