Need to know the exchange rate of Mexican pesos to the South African rand? What is a good time of day to trade Chinese Yuan for U.S. dollars? How will a trade war affect foreign exchange markets?
A cambist can tell you. No, it's not a witch doctor focusing on financial voodoo. It's a professional currency trader. Cambists know everything there is to know about buying and selling on foreign exchange markets. (The term comes from the Latin word "cambierre" meaning...take a guess here..."to exchange.")
Cambists and others can trade 24 hours a day, five days a week in foreign exchange markets around the world. (Get ready for a lot of Red Bull.) Anyone from individual investors to large international banks and manufacturing companies can buy and sell in these markets, and most likely could use some advice from a cambist.
Related or Semi-related Video
Finance: What is a Yankee Bond?36 Views
Finance allah shmoop what is a yankee bond We're safe
We're sound we're saying at least that's how we look
financially when you know the u s has compared with
most of the rest of the world that's why a
bunch of countries issue their own bonds denominated in u
s dollars you know countries like panama el salvador micronesia
and macron asia Well ours is ah hard currency and
that we don't or at least haven't historically created massive
ten percent a month inflation to deflate the value of
our own currency and well that would make it super
easy for our government to pay off its ludicrously high
death but we don't do that We respect the people
who loaned money to us including our own citizens So
we have a hard currency It just kind of stays
where it is Yes there's inflation Yes we raise the
rates a little bit here and there defended but generally
just kind of does its thing So we fight hard
to keep that trust that the rest of the world
often values more than well trust in their own governments
or at least their own government's ability to manage their
currency when they issue say argentinean bonds payable in u
s dollars Well then that's a yankee bond And we 00:01:14.819 --> [endTime] are the banker And well they are the yankee
Up Next
What is an Exchange Rate? An exchange rate is what a domestic currency is worth in a foreign currency’s denomination and vice versa. An exchange...