scholarly journals CURRENCY SYSTEM AND CURRENCY TRADING OF GEORGIA

2021 ◽  
Vol 104 (1-2) ◽  
pp. 70-75
Author(s):  
Nino Kavtaradze
Keyword(s):  
Soviet Union ◽  
Foreign Exchange ◽  
Foreign Exchange Market ◽  
World Market ◽  
Exchange Market ◽  
Currency Market ◽  
Currency Exchange ◽  
The Soviet Union ◽  
The World ◽  
Online Trading

The present empirical paper investigates the following issues: the formation of the Georgian currency system that started after the collapse of the Soviet Union, when the country has declared its independence, establishing the National Bank of Georgia and issuing the national currency. Also is discussed financial market where foreign exchange and transaction are made. As it is known today, in the international currency market, 90% of the world market holds the FOREX (Foreign Exchange Market), which makes it the largest foreign exchange market in the world. FOREX currency traders, together with traditional forms, offers the most modern and comfortable form of trade - Online trading. The existing currencies are largely proportional to the ongoing processes of the FOREX market. Keywords: Currency, Currency Exchange Rate, Currency Market, Interbank Exchange Market, Foreign Exchange, FOREX Market.

scholarly journals ACQUAINTANCE TO FOREX FOREIGN EXCHANGE MARKET

2020 ◽  
pp. 174-180
Author(s):  
O. Zaitsev ◽  
T. Dvorianova
Keyword(s):  
Foreign Exchange ◽  
Professional Training ◽  
Foreign Exchange Market ◽  
Foreign Currency ◽  
Point Of View ◽  
Easy Access ◽  
Exchange Market ◽  
Potential Threat ◽  
Currency Market ◽  
Financial Transactions

The article draws attention to the steady growth of the general trend of direct participation of individuals in financial transactions using electronic platforms. In particular, the article notes the increased interest in participating in operations in the Forex currency market. It is emphasized that relatively technically easy access to participation in financial transactions through the use of electronic platforms is currently a potential threat to financial security for the funds of participants in such transactions. This is a lack of professional training of most novice traders who voluntarily become participants in financial transactions. It is emphasized that stock exchange transactions on stock markets, purchase and sale of currency on electronic platforms, transactions with gold, etc. require, along with general, also special knowledge on certain specific areas of economic development and financial relations. Also, psychological and behavioral factors begin to "work" in such relationships. It is noted that only from the beginning of 2019 in Ukraine at the legislative level began a systematic regulation of the structure of the foreign exchange market and the procedure for trading in foreign currency. The article states that it is time to pay attention to digitalized trading activities from a professional point of view and start teaching in educational institutions the relevant disciplines for training and acquiring students' general skills in trade and financial transactions on electronic platforms. From this point of view, the article provides an introductory review of the Forex currency market, outlines the principles of its operation, pays more attention to trading strategies. As a result, the following conclusions are made that, first, the foreign exchange market is highly profitable provided that its trends are mastered; secondly, the foreign exchange market is high risk; it is necessary to understand not only in many terms, but, especially, in processes and situations in the financial-globalized world to confidently use charts of change of cost of currencies for profit; thirdly, there are many different strategies that can be used successfully in the currency market, from the simplest - for amateurs, to more complex - for experienced traders, but none of them will fit perfectly for a particular psychotype, professional level and amount of time a person - trader can pay trade. Of particular value, according to the authors, is the following conclusion: a trader creates his own strategy, which provides a greater likelihood of earnings in the international Forex market. Currency trader is a creative activity, but an activity based on mastering a large base of professional knowledge.

