Bank Notes

Definition

Bank notes are paper issued by the central or issuing bank and are legal tender, but are not usually considered to be part of the FX market. However bank notes can be converted, in some counties, into FX. Bank notes are normally priced at a premium to the current spot rate for a currency.

Forex Word of the day

ISDA (International Securities Dealers Association
Organization which foreign currency exchange banks have formed to regulate inter-bank markets and exchanges.
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