Currencies

Currencies are a typically a form of money in wide circulation, being the primary medium of exchange with respect to buying and selling goods and services. These are often issued by a specific government or collection of governments, by way of paper notes and coins. Other forms of currencies include previous metals such as gold and silver, and digital currencies such as Bitcoin. Currencies serve as a backbone of the country’s or countries’ economy, due to the perception of value held by the population that uses that currency.For example, the United States dollar, (symbol $, code USD), or the British pound sterling, (symbol £, code GBP), also known as fiat money, since they are not linked to any specific asset, such as gold or silver. Such metals were traditionally used as the main method of payment, since they held real and actual value. Even after the introduction of paper notes, many countries maintained a gold standard for much of the 20th Century, meaning a unit of money could be exchanged for a fixed amount of gold. How to Trade Currencies?The modern world, with the invention of electronic networks, computers and the internet, has allowed the transfer of money to occur almost instantaneously. It has also spawned a new era in currencies, including digital money, such as Bitcoin and Litecoin. Not backed by any government, but based on a complex set of mathematical software algorithms, the ubiquity of the internet has generated interest and uptake of digital currencies, whilst providing relative anonymity. Digital currencies can now also be traded online, via exchanges and brokers, similar to trading foreign currencies, known as the foreign exchange market. Forex is the world’s largest market, with over $5 trillion turnover per day, where fiat, floating currencies are bought and sold against other currencies, such as the euro vs the dollar (EUR/USD), and the British pound vs the Japanese yen (GBP/JPY).
Currencies are a typically a form of money in wide circulation, being the primary medium of exchange with respect to buying and selling goods and services. These are often issued by a specific government or collection of governments, by way of paper notes and coins. Other forms of currencies include previous metals such as gold and silver, and digital currencies such as Bitcoin. Currencies serve as a backbone of the country’s or countries’ economy, due to the perception of value held by the population that uses that currency.For example, the United States dollar, (symbol $, code USD), or the British pound sterling, (symbol £, code GBP), also known as fiat money, since they are not linked to any specific asset, such as gold or silver. Such metals were traditionally used as the main method of payment, since they held real and actual value. Even after the introduction of paper notes, many countries maintained a gold standard for much of the 20th Century, meaning a unit of money could be exchanged for a fixed amount of gold. How to Trade Currencies?The modern world, with the invention of electronic networks, computers and the internet, has allowed the transfer of money to occur almost instantaneously. It has also spawned a new era in currencies, including digital money, such as Bitcoin and Litecoin. Not backed by any government, but based on a complex set of mathematical software algorithms, the ubiquity of the internet has generated interest and uptake of digital currencies, whilst providing relative anonymity. Digital currencies can now also be traded online, via exchanges and brokers, similar to trading foreign currencies, known as the foreign exchange market. Forex is the world’s largest market, with over $5 trillion turnover per day, where fiat, floating currencies are bought and sold against other currencies, such as the euro vs the dollar (EUR/USD), and the British pound vs the Japanese yen (GBP/JPY).

Currencies are a typically a form of money in wide circulation, being the primary medium of exchange with respect to buying and selling goods and services.

These are often issued by a specific government or collection of governments, by way of paper notes and coins.

Other forms of currencies include previous metals such as gold and silver, and digital currencies such as Bitcoin.

Currencies serve as a backbone of the country’s or countries’ economy, due to the perception of value held by the population that uses that currency.

For example, the United States dollar, (symbol $, code USD), or the British pound sterling, (symbol £, code GBP), also known as fiat money, since they are not linked to any specific asset, such as gold or silver.

Such metals were traditionally used as the main method of payment, since they held real and actual value.

Even after the introduction of paper notes, many countries maintained a gold standard for much of the 20th Century, meaning a unit of money could be exchanged for a fixed amount of gold.

How to Trade Currencies?

The modern world, with the invention of electronic networks, computers and the internet, has allowed the transfer of money to occur almost instantaneously.

It has also spawned a new era in currencies, including digital money, such as Bitcoin and Litecoin.

Not backed by any government, but based on a complex set of mathematical software algorithms, the ubiquity of the internet has generated interest and uptake of digital currencies, whilst providing relative anonymity.

Digital currencies can now also be traded online, via exchanges and brokers, similar to trading foreign currencies, known as the foreign exchange market.

Forex is the world’s largest market, with over $5 trillion turnover per day, where fiat, floating currencies are bought and sold against other currencies, such as the euro vs the dollar (EUR/USD), and the British pound vs the Japanese yen (GBP/JPY).

News

No brakes on the Chinese yuan slide just yet

No brakes on the Chinese yuan slide just yet

  • Offshore yuan weakens past 6.80 against the dollar
Justin Low
Justin Low
Thursday, 12/05/2022 | 05:30 GMT-0
12/05/2022 | 05:30 GMT-0
Technical Analysis

USDCAD retraces the declines from yesterday

USDCAD

USDCAD retraces the declines from yesterday

  • USDCAD moves into a swing area between 1.2846 to 1.2857
Greg Michalowski
Greg Michalowski
Thursday, 05/05/2022 | 16:27 GMT-0
05/05/2022 | 16:27 GMT-0
News

US stocks trading lower in early Friday trading

US stocks trading lower in early Friday trading

  • Amazon and Apple concerns weigh on the major indices
Greg Michalowski
Greg Michalowski
Friday, 29/04/2022 | 13:39 GMT-0
29/04/2022 | 13:39 GMT-0
Technical Analysis

The AUD is the strongest and the USD is the weakest as the NA session begins

forex

The AUD is the strongest and the USD is the weakest as the NA session begins

  • TGIF to all
Greg Michalowski
Greg Michalowski
Friday, 29/04/2022 | 12:14 GMT-0
29/04/2022 | 12:14 GMT-0
Education

At least the stronger dollar is likely to help inflation. The DXY is up 9.11% in 2022

Featured Image 25

At least the stronger dollar is likely to help inflation. The DXY is up 9.11% in 2022

  • But it also hurts corporate profits
Greg Michalowski
Greg Michalowski
Wednesday, 27/04/2022 | 16:14 GMT-0
27/04/2022 | 16:14 GMT-0