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List of Countries and their Currencies

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gbaf1news
Sl. No Country/Territory Currency
1 Afghanistan Afghani
2 Albania Lek
3 Algeria Algerian Dinar
4 Andorra Euro
5 Angola Kwanza
6 Anguilla East Caribbean Dollar
7 Antigua and Barbuda East Caribbean Dollar
8 Argentina Argentine Peso
9 Armenia Dram
10 Aruba Aruban Guilder/florin
11 Australia Australian Dollar
12 Austria Euro
13 Azerbaijan Azerbaijani Manat
14 Bahamas, The Bahamian Dollar
15 Bahrain Bahraini Dinar
16 Bangladesh Taka
17 Barbados Barbadian Dollar
18 Belgium Euro
19 Belize Belizean Dollar
20 Bermuda Bermudian Dollar
21 Bhutan Ngultrum
22 Bolivia Boliviano
23 Bosnia and Herzegovina Konvertibilna Marka (convertible Mark)
24 Botswana Pula
25 Brazil Real
26 British Virgin Islands Us Dollar
27 Brunei Bruneian Dollar
28 Bulgaria Lev
29 Burma Kyat
30 Burundi Burundi Franc
31 Cambodia Riel
32 Canada Canadian Dollar
33 Cape Verde Cape Verdean Escudo
34 Cayman Islands Caymanian Dollar
35 Chile Chilean Peso
36 Christmas Island Australian Dollar
37 Cocos (Keeling) Islands Australian Dollar
38 Colombia Colombian Peso
39 Comoros Comoran Franc
40 Congo, Democratic Republic of the Congolese Franc
41 Cook Islands Nz Dollar
42 Costa Rica Costa Rican Colon
43 Croatia Kuna
44 Cuba Cuban Peso
45 Czech Republic Czech Koruna
46 Denmark Danish Krone
47 Dhekelia Cypriot Pound
48 Djibouti Djiboutian Franc
49 Dominica East Caribbean Dollar
50 Dominican Republic Dominican Peso
51 Ecuador Us Dollar
52 Egypt Egyptian Pound
53 El Salvador Us Dollar
54 Eritrea Nakfa
55 Estonia Estonian Kroon
56 Ethiopia Birr
57 Falkland Islands (Islas Malvinas) Falkland Pound
58 Faroe Islands Danish Krone
59 Fiji Fijian Dollar
60 Finland Euro
61 France Euro
62 French Polynesia Comptoirs Francais Du Pacifique Franc
63 Gambia, The Dalasi
64 Gaza Strip New Israeli Shekel
65 Georgia Lari
66 Germany Euro
67 Ghana Cedi
68 Gibraltar Gibraltar Pound
69 Greece Euro
70 Greenland Danish Krone
71 Grenada East Caribbean Dollar
72 Guam Us Dollar
73 Guinea Guinean Franc
74 Guyana Guyanese Dollar
75 Haiti Gourde
76 Holy See (Vatican City) Euro
77 Honduras Lempira
78 Hong Kong Hong Kong Dollar
79 Hungary Forint
80 Iceland Icelandic Krona
81 India Indian Rupee
82 Indonesia Indonesian Rupiah
83 Iran Iranian Rial
84 Iraq New Iraqi Dinar
85 Ireland Euro
86 Italy Euro
87 Jamaica Jamaican Dollar
88 Japan Yen
89 Jordan Jordanian Dinar
90 Kazakhstan Tenge
91 Kenya Kenyan Shilling
92 Kiribati Australian Dollar
93 Korea, North North Korean Won
94 Korea, South South Korean Won
95 Kyrgyzstan Som
96 Laos Kip
97 Latvia Latvian Lat
98 Lebanon Lebanese Pound
99 Lesotho Loti
100 Liberia Liberian Dollar
101 Libya Libyan Dinar
102 Liechtenstein Swiss Franc
103 Lithuania Litas
104 Luxembourg Euro
105 Macau Pataca
106 Macedonia Macedonian Denar
