Glossary
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E Understanding Exotic Currencies
Exotic currencies are currencies from emerging or less frequently traded economies. These currencies are characterized by lower liquidity and higher volatility compared to major and minor currencies
P Understanding the Petrocurrency
Petrocurrencies refer to currencies of countries that have a significant reliance on exporting petroleum. These currencies are closely tied to the global oil market and are influenced by fluctuations in oil prices
M Understanding the Moldovan Lei (MDL)
The Moldovan Lei (MDL) is the official currency of the Republic of Moldova. It is represented by the symbol “MDL” and is commonly referred to as the Moldovan leu
N Understanding the North Korean Won (KPW)
The North Korean Won, denoted by the currency code KPW, is the official currency of the Democratic People’s Republic of Korea (DPRK
N Understanding the Namibian Dollar (NAD)
The Namibian Dollar (NAD) is the official currency of Namibia, a country located in southwestern Africa. Introduced in 1993, the NAD replaced the South African Rand (ZAR) as the official currency of Namibia
N Understanding the Nigerian Naira (NGN)
The Nigerian Naira is denoted by the symbol “₦” and is subdivided into 100 kobo. It serves as the legal tender for all transactions within Nigeria
M Understanding the Mauritian Rupee (MUR)
The Mauritian Rupee (MUR) is the official currency of Mauritius, a beautiful island nation located in the Indian Ocean
N Understanding the Nepalese Rupee (NPR)
The Nepalese Rupee, denoted by the currency code NPR, is the official currency of Nepal. It is issued and regulated by the Nepal Rastra Bank, the country’s central bank
M Understanding the Mozambican Metical (MZN)
The Mozambican Metical (MZN) is the official currency of Mozambique, a country located in Southeast Africa. Introduced in 1980, the Metical replaced the previous currency, the Mozambican Escudo, at a rate of 1 Metical to 1,000 Escudos
N Understanding the New Zealand Dollar (NZD)
The New Zealand Dollar, denoted by the currency code NZD and the symbol $, has a rich history and plays a significant role in New Zealand’s economy
S Understanding the South African Rand (ZAR) Currency
The South African Rand (ZAR) is the official currency of South Africa. As one of the most traded currencies in the world, it plays a significant role in the global financial markets
S Understanding the Seychelles Rupee (SCR) Currency
The currency symbol of the Seychelles Rupee is ₨, which represents the monetary unit of Seychelles. Meanwhile, its currency code is SCR, which is widely used in the foreign exchange market to denote the Seychelles Rupee in currency pairs and trading platforms