Bank info request

I think I have posted this here before and several other places and did not get a response. I have seen people post screen shots of the foreign currency screen from a bank, it was 2 pages long with most of the entries being zeros. Only 16 currencies had buy and sell prices, and some missing from that 16 were currencies like the KWD, Brazilian Real, Chinses Yuan, etc. My question for anyone who works or worked in this area of banking, or anyone with contacts there, is what does it take to have buy and sell prices listed for a particular currency?

Not sure, but at least a reconized tradeable currency, (by the rest of the world), which as of today I don't believe the IQD is one.

This may something to do with Iraq's (Maliki's) putting so much effort into getting Iraq released from the UNSC sanction under Chapter 7.

Well, I am pretty sure that more than 16 of the world's currencies are tradable, but only 16 of them appeared on that bank screen with buy and sell prices. I'm sure many of the others are traded on Forex, but they are not bought and sold by the bank, so it must take more than just being a tradable currency to make the bank screen as one they will buy and sell. Just wondered if anyone knew what the criteria was to make the list?

I believe that the 16 currency's that you are referring to are the most "commonly" traded currencys. We all know there are more that 16 but, many are not tradeable, exotic, etc. etc. so they don't list those per sey but I believe certain "Forex" traders and others with access can look them up.

Just my 2 cents worth..

catman wrote:I think I have posted this here before and several other places and did not get a response. I have seen people post screen shots of the foreign currency screen from a bank, it was 2 pages long with most of the entries being zeros. Only 16 currencies had buy and sell prices, and some missing from that 16 were currencies like the KWD, Brazilian Real, Chinses Yuan, etc. My question for anyone who works or worked in this area of banking, or anyone with contacts there, is what does it take to have buy and sell prices listed for a particular currency?

Although I am NOT a trader in currencies but, I will add my 2 dinar worth here... More than likely just about any currency can be traded. Banks do this every night while your asleep. However the big ones like, Yen, Euro, the Pound, along with a few others would all they would really need to "post". Others would be by inquiry. Still others would be by Forex trade or another trading co.

These "standard" currencies the banks trade are one way the banks make money, sometimes make money sometimes loose money, (nature of the game)(they actually bet daily on even as small as a 1 cent change) However at the at the "business centers" of more than likely all banking institutions (which would be regionally located) one could probably buy and sell most any currency in the world for travel purposes. These exchanges can also be done in most local banks by "ordering" ahead and then said bank might bring it in for your particular purchase / exchange.

That is not to say that one might or might not use other currencies to try and profit just the "slow movers" and very well could take even more time than this endeavor here. Probably noone or any group invest in those others to look for profit.Unless of course they actually knew something was up in a said country that might cause a significant movement.So what would be the point of wasting input and / or bandwidth to post? IMO I hope this helps in some way.

Not sure, but at least a reconized tradeable currency, (by the rest of the world), which as of today I don't believe the IQD is one.

Not sure, but at least a reconized tradeable currency, (by the rest of the world), which as of today I don't believe the IQD is one.

We often hear that the IQD is not an internationally traded or recognized currency. I have couple question for you.

Did you buy any IQD?

Did it have a worth?

Can you take to an International currency bank or airport and trade it for another currency?

What does that tell you?

Try taken you IQD to any bank in the US I know of only one that bank that "trades" in it, at this point in time it is "exotic"