📝 One-liners · 66 cards
FOREIGN EXCHANGE
What is the 'spot rate' in foreign exchange markets?
The spot rate is the exchange rate at which a currency can be bought or sold for immediate delivery, typically settled within two business days of the transaction date.
What is 'dirty float' exchange rate system?
System where central bank occasionally intervenes to influence currency value.
What does 'Nostro account' mean in international banking?
Nostro account (Latin for 'our account') is an account that a domestic bank holds in a foreign bank in the foreign bank's currency, used to facilitate foreign exchange transactions and international settlements.
What is 'devaluation' of a currency in international finance?
Official reduction in currency's value relative to other currencies by government.
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