The currency abbreviation or currency symbol for the Bolivian boliviano (BOB), the currency of Bolivia. The Bolivian boliviano is made up of 100 centavos. Although the currency has changed many times, the name has been used to represent the Bolivian currency unit since 1864. |||When first introduced in 1864, the boliviano was made equivalent to half a Bolivian scudo (the former national currency). After its introduction, it was pegged at 5 French francs to 1 boliviano until 1908, when it was put on the gold standard and pegged at 12.5 bolivianos to 1 British pound (GBP). From 1908 to 1962 the currency suffered a series of serious devaluations, and in 1963 it was replaced by the peso boliviano (BOP) at a rate of 1,000 to 1. Many more years of rampant inflation and currency devaluation continued, forcing the nation to once again replace its currency. In 1987, BOP was replaced with the current boliviano (BOB), at a rate of 1 million to 1, making it equivalent to 1 U.S. dollar. Since this time, BOB has been allowed to float freely against other currencies.
The currency abbreviation for the Botswana pula (BWP), the currency for Botswana. The Botswana pula is made up of 100 thebe and is often presented with the symbol P. The BWP is pegged to a basket of currencies, which operates using a crawling band exchange rate using the International Monetary Fund's special drawing rights (SDR) and the South African rand as reserve assets. The Botswana pula is issued by the bank of Botswana. |||The Botswana pula was first seen in 1976 when it replaced the South African rand. The Botswana pula is fully convertible due to the abolishment of foreign exchange controls in 1999. Before the rand, many currencies were used and replaced, including the British pound sterling, which was used until 1920, and the South African pound, which was used until 1961, when it was replaced by the South African rand. On August 23, 1976, the pula was introduced at an exchange rate of one for one with the rand. Pula means "rain" or "blessing" because rain is so scarce in Botswana and is therefore considered valuable.
An investment strategy that involves the buying of money market instruments or currencies in anticipation of a price rise or a future increase in demand. When there is anticipation or an expectation of a rise in security prices, or an increase in the demand levels of a particular currency, buying forward allows an investor to take advantage of future and potential profits by buying now, at a lower price, and selling when prices rise. |||The opposite of buying forward is selling forward. If an investor believes that the price of a security or the demand of a currency is going to drop, selling forward can help the investor mitigate loss because he or she is selling now, while the price is still high as opposed to selling at a loss when prices drop.
The best available price to buy a security at any given time throughout the trading session. Brokers are required to provide customers the best available prices, or the National Best Bid and Offer (NBBO). Simply put, the buy quote is the number that represents the price of the security. |||In forex, the buy quote is displayed on the right side of the price quote and represents the price at which customers can purchase the base currency. For example, in the GBP/USD forex pair, a quote of 1.6253/55, a customer could buy the base currency (GBP) for $1.6255.
Refers to the central bank of Germany. This is the U.S. equivalent of the Federal Reserve. |||The Bundesbank was in charge of the German deutsche mark but now that the country has adopted the euro, it is part of the European system of central banking.
A foreign exchange trading strategy that attempts to profit from a grid of "carry trade" currency positions. A carry grid entails the purchase of currencies that pay relatively high interest rates, and the concurrent sale of currencies that have low interest rates, at certain pre-set intervals. |||This strategy seeks to capture the interest differential or "carry" between various currencies. The major risk of a carry grid is that a major turnaround in the carry trade can lead to significant losses that may be exacerbated by the multiple trading positions in the trading grid.
An expert trader who rapidly buys and sells currency throughout the day. |||The term comes from the Latin word "cambiere" which means "to exchange".
A type of compound option in which the investor has the right to exercise a call on the underlying asset, which is an option. An investor who owns a call on a call option has until the expiration date to exercise the compound option. If exercised, the investor will receive the underlying call option, which will have a set expiration date and a new exercise price. If the underlying option is exercised, the investor receives the underlying assets. |||A compound option is an option in which the underlying asset is itself an option - so it is an option on an option. Before expiration, the value of the option depends on the value of the asset the underlying option represents. At expiration, the option can be priced at expiration using the Metron model. This means that the value of the call on a call option (with the underlying good being a stock) increases as the stock's price increases. An investor will exercise the call on a call option if, at the expiration date, the price of the underlying call option is worth more than the exercise price of the option.
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