What is Mozambique Metical (MZM/MZN) The Mozambique metical (MZM) is the national currency the African nation of the Republic of Mozambique. The currency’s name, the metical, comes from the Arabic word mithqal, a unit of weight and an alternative name for the gold dinar coin that saw use throughout much of Africa until the nineteenth century. In
What Is the Bhutanese Ngultrum (BTN)? The Bhutanese ngultrum (BTN) is the national currency for the Kingdom of Bhutan, an isolated, mountainous country in central Asia. Its name is a combination of the word ngul, meaning “silver” in the traditional Bhutanese Dzongkha language, and trum, a Hindi word meaning “money.” The ngultrum subdivides into 100 chetrums and uses
What Is the BWP (Botswana Pula)? BWP is the ISO currency code for the official currency of Botswana, the pula, and the symbol “P” represents it. The Bank of Botswana issues and manages the pula. Pula means “rain” or “blessing” because rain is so scarce in Botswana and is considered valuable. The pula is made up
What Is the Belize Dollar (BZD)? BZD is the currency abbreviation for the Belize dollar, which is the currency for Belize. It is often presented locally with the symbol BZ$. The abbreviation BZD is used in the foreign exchange market, which is where currencies from different countries are bought, sold and exchanged. Denominations of the
What Is the Chilean Peso (CLP)? The Chilean peso is the official currency of Chile and is issued by the Banco Central de Chile, the country’s central bank. It is represented by the code CLP on the foreign currency markets. The peso is symbolized by $, usually preceded by the symbol CLP to distinguish it
What Is the Chinese Yuan Renminbi (CNY)? The term Chinese yuan renminbi (CNY) refers to the currency used in the People’s Republic of China. Although it may seem a little confusing because the names are often depicted together, they’re actually two separate terms. A yuan acts as China’s unit of account for its financial system
What Are the Commodity Pairs? The commodity pairs, or commodity currencies, are those forex currency pairs from countries with large amounts of commodity reserves. These pairs are highly correlated to changes in commodity prices since the countries produce and export various commodities. Traders and investors seeking exposure to commodity price fluctuations often take positions in commodity currency
What Is a Currency Day Trading System? A currency day trading system is a framework that day traders in the foreign exchange market use to determine whether to buy or sell a currency pair on a short-term or day trading basis. Typically, these systems consist of several graphical interfaces that produce charts, indicators, and other currency day trading signals
What Is Currency History? Currency history is a term that refers to the historical performance of various currency pairs on the forex market, representing differences in exchange rates over time. Forex traders use these historical currency exchange rates to get a handle on how a currency pair has traded in the past in relation to
What Is Electronic Currency Trading? Electronic currency trading is a method of trading currencies through an online broker or via an online currency exchange. Trading electronically significantly increases access to markets, lowers trading costs, streamlines confirmation and settlement times, and ensures forex markets can operate globally on a 24/7 basis without interruption. Key Takeaways Electronic currency