107 Madagascar Madagascar Ariary
108 Malawi Malawian Kwacha
109 Malaysia Ringgit
110 Maldives Rufiyaa
111 Malta Maltese Lira
112 Marshall Islands Us Dollar
113 Mauritania Ouguiya
114 Mauritius Mauritian Rupee
115 Mayotte Euro
116 Mexico Mexican Peso
117 Micronesia, Federated States of Us Dollar
118 Moldova Moldovan Leu
119 Monaco Euro
120 Mongolia Togrog/tugrik
121 Montenegro Euro
122 Montserrat East Caribbean Dollar
123 Morocco Moroccan Dirham
124 Mozambique Metical
125 Namibia Namibian Dollar
126 Nauru Australian Dollar
127 Nepal Nepalese Rupee
128 Netherlands Euro
129 Netherlands Antilles Netherlands Antillean Guilder
130 New Caledonia Comptoirs Francais Du Pacifique Franc
131 New Zealand New Zealand Dollar
132 Nicaragua Gold Cordoba
133 Nigeria Naira
134 Niue New Zealand Dollar
135 Norfolk Island Australian Dollar
136 Northern Mariana Islands Us Dollar
137 Norway Norwegian Krone
138 Oman Omani Rial
139 Pakistan Pakistani Rupee
140 Palau Us Dollar
141 Panama Balboa
142 Papua New Guinea Kina
143 Paraguay Guarani
144 Peru Nuevo Sol
145 Philippines Philippine Peso
146 Pitcairn Islands New Zealand Dollar
147 Poland Zloty
148 Portugal Euro
149 Puerto Rico Us Dollar
150 Qatar Qatari Rial
151 Russia Russian Ruble
152 Rwanda Rwandan Franc
153 Saint Helena Saint Helenian Pound
154 Saint Kitts and Nevis East Caribbean Dollar
155 Saint Lucia East Caribbean Dollar
156 Saint Pierre and Miquelon Euro
157 Saint Vincent and the Grenadines East Caribbean Dollar
158 Samoa Tala
159 San Marino Euro
160 Sao Tome and Principe Dobra
161 Saudi Arabia Saudi Riyal
162 Serbia Serbian Dinar
163 Seychelles Seychelles Rupee
164 Sierra Leone Leone
165 Singapore Singapore Dollar
166 Slovakia Slovak Koruna
167 Slovenia Euro
168 Solomon Islands Solomon Islands Dollar
169 Somalia Somali Shilling
170 South Africa Rand
171 Spain Euro
172 Sri Lanka Sri Lankan Rupee
173 Sudan Sudanese Dinar
174 Suriname Surinam Dollar
175 Svalbard Norwegian Krone
176 Swaziland Lilangeni
177 Sweden Swedish Krona
178 Switzerland Swiss Franc
179 Syria Syrian Pound
180 Taiwan New Taiwan Dollar
181 Tajikistan Somoni
182 Tanzania Tanzanian Shilling
183 Thailand Baht
184 Timor-Leste Us Dollar
185 Tokelau New Zealand Dollar
186 Tonga Pa’anga
187 Trinidad and Tobago Trinidad And Tobago Dollar
188 Tunisia Tunisian Dinar
189 Turkmenistan Turkmen Manat
190 Turks and Caicos Islands Us Dollar
191 Uganda Ugandan Shilling
192 Ukraine Hryvnia
193 United Arab Emirates Emirati Dirham
194 United Kingdom British Pound
195 United States Us Dollar
196 Uruguay Uruguayan Peso
197 Uzbekistan Uzbekistani Soum
198 Vanuatu Vatu
199 Venezuela Bolivar
200 Vietnam Dong
201 Virgin Islands Us Dollar
202 Wallis and Futuna Comptoirs Francais Du Pacifique Franc
203 West Bank New Israeli Shekel
204 Western Sahara Moroccan Dirham
205 Yemen Yemeni Rial
206 Zambia Zambian Kwacha
207 Zimbabwe Zimbabwean Dollar

