Inconvertible currency is a name given to the currency the conversion of which into another currency is forbidden. There can be several reason for that like different forbidding regulations, physical barriers or political sanctions.
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Asian currency unit is a proposed basket of Asian currencies which was created alike to European currency unit. It was supposed to become Asian analogue of euro. The idea was explored by Asian Development Bank.
Spot date is a day when a spot trade transaction is carried out, meaning it is the exact day when the involved-in-transaction funds are transferred. In currency market spot date is usually set in 2 days after the order is placed.
Liquidity trap is market’s condition when interest rates are too low and savings rates are too high. They can appear as a result of ineffective monetary policy.
Mine and yours is the term used by the floor traders in order to describe buying and selling process respectively. When they want to buy a security they only type ‘mine’. The same with selling and ‘yours’. This was invented for the quick and easy communication between two brokers during a fast transaction.
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