What Are the International Currency Markets? The international currency market is a market in which participants from around the world buy and sell different currencies. Participants include banks, corporations, central banks, investment management firms, hedge funds, retail forex brokers, and investors. The international currency market is important because it helps to facilitate global transactions, including
What Is JPY (Japanese Yen)? JPY is the abbreviation for the Japanese yen, the currency of Japan. The yen is often represented with a symbol that looks like the capital letter Y with two horizontal dashes through the center: ¥. Key Takeaways The Japanese yen is the world’s third-most traded currency, behind the U.S. dollar
What Is the Kenyan Shilling (KES)? The Kenyan shilling (KES) is the official currency of the Republic of Kenya. It is used in Kenya, the Sudan, and Somalia. However, Sudan and Somalia have their own official currency, which is the Somali Shilling and the Sudanese Pound. The Kenyan 890p-‘ shilling is further divided into 100
What Is the KHR (Cambodian Riel)? KHR is the currency code for the riel, the official currency of Cambodia. Its symbol is ៛, and its sub-units are the sen, one-hundredth of a riel, and the kak, one-tenth of a riel. The riel circulated in Cambodia during two separate periods, from 1953 to 1975 and from
What Is the North Korean Won (KPW)? The term North Korean won (KPW) is the national currency of the Democratic People’s Republic of Korea or North Korea. The currency is abbreviated in the currency market as KPW and is represented by the symbol ₩. The won is issued and managed by the country’s central bank.
What Is the Korean Won (KRW)? The Korean won (KRW) is the national currency of South Korea. Its users denote the won by using the symbol “₩,” as in “₩1,000.” Since 1950, it has been administered by the nation’s central bank, the Bank of Korea. The won is fully convertible and is routinely traded against
What Is the Kazakhstan Tenge (KZT)? The Kazakhstan tenge (KZT) is the national currency of Kazakhstan. It was introduced in 1993, replacing the Russian ruble. Prior to its independence in 1991, Kazakhstan was a part of the Soviet Union. Key Takeaways The KZT is the national currency of Kazakhstan.Since 2009, the KZT’s value has steadily
What Is the Lao Kip (LAK) The term Lao kip (LAK) refers to the official national currency of Lao People’s Democratic Republic or Laos. It is abbreviated as LAK in the foreign exchange market and is represented by the symbols ₭ and ₭N. The currency is maintained by Laos’s central bank, Bank of the Lao
What Is the Latvian Lats (LVL)? The Latvian lats (LVL) was the national currency of the Republic of Latvia, a Baltic nation that is a member of the European Union. The LVL was used between 1993 and 2013. At the start of 2014, it was replaced by the euro. Key Takeaways The Latvian lats was
What Is the Libyan Dinar (LYD)? LYD is the currency abbreviation for the Libyan dinar, the official currency of Libya, a country located in Northern Africa. The Libyan dinar is often called jni or jenh locally in Libya. The abbreviation LYD is often used for the Libyan dinar in the foreign exchange market, which is where