Examining Volatility Spillover Between Foreign Exchange Markets and Stock Markets of Countries such as BRICS Countries

2021 ◽  
pp. 097215092110205
Author(s):  
Dharmendra Singh ◽  
M. Theivanayaki ◽  
M. Ganeshwari
Keyword(s):  
South Africa ◽  
Stock Market ◽  
Foreign Exchange ◽  
Foreign Exchange Market ◽  
Foreign Exchange Markets ◽  
Volatility Spillover ◽  
Exchange Market ◽  
Currency Market ◽  
Brics Countries ◽  
Exchange Markets

The objective of this article is to examine the volatility spillover effect between the foreign exchange market and the stock market of Brazil, Russia, India, China and South Africa (BRICS) countries along with Japan as the developed country in the region, affecting the BRICS countries. Generalized Autoregressive Conditionally Heteroscedastic (GARCH) (1,1) method is used to study the volatility between the stock market and the foreign exchange market in selected countries, and asymmetric model, that is, Exponential Generalized Autoregressive Conditional Heteroscedasticity—EGARCH (1,1) is also used to investigate the presence of leverage effects in both stock market and foreign exchange market in selected countries. GARCH findings suggest a two-way volatility spillover between the stock market and foreign exchange markets for India, China and South Africa. In BRICS countries, volatility spillover from the currency market to the stock market is seen as more evident and robust as compared to spillover from the stock market to the currency market. A positive asymmetry in spillover is also observed from the foreign exchange market to the stock market. The findings of the study may provide valuable information to investors for decision-making in international portfolio investment and also for economic policymakers for their financial stability perspective.

scholarly journals Chapter 2: Russia’s Development as a Top Player in World Grain Trade

2021 ◽  
pp. 69-94
Author(s):  
William M. Liefert ◽  
Olga Liefert
Keyword(s):  
Soviet Union ◽  
The United States ◽  
World Market ◽  
Soviet Period ◽  
The Soviet Union ◽  
Livestock Sector ◽  
Grain Trade ◽  
The World ◽  
Major Supplier ◽  
Foreign Sale

AbstractDuring the late Soviet period, Russia (along with the Soviet Union as a whole) was a major importer of grain, as well as soybeans and soybean meal, which were used to help feed the country’s growing livestock sector. The substantial reform-driven contraction in the livestock sector during the 1990s largely eliminated the need for grain imports. Beginning around 2000, Russia began to export grain, and into the 2010s it became major supplier on the world market. During 2016–2019, Russia exported on average 44 million metric tonnes a year, 10–14 percent of total world grain exports. The country’s dominant grain export is wheat, with Russia providing in the late 2010s around 20 percent of world market sales, thereby supplanting the United States as the world’s top wheat supplier. This chapter examines how Russia has developed into a major grain exporter, with the focus on how growing grain production since 2000 has generated surpluses for foreign sale.

scholarly journals A Study on Investors Awareness about Equity and Currency Market in Private Sectors

2021 ◽  
Vol 9 (1) ◽  
pp. 34-38
Author(s):  
Ms. Latha ◽  
K S Bhavani Devi
Keyword(s):  
Stock Market ◽  
Foreign Exchange ◽  
Foreign Exchange Market ◽  
Central Banks ◽  
Business Owners ◽  
Market Manipulation ◽  
Separate Entity ◽  
Exchange Market ◽  
Good Relationship ◽  
Currency Market

The study was conducted to examine the awareness among the investors about equity and currency market. The study was useful to identify the investors’ mentality towards stock market. The researcher could gain knowledge about equity and currency market. As well, it’s also helpful in creating a good relationship with the investors. At the beginning of a business, owners put some effort to finding the finance assets into the business. This creates the shape of the capital on the business liability to a separate entity from its owners. Although, the foreign exchange market is isolated comparing to other than this. Nevertheless market manipulation of central banks by the foreign exchange market has to be mentioned to the nearest ideal perfect completion.

Currency Order Flow and Exchange Rate Determination: Empirical Evidence from the Malaysian Foreign Exchange Market

2018 ◽  
Vol 19 (4) ◽  
pp. 902-920
Author(s):  
Abolaji Daniel Anifowose ◽  
Izlin Ismail ◽  
Mohd Edil Abd Sukor
Keyword(s):  
Exchange Rate ◽  
Foreign Exchange ◽  
Foreign Exchange Market ◽  
Empirical Test ◽  
Order Flow ◽  
Exchange Market ◽  
Vector Autoregressive ◽  
Exchange Rate Dynamics ◽  
Currency Exchange ◽  
Exchange Rate Movements

This article presents empirical test results of Malaysian foreign exchange market microstructure assessment of exchange rate dynamics. We apply vector autoregressive (VAR) model to estimate the influential role of currency order flow in the determination of the currency exchange rate for the Malaysian ringgit (MYR) against the US dollar (USD). We investigate whether currency order flow captures the movements of exchange rate of MYR against USD, and how the long-term and short-term components impact the relative estimation of MYR in the international market. We, construct a measure of order flow in the Malaysian foreign exchange market to reflect the pressure of currency excess demand. Our focus is on the cumulative currency order flow and the exchange rate relationship of MYR and USD. A hybrid model of order flow and exchange rate dynamics proposed by Evans and Lyons (2002a) is applied to the Malaysian foreign exchange market (MYR/USD) to analyse a dataset of every 15-minute currency order flow and exchange rate movements from January 2010 to December 2015. Our dataset has unique features in terms of the quality of the data, extensive period and precise high frequency. Our results show that currency order flow explains an important portion of the movements in the MYR–USD exchange rate.

Dynamics of exchange rate determination and currency order flow in the Thailand foreign exchange market

2017 ◽  
Vol 10 (2) ◽  
pp. 143-161 ◽  
Author(s):  
Abolaji Daniel Anifowose ◽  
Izlin Ismail ◽  
Mohd Edil Abd Sukor
Keyword(s):  
Exchange Rate ◽  
Foreign Exchange ◽  
Emerging Economies ◽  
Order Flow ◽  
Exchange Market ◽  
Content Type ◽  
Currency Exchange ◽  
The Us ◽  
The World

Purpose The purpose of this paper is to present the essential role that currency order flow plays in the foreign exchange markets of emerging economies in the determination of their currencies in the short and the long-run against major currencies of the world, which cannot be over emphasized, most especially against the US dollar. Insomuch that, if some of these emerging economies can be successfully transmitted into full development, it would be a good model for other emerging economies and the world at large. Design/methodology/approach A hybrid model (portfolio shift model) proposed by Evans and Lyons (2002a, 2002b) is extended to analyze a data set of every quarter of an hour currency order flow and currency exchange rate fluctuations of Thai Baht (THB) against the US$ for the period of six years (January 2010 to December 2015). To reflect the pressure of currency excess demand, the authors construct a measure of currency order flow in the Thailand currency exchange market. Vector autoregression model is applied to estimate the effectual role of currency order flow in the determination of exchange rate for the THB against the US$. Findings Currency order flow indeed accounted for a sizeable and significant portion of the fluctuations in the THB and the US$ exchange rate. Originality/value Insomuch that, the results show that currency order flow has significant explanatory power in the emerging markets economy to capture the THB exchange rate variability, and it then brings to the attention of the Thailand Monetary Authority the importance that should be attached to the market microstructure.

About current problems of development of the world financial system

2019 ◽  
Vol 39 (2) ◽  
pp. 172-178
Author(s):  
E. V. Zenkina ◽  
Y. S. Begma
Keyword(s):  
Money Supply ◽  
Foreign Exchange ◽  
World Economy ◽  
Foreign Exchange Market ◽  
Modern World ◽  
Exchange Market ◽  
Credit Expansion ◽  
Financial Bubble ◽  
The World ◽  
Classical Principle

Domination of the financial sphere in modern world economy is caused first of all by issue of credit monetary requirements. Such issue exceeding the volume of fiat deposits breaks a ratio between money supply and cost of the consumed goods. The arising imbalanceis stimulated also with growth of a share of virtual products for which the classical principle of pricing on the basis of expenses of factors of production is initially broken. The financial bubble grows and remains firm so far the trust to the world foreign exchange market remains. But credit expansion cannot be infinite.

scholarly journals Currency Market Efficiency Revisited: Evidence from Korea

2019 ◽  
Vol 7 (3) ◽  
pp. 52
Author(s):  
Kang
Keyword(s):  
Interest Rate ◽  
Market Efficiency ◽  
Foreign Exchange ◽  
Foreign Exchange Market ◽  
Central Banks ◽  
Forward Rate ◽  
Exchange Market ◽  
Interest Rate Parity ◽  
Currency Market ◽  
Rate Parity

Keywords: foreign exchange market efficiency; forward rate unbiased hypothesis; covered interest rate parity; central banks; central banks’ policies

scholarly journals INTERNATIONAL ISOTOPES MARKETS

2016 ◽  
pp. 145-157
Author(s):  
S. Z. Zhiznin ◽  
V. M. Timohov
Keyword(s):  
Nuclear Medicine ◽  
Soviet Union ◽  
World Market ◽  
Natural Uranium ◽  
Radioactive Isotopes ◽  
Industrial Base ◽  
The Soviet Union ◽  
Research Company ◽  
The World ◽  
Uranium Plutonium

The paper studies world markets of stable and radioactive isotopes. Isotopes have found various applications in science, industry, agriculture and other sectors of the economy, but especially - in medicine. Nuclear medicine is developing intensively all over the world thanks to the success in the treatment of various diseases with the help of radioactive pharmaceuticals (radiopharmaceuticals). The article uses empirical data from a forecast study of the global radiopharmaceuticals market made in 2015 by a research company «Markets and Markets» for the European, North American and global markets. The paper also analyzes the statistical data on the global export and import of natural uranium, enriched and depleted uranium, plutonium, thorium and some stable isotopes of non-medical purposes, presented by a company «Trend economy» in 2014. Despite a unique industrial base for the production of isotopes created in the Soviet Union Russia occupies a modest position on the world market of nuclear medicine except for certain areas. More than 80% of isotopes, produced in USSR were consumed domestically, the export of the stable and radioactive isotopes was in equal proportions. Now the country's domestic radiopharmaceuticals market is poorly developed. To radically change the situation, it is necessary to carry out reforms that stimulate the development of nuclear medicine.

The foreign exchange regime in a small open economy: Armenia and beyond

2017 ◽  
Vol 44 (5) ◽  
pp. 781-800 ◽  
Author(s):  
Aleksandr V. Gevorkyan
Keyword(s):  
Exchange Rates ◽  
Foreign Exchange ◽  
Open Economy ◽  
Risk Perceptions ◽  
Foreign Exchange Market ◽  
Exchange Market ◽  
Short Term ◽  
Content Type ◽  
Currency Exchange ◽  
Currency Exchange Rates

Purpose Offering an example of a small open developing economy, the purpose of this paper is to explore the reasons for relative stability in Armenia’s foreign exchange market. Relying on a single currency and derived cross-currency exchange rates, the paper models short-term effects between exchange market pressure and financial and macroeconomic factors. Design/methodology/approach Following a literature review, the paper sets the macroeconomic context with an initial variance comparison of standard currency pairs and derived cross-currency exchange rates. Then, the core analysis is carried out with a vector error correction model, focusing on short-term cross-dynamics in monthly data. The orthogonal impulse response function analyses help solidify and further inform relevant conclusions. Findings Three broad factors influence Armenia’s foreign exchange market: external push factors; domestic banking sector competition, and foreign currency risk perceptions; and domestic macroeconomic and dual, cross-pair, exchange rate target priorities. The central bank’s implicit management of the foreign exchange market’s expectations, pull factor, is consistent with trader market power’s contribution to lower volatility. Yet, the risk of financial and real-sector decoupling remains. Originality/value The results are relevant for emerging markets attempting to leverage the global liquidity and low interest rates, while being exposed to external pressures in the post-crisis environment, in which international reserves may be scarce while currency stability is an implied priority. This study can be further adapted to a more comprehensive structural short-term analysis of currency determination or similar dynamics in other small open economies.

Sign in / Sign up

Export Citation Format

Share Document