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Economic recovery likely to prove a ‘stuttering’ affair

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Economic recovery likely to prove a ‘stuttering’ affair 1

By Rupert Thompson, Chief Investment Officer at Kingswood

Equity markets continued their upward trend last week, with global equities gaining 1.2% in local currency terms. Beneath the surface, however, the recovery has been a choppy affair of late. China and the technology sector, the big outperformers year-to-date, retreated last week whereas the UK and Europe, the laggards so far this year, led the gains.

As for US equities, they have re-tested, but so far failed to break above, their post-Covid high in early June and their end-2019 level. The recent choppiness of markets is not that surprising given they are being buffeted by a whole series of conflicting forces.

Developments regarding Covid-19 as ever remain absolutely critical and it is a mixture of bad and good news at the moment. There have been reports of encouraging early trial results for a new treatment and potential vaccine but infection rates continue to climb in the US. Reopening has now been halted or reversed in states accounting for 80% of the population.

We are a long way away from a complete lockdown being re-imposed and these moves are not expected to throw the economy back into reverse. But they do emphasise that the economic recovery, not only in the US but also elsewhere, is likely to prove a ‘stuttering’ affair.

Indeed, the May GDP numbers in the UK undid some of the optimism which had been building recently. Rather than bouncing 5% m/m in May as had been expected, GDP rose a more meagre 1.8% and remains a massive 24.5% below its pre-Covid level in February.

Even in China, where the recovery is now well underway, there is room for some caution. GDP rose a larger than expected 11.5% q/q in the second quarter and regained all of its decline the previous quarter. However, the bounce back is being led by manufacturing and public sector investment, and the recovery in retail sales is proving much more hesitant.

China is not just a focus of attention at the moment because its economy is leading the global upturn but because of the increasing tensions with Hong Kong, the US and UK. UK telecoms companies have now been banned from using Huawei’s 5G equipment in the future and the US is talking of imposing restrictions on Tik Tok, the Chinese social media platform. While this escalation is not as yet a major problem, it is a potential source of market volatility and another, albeit as yet relatively small, unwelcome drag on the global economy.

Government support will be critical over coming months and longer if the global recovery is to be sustained. This week will be crucial in this respect for Europe and the US. The EU, at the time of writing, is still engaged in a marathon four-day summit, trying to reach an agreement on an economic recovery fund.  As is almost always the case, a messy compromise will probably end up being hammered out.

An agreement will be positive but the difficulty in reaching it does highlight the underlying tensions in the EU which have far from gone away with the departure of the UK. Meanwhile in the US, the Democrats and Republicans will this week be engaged in their own battle over extending the government support schemes which would otherwise come to an end this month.

Most of these tensions and uncertainties are not going away any time soon. Markets face a choppy period over the summer and autumn with equities remaining at risk of a correction.

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European trading firms begin coming to terms with the new normal

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European trading firms begin coming to terms with the new normal 2

By Terry Ewin, Vice President EMEA, IPC

In recent weeks, the phrase ‘never let a good crisis go to waste’ has received a large amount of usage. Management consultancies, industry associations and organisations, including the Organisation for Economic Co-operation and Development (OECD) have all used it in order to discuss how the current crisis, caused by the Coronavirus pandemic, presents an opportunity for new and worthwhile change.

The saying is also commonly used to indicate that the destruction and damage that is caused by a crisis gives organisations the chance to rebuild, and to do things that would not have previously been possible. This has the potential to impact financial trading firms, where projects that this time last year would not have made much sense now appearing to be as clear as day. In Europe, banks and brokers alike are beginning to think about what life will look like post-pandemic, and how their technology strategies may need changing.

We can think of three distinct phases when it comes to a crisis. Firstly, there is the emergency phase. This is followed by the transition period before we come to the post-crisis period.

Starting with the emergency phases, this is when firms are in critical crisis management mode. Plans are activated to ensure business continuity, and banks and brokers work to ensure critical functions can still take place so as to continue servicing their clients. With regards to the current crisis period, both large and small European banks and brokers were able to handle this phase relatively well, partly due to the fact that communications technology has reached the point where productive Work From Home (WFH) strategies are in place. For example, cloud-connectivity, in addition to the use of soft turrets for trading, has enabled traders from across the continent to keep working throughout lockdown. From our work with clients, we know that they were able to make a relatively smooth transition to WFH operations.

In relation to the current coronavirus crisis, we are in the second phase – the transition period. This is the stage when financial companies begin figuring out how best to manage the worst effects of the ongoing crisis, whilst planning longer-term changes for a post-crisis world. One thing to note with this phase, is that no one knows how long it will last. There is still so much we don’t know about this virus. As such, this has an impact on when it will be safe for businesses to operate in a similar way to how they were run in a pre-pandemic world. But with restrictions across Europe starting to be eased, there is an expectation that companies will start to slowly work their way towards more on-site trading. For example, banks are starting to look at hybrid operations, whereby traders come in a couple of times a week, and WFH for the rest of the week. This will result in fewer people in the office building, which makes it easier to practise social distancing. It also means that there is a continued reliance on the technology that enables people to WFH effectively.

Finally, we have the post-crisis period. In terms of the current crisis, this stage is very unlikely to occur until a vaccine has been developed and distributed to the masses. Although COVID-19 has caused mass economic disruption, many analysts are predicting a strong rebound once the medical pieces of the puzzles are put into place. It may not be entirely V-shaped, but the resiliency displayed by the financial markets thus far suggests that it will be healthy.

