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Home Dictionary N Norwegian Krone (NOK) The Norwegian krone (NOK), which began circulation in 1875, is the official currency of Norway. The regulation and circulation of the krone is controlled by the country’s central bank, Norges Bank. The Norwegian krone currency code is “NOK” and its symbol is “kr”. Coins come in denominations of 1, 5, 10 and 20 crowns, and banknotes are divided into denominations of 50, 100, 200, 500 and 1000. As of August 23, 2022, the value of the Norwegian krone is 0.10 cents. Eurocurrency
September 25, 2022 The term Eurocurrency refers to foreign currency deposits held in banks outside their country of origin. Unsterilized Foreign Exchange Intervention
September 25, 2022 Unsterilized foreign exchange interventions take place when a country’s monetary authorities influence exchange rates and its money supply. Countertrade
September 25, 2022 Countertrade provides a mechanism for countries with limited access to liquidity to exchange goods and services with other countries. Currency Carry Trade
September 25, 2022 A currency carry trade is a strategy in which a high-yielding currency finances the trade of a low-yielding currency. Currency Exchange
September 25, 2022 Currency exchange is a business that allows customers to exchange one currency for another. Currency Peg
September 25, 2022 A peg is a policy in which a national government sets a certain fixed exchange rate for its currency against a foreign currency or a basket of currencies. Currency Swap
September 25, 2022 A currency swap involves the exchange of interest - and sometimes principal - in one currency for the same thing in another currency. Denomination
September 25, 2022 The name defines the monetary unit in which assets, securities and transactions are valued. Direct Quote
September 25, 2022 Direct quotation is a quotation of a currency pair in which a foreign currency is expressed per unit of national currency. ECN Broker
September 25, 2022 ECN Brokers facilitate transactions that take place on Electronic Communications Networks (ECNs). Euro
September 25, 2022 The Euro is the official currency of the European Union (EU), adopted by 19 of the 27 EU member states. Euro Overnight Index Average (Eonia)
September 25, 2022 Euro Overnight Index Average (EONIA) is the average base overnight rate at which European banks lend to each other in euros. Eurocurrency Market
September 25, 2022 The Eurocurrency market is the money market for a currency outside the country where it is legal tender. Eurodollar
September 25, 2022 Eurodollars refer to dollar-denominated accounts in foreign banks or overseas branches of US banks. European Currency Unit (ECU)
September 25, 2022 The European Currency Unit (ECU) was the currency used by the European Monetary System (EMS) before it was replaced by the euro. European Monetary System (EMS)
September 25, 2022 The European Monetary System (EMS) was a managed exchange rate agreement created in 1979 to promote closer cooperation on monetary policy among members of the European Community (EU). Eurozone
September 25, 2022 The Eurozone refers to the economic and geographical region consisting of all countries of the European Union (EU) that use the euro as their national currency. Exchange Rate Mechanism (ERM)
September 25, 2022 The Exchange Rate Mechanism (ERM) is the way in which governments can influence the relative price of their national currency in foreign exchange markets. Floating Exchange Rate
September 25, 2022 The floating exchange rate is determined by supply and demand on the open market. Foreign Currency Convertible Bond (FCCB)
September 25, 2022 A foreign currency convertible bond (FCCB) is a type of bond issued in a currency other than the issuer’s national currency. Foreign Currency Swap
September 25, 2022 A currency swap is an agreement between two parties to exchange interest rates on their loans in different currencies. Foreign Exchange
September 25, 2022 Forex is a global trading platform for the exchange of national currencies. Foreign Exchange Risk
September 25, 2022 Foreign exchange risk refers to the losses that an international financial transaction may incur due to fluctuations in foreign exchange rates. Forward Exchange Contract
September 25, 2022 A foreign exchange forward contract (FEC) is an agreement between two parties to make a foreign exchange transaction, usually involving a currency pair that is not available on the foreign exchange markets. Forward Market
September 25, 2022 Forward contracts differ from futures contracts in that they are customizable in terms of size and duration or maturity.