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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

Trading

Barclays announces new trade finance platform for corporate clients

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Barclays announces new trade finance platform for corporate clients 1

Barclays Corporate Banking has today announced that it is working with CGI to implement the CGI Trade360 platform. This new platform will provide an industry leading end-to-end global trade finance solution for Barclays clients in the UK and around the world.

With the CGI Trade360 platform, Barclays will provide clients with greater connectivity and visibility into their supply chains, allowing them to optimise working capital efficiency, funding and risk mitigation. By utilising cloud based functionality for corporate banking clients, Barclays will also be able to offer a leading client user experience through easy access and real-time integration to essential information, combined with the latest trade solutions as the industry-wide shift to digitisation continues to accelerate.

This move underpins Barclays commitment to supporting the trade and working capital needs of their clients and reinforces a commitment to innovation that has been central to the bank for more than 300 years.

James Binns, Global Head of Trade & Working Capital at Barclays, said: “We are delighted to announce our move to the CGI Trade360 platform and to have started the implementation process. We have a longstanding partnership with CGI, and the CGI Trade360 platform will mean we can continue delivering the best possible trade solutions and service to our clients for many years to come.”

Neil Sadler, Senior Vice President, UK Financial Services, at CGI, said: “Having worked closely with Barclays for the last 30 years, we knew we were in an excellent position to enhance their systems. Not only do we have a history with them and understand how they work, but part of the CGI Trade360 solution includes a proof of concept phase, which is essentially seven weeks of meetings and workshops with employees across the globe to guarantee the product’s efficiency and answer all queries. We’re delighted that Barclays chose to continue working with us and look forward to supporting them over the coming years.”

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Trading

What’s the current deal with commodities trading?

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What’s the current deal with commodities trading? 2

By Sylvain Thieullent, CEO of Horizon Software

The London Metal Exchange (LME) trading ring has been the noisy home of metals traders buying and selling for over a hundred years. It’s the world’s oldest and largest metals market and is home to the last open outcry trading floor. Recently however, the age-old trading ring, though has been closed during the pandemic and, just a few weeks ago, the LME announced that it will remain so for another six months and that it is taking steps to improve its electronic trading. This news fits in with a growing narrative in commodities about a shift to electronic trading that has been bubbling away under the surface.

Something certainly is stirring in commodities. The crisis has affected different raw materials differently: a weakening dollar and rising inflation risks bode well for some commodities with precious metals being very attractive, as seen by gold reaching all-time highs. Oil on the other hand has had a tough year and experienced record lows from the Saudi-Russia pricