The currency abbreviation or currency symbol for the Peruvian nuevo sol (PEN), the currency of Peru. The Peruvian nuevo sol is made up of 100 céntimo and is often represented by the symbol S/. The word "sol" is Spanish for "sun," and its use here is meant to give power to the Peruvian people. |||The high inflation in Peru during the 1980's forced the country to revalue their currency. The nuevo sol replaced the previous currency, the inti, at a rate of 1,000,000 to 1. A currency referred to as the old sol was used before the inti. It was replaced by the inti for the same reason the nuevo sol replaced the inti - hyperinflation.
An investment trust that holds income-producing assets and trades units like a stock on an echange. Income trusts attempt to hold assets which will generate a steady flow of income, such as lease payments from an office building. The income is passed on to the unit holders. Income trusts give out a high portion of profits to unit holders in a similar way dividends are given out by companies. Because the cash goes directly to holders, after some costs, income trusts have some tax advantages, such as avoiding double taxation. Some of the most popular income trusts are real estate investment trusts (REITs) and natural resource trusts. The main attraction of income trusts is their ability to generate constant cash flows for investors.
A variation of the Black-Scholes model that allows for the valuation of options on futures contracts. In 1976, Fisher Black, one of the developers of the Black-Scholes model (introduced in 1973), demonstrated how the Black-Scholes model could be modified in order to value European call or put options on futures contracts.
In currencies, this is the abbreviation for the Pakistani Rupee. |||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.
A class of shares offered by a dual purpose fund that has little room for capital appreciation but gives the holder a portion of all income earned in the portfolio. This type of share typically attracts those investors looking for a steady stream of income rather than capital appreciation. The holders receive their portion of all income created in the portfolio plus any additional returns on the stocks' par value at the time of the fund's dissolution.
The currency abbreviation for the Qatari riyal (QAR), the currency for Qatar, an Arab emirate located along the coast of the Arabian Peninsula. The Qatari riyal is made up of 100 dirham and is often presented with the symbol QR in English. The riyal has been pegged in practice with the U.S. dollar since 1980 at a rate of 1 U.S. dollar to 3.64 Qatari riyal; the rate became official in 2001. |||The Qatari riyal replaced the Qatar and Dubai riyal in 1973, when Dubai entered into the United Arab Emirates. At this time, Qatar began to issue its riyal separately. The joint currency came into force in 1966, at which time the previous currency, the Indian rupee, was replaced due to India's devaluation of its currency.
A type of mutual fund that emphasizes current income, either on a monthly or quarterly basis, as opposed to capital appreciation. Such funds hold a variety of government, municipal and corporate debt obligations, preferred stock, money market instruments, and dividend-paying stocks. Share prices of income funds are not fixed; they tend to fall when interest rates are rising and to increase when interest rates are falling. Generally, the bonds included in the portfolios of these funds are of investment grade. The other securities are of sufficient credit quality to assure a preservation of capital. There are two popular high-risk funds that also focus mainly on income: high-yield bond funds and bank loan funds. The former invests primarily in corporate "junk" bonds and the latter in floating-rate loans issued by banks or other financial institutions.
A model of price variation over time of financial instruments such as stocks that can, among other things, be used to determine the price of a European call option. The model assumes that the price of heavily traded assets follow a geometric Brownian motion with constant drift and volatility. When applied to a stock option, the model incorporates the constant price variation of the stock, the time value of money, the option's strike price and the time to the option's expiry.Also known as the Black-Scholes-Merton Model. The Black Scholes Model is one of the most important concepts in modern financial theory. It was developed in 1973 by Fisher Black, Robert Merton and Myron Scholes and is still widely used today, and regarded as one of the best ways of determining fair prices of options.There are a number of variants of the original Black-Scholes model.
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