The Complete Idiot's Mini Guide to Demystifying the Foreign Exchange Market by Gregory Rehmke

Author:Gregory Rehmke
Language: eng
Format: epub
Publisher: Penguin Group USA, Inc.
Published: 2010-10-15T00:00:00+00:00

For example, Bank A is awash in more pesos than it can use but needs dollars badly. Bank B has plenty of dollars but worries that there aren’t enough pesos on hand to meet customer demand. With members of the foreign exchange markets linked together electronically, it’s not hard for Bank A and Bank B to find each other, and a swap is born.

From Bank to Bank

The majority of banks don’t count trading in foreign currency as a big part of the business they do. They have connections with correspondent banks they can take advantage of when the need arises. Usually they just need assistance with retail transactions, which are sales to consumers of less than one million units of a particular currency.

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