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Tag / Currency

Operational risks in FX trading

The foreign exchange market is one of the oldest money markets in existence. Banks are the predominant players through its many years of operation. The foreign exchange market has undergone significant change in both competition and size. Trading procedures have largely been adopted by market participants over time and not through the publication of specific […]

Effective Cash Management in Banks

Cash is to a business is what blood to a living body. In a business anything done financially affects the cash eventually. A business cannot run without its life blood cash and without cash management there may be no cash remaining to operate. Cash movement in a business is a two-way traffic. It keeps on […]

Iraq halts plans to redemoninate dinar

The Government of Iraq has decided to hold off on a plan to knock three zeros off the nominal value of bank notes of its currency because it does not believe the economic climate is suitable. The proposal to restructure the dinar to bring more liquidity into the market has been awaiting parliamentary approval since […]

CBI tightens rules on buying US dollars

Central Bank of Iraq is tightening access to US Dollars after demand ballooned amid suspicions some of the cash was being smuggled to Iran and Syria, both struggling with intensifying international sanctions. In February, the central bank asked dealers to submit cheques to identify currency buyers. From 2 April 2012, the rules were tightened further, […]

Cash as fuel!

Every year Hungary recycles approximately $1 billion worth of worn out forints, and converts the used currency into bricks. These bricks are sent to several charities, so they can burn them as heating fuel. The program allows the organization to cover up to a third of their annual heating costs. Banknotes undergo a quality check […]

Is Euro at fault for the current crisis?

One of the principal goals of Europe’s common currency – euro – has always been to promote greater financial market integration between member countries. It was hoped that the common currency would make it easier for investors in one euro country to find good investment opportunities in other euro countries since they would no longer […]

Why Greece must continue with Euro

Greece is going to face years of financial struggle even if they manage to restructure their debts. Their prospects are so bleak that, according to one school of thought, they would be better off outside the euro system, despite the immediate costs of leaving. I doubt, and not just because the immediate costs of an […]

Iraqi stamp in Indian currency

With the establishment of the British mandate after World War I, Iraq was incorporated into the Indian monetary system, which was operated by the British, and the rupee became the principal currency in circulation, at a rate of 1 dinar = 13⅓ rupees. 16 Annas = 1 Rupee. It continued until 1931 when the Iraq […]

EBF is planning for a new benchmark to rival Libor

A European banking group are testing a new price benchmark to set the cost of inter-bank and corporate lending, challenging the London Inter-Bank Offered Rate (Libor) pricing scheme and paving the way for a stronger role for continental European banks in money markets. On 26 May 2010, the Euribor Steering Committee Members voted in favour […]

Will SDR be the next global reserve currency?

The recent crisis has brought home the complex challenges arising from the world having a single reserve currency. The economy of US is also making USD a volatile currency. BRICS countries in their recent Sanya summit, decided to drop USD as a currency for their bilateral trades and preferred their own currency as a substitute. […]

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