Currently, many European trading firms are taking what could be described as a two-pronged approach.

The first part of this consists of planning for the possibility of an extension to phase two. Medical experts have suggested that there could be some seasonality to the virus, with the threat of a second wave of COVID-19 cases in the Autumn meaning that the risk of new restrictions remains. If this comes to fruition, there would be a need for organisations to fine-tune their current WFH strategies and measures, and for them to take greater advantage of the cloud so as to power communications apps.

The second component consists of firms starting to think about the long-term needs of their trading systems. Simply put, they are preparing themselves for the third phase.

It is in this last sense, that the idea of never letting ‘a good crisis go to waste’ resonates most clearly.

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Currency movements and more: How Covid-19 has affected the financial markets

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Currency movements and more: How Covid-19 has affected the financial markets 3

The COVID-19 pandemic has been more than a health crisis. With people forced to stay indoors and all but the most essential services stopped for multiple weeks, economies have suffered and financial markets have crashed. Perhaps the most public and spectacular fall from grace during the early stages of the pandemic was oil. With travel bans in place around the world and no one filling up at the pumps, the price of oil plummeted.

Prior to global lockdowns, US oil prices were trading at $18 per barrel. By mid-April, the value had dropped to -$38. The crash was not only a shocking demonstrating of COVID-19’s impact but the first time crude oil’s price had fallen below zero. A rebound was inevitable, and many traders were quick to take long positions, which meant futures prices remained high. However, with stocks piling up and demand sinking, trading prices suffered. Unsurprisingly, it’s not the only market that’s taken a knock since COVID-19 struck.

Financial Markets Fluctuate During Pandemic

Shares in major companies have dipped. The Institute for Fiscal Studies compiled a round-up of price movements for industries listed by the London Stock Exchange. Tourism and Leisure have seen share prices drop by more than 20%. Major airlines, including BA, EasyJet and Ryanair have all been forced to make redundancies in the wake of falling share prices. The automotive industry has also taken a knock, as have retailers, mining and the media. However, in among the dark, there have been some patches of light.

The forex market has been a mixed bag. As it always is, the US dollar has remained a strong investment option. With emerging markets feeling the strain, traders have poured their money into traditionally strong currency pairs like EUR/USD. Looking at the data, IG’s EUR/USD price charts show a sharp drop in mid-March from 1.14 to 1.07. However, after the initial shock of COVID-19 lockdowns, the currency pair has steadily increased in value back up to 1.12 (June 25, 2020). The dominance of the dollar has been seen as a cause for concern among some financial experts. In essence, the crisis has highlighted the world’s reliance on it.

Currency Movements Divide Economies

Currency movements and more: How Covid-19 has affected the financial markets 4

In any walk of life, a single point of authority is dangerous. Indeed, if reliance turns into overreliance, it can cause a supply issue (not enough dollars to go around. More significantly, it could cause a power shift that gives the US too much control over economic policies in other countries. Fortunately, other currencies have performed well during the pandemic. Alongside USD and EUR, the GBP has also shown a degree of strength throughout the crisis. However, these positive movements haven’t been shared by all currencies.

The South African rand took a 32% hit during the early stages of the pandemic, while the Mexican peso and Brazilian real dropped 24% and 23%, respectively. Like the forex market, other sectors have experienced contrasting fortunes. Yes, shares in airlines and automotive manufacturers have fallen, but food and drug retailers have seen stocks rise. In fact, at one point, orange juice was the top performer across multiple indices. With the health benefits of vitamin C a hot topic, futures prices for orange juice jump up by 30%. The sudden surge had analysts predicting 60% gains as we move into a post-COVID-19 world.

Looking Towards the Future through Financial Markets

The future is always unknown and, due to COVID-19, it’s more uncertain than ever. However, the financial markets do provide an indication of how things may change. The performance of USD and EUR in the forex markets suggest there could be a lot more trade deals negotiated between the US and Europe. The surge in orange juice futures suggest that health and wellness will become a much more important part of our lives. Even though it was already a multi-billion-dollar industry, the realisation that a virus can alter the face of humanity has given more people pause for thought.

Then, of course, there’s the move towards remote working and socially distance entertainment. From Zoom to Slack, more people will be working and playing from home in the coming years. The world is always changing, but recent have events have made us appreciate this fact more than ever. The financial markets aren’t a crystal ball, but they can offer a glimpse into what we can expect in a post-COVID-19 world.

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