The currency abbreviation or currency symbol for the Bermudian dollar (BMD). The Bermudian dollar is made up of 100 cents, and is often presented with the dollar sign as BD$ to allow it to be distinguished from other currencies denominated in dollars, such as the U.S. dollar (USD). |||First introduced in 1970 to replace the Bermudian pound at a rate of 1 Bermudian pound for 100 pence. Given that the exchange rate at the time was 2.40 U.S. dollars = 1 British pound the change made 1 Bermudian pound = 1 U.S. dollar (240 pence to a pound). Since 1970, BMD has remained pegged at parity with the USD.
Any currency that is mainly used for domestic transactions and does not freely trade on a forex market (usually due to government restrictions). Also referred to as a "nonconvertible currency". |||It is very difficult (if not impossible) to convert the blocked currency into a freely traded one such as the U.S. dollar.
A slang term for the stock market in the United Kingdom. Bulldog market is usually used by non-U.K. residents. It is an allusion to the Great Britain's famous pooch the British bulldog. |||The term Bulldog market was used in business slang but has become widely accepted, much like the "Yankee market" refers to U.S. markets and "samurai market" refers to the market in Japan. Bulldog market is unrelated to the term "bull market" which describes a market on the rise.
A type of options strategy that is used when the investor expects a moderate rise in the price of the underlying asset. This strategy is constructed by purchasing one put option while simultaneously selling another put option with a higher strike price. The goal of this strategy is realized when the price of the underlying stays above the higher strike price, which causes the short option to expire worthless, resulting in the trader keeping the premium. |||This type of strategy (buying one option and selling another with a higher strike price) is known as a credit spread because the amount received by selling the put option with a higher strike is more than enough to cover the cost of purchasing the put with the lower strike. The maximum possible profit using this strategy is equal to the difference between the amount received from the short put and the amount used to pay for the long put. The maximum loss a trader can incur when using this strategy is equal to the difference between the strike prices and the net credit received. Bull put spreads can be created with in-the-money or out-of-the-money put options, all with the same expiration date.
The currency abbreviation for the Bhutanese ngultrum, the currency for Bhutan. The Bhutanese ngultrum is made up of 100 chhertum ("chetrums" before 1979) and is often presented with the symbol Nu. The word ngultrum is derived from the word "ngul" meaning "silver," in the Bhutanese Dzongkha language. Bhutanese ngultrum is controlled and issued by the Royal Monetary Authority of Bhutan. |||The Bhutanese ngultrum was first seen in 1974, when it replaced the Indian rupee at 1:1. Tikchungs were backed by rupees and were used as currency until the early 1970s. Due to an inability to properly back the Tikchungs with rupees, they were phased out and rupees were kept as the main currency until 1974. The name for the coins changed from chetrum to chhertum in 1979 when new coins of the same value were issued. As of 2008, the ngultrum can be interchanged with the Indian rupee, and Indian banknotes and coins freely circulate in Bhutan.
The currency abbreviation or currency symbol for the Bahamian dollar (BSD), the currency of the Bahamas. The Bahamian dollar is made up of 100 cents, and is often presented with the dollar sign as B$ to allow it to be distinguished from other currencies denominated in dollars, such as the U.S. dollar (USD). BSD is pegged to the U.S. dollar at parity; as a result, businesses in the Bahamas accept either currency. |||The Bahamian dollar replaced the British pound in 1966 at a rate of 7 shillings to 1 Bahamanian dollar. This rate was established based on parity with the U.S. dollar because the fixed exchange rate of the GBP/USD was 1 pound = 2.8 U.S. dollars. Due to this parity, the Bahamas operates under what is known as a bimonetary system, in which both the Bahamian dollar and the U.S. dollar are national currencies.
The currency abbreviation symbol for the Brazilian real (BRL), the currency for Brazil. The Brazilian real is made up of 100 centavos and is often presented with the symbol R$. The Brazilian real (plural reais) is regulated by the Central Bank of Brazil's (BCB) Monetary Policy Committee (COPOM). |||The Brazilian real was first adopted as the official currency in July 1994, replacing the Cruzeiro real at a rate of 1 real to 2750 cruzeiro real. This change was in accordance with the Plano Real ("Real Plan"). In 1994, the real was anchored to the U.S. dollar. This lasted until 1999, when inflationary pressures forced the real to partially float against the dollar.
A landmark system for monetary and exchange rate management established in 1944. The Bretton Woods Agreement was developed at the United Nations Monetary and Financial Conference held in Bretton Woods, New Hampshire, from July 1 to July 22, 1944. Even as World War II raged on, 730 delegates from the 44 Allied nations attended the conference. Major outcomes of the Bretton Woods conference included the formation of the International Monetary Fund and the International Bank for Reconstruction and Development and, most importantly, the proposed introduction of an adjustable pegged foreign exchange rate system. Currencies were pegged to gold and the IMF was given the authority to intervene when an imbalance of payments arose. |||One of the proposals of the Bretton Woods conference was that currencies should be convertible for trade and other current account transactions. Following the end of World War II in 1945, Europe and the rest of the world embarked on a lengthy period of reconstruction and economic development to recover from the devastation inflicted by the war. Although gold initially served as the base reserve currency, the U.S dollar gained momentum as an international reserve currency that was linked to the price of gold.
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