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What is meant by the term 'commodity currency'?
Commodity currency is the name given given to currencies of countries that depend heavily on the export of certain raw materials for income. These is typical for developing countries.
How do you match a product with the type of market in which it is sold?
oil = commodity dollars = currency exchange market treasuries = bond market Corn and wheat-Commodity market Pesos and yen-Currency exchange market Munis and Treasuries-Bond market
What best explains the difference between a fixed currency and a floating currency?
The price of a floating currency is determined by the currency exchange market while the price of a fixed currency is connected to the price of some other commodity.
What is Commodity-backed money?
Commodity-backed money is just what it sounds like: it's a currency where every unit of money--dollars, say--is backed by a stated amount of a commodity held in reserve by the government.
What is commodity forex online trading for?
Forex trading signals refers to the exchange of one type of currency for another type of currency. For example, trading US dollars. There is an exchange rate to get a certain quantity of one amount; 100 pesos may be 1 US dollar for instance. Commodity trading signals, however, involves the strategy of buying and selling physical goods in order to gain to gain a profit.
What was the british currency during 1776?
the currency that was printed during the revolutionay war was the commodity money
What is meant by the term 'commodity currency'?
Commodity currency is the name given given to currencies of countries that depend heavily on the export of certain raw materials for income. These is typical for developing countries.
How do you match a product with the type of market in which it is sold?
oil = commodity dollars = currency exchange market treasuries = bond market Corn and wheat-Commodity market Pesos and yen-Currency exchange market Munis and Treasuries-Bond market
What best explains the difference between a fixed currency and a floating currency?
The price of a floating currency is determined by the currency exchange market while the price of a fixed currency is connected to the price of some other commodity.
What is Commodity backed money?
Commodity-backed money is just what it sounds like: it's a currency where every unit of money--dollars, say--is backed by a stated amount of a commodity held in reserve by the government.
What is Commodity-backed money?
Commodity-backed money is just what it sounds like: it's a currency where every unit of money--dollars, say--is backed by a stated amount of a commodity held in reserve by the government.
Are there individuals who specialize in online currency trading?
There are individuals and companies who specialize in online currency trading. Currency is just like any other commodity such as, sugar, wheat, corn, oil, textiles, silver, etc.
Why is digital money classified as fiat money?
Because usually it is not backed up by any commodity such as gold or silver. While it is possible to have digital currency that is fully backed up by a commodity, most aren't.
Legal tender that is not based on or convertible into commodity?
There are two questions here. A legal tender that's not based on a commodity is a "fiat currency." Fiat is a Latin word meaning, "let it be done," and they use the word because a fiat currency has value by government decree. But a legal tender that's not convertible into a commodity? No such thing--if you have enough legal tender to do it, you can convert US Dollars, euros, Chinese renminbi or anything else you have into just about any commodity you want just by going to a dealer and buying some of it. (Crude oil is the only exception--you have to be a refinery to buy that.)
What is commodity money?
Commodity money has become a medium exchange. This money has a common value and can be easily divided. Generally, a single item that would be accepted in exchange for other goods. For example: Coins, gold, grains, silver, currency, etc.
Why is Australia's currency strong?
The primary factors for Australia's currency currently being strong are: 1) High relative interest rates - makes it more attractive to hold 2) High commodity demand and consequently prices
Which is the largest commodity exchange for commodity market?
Oil is that commodity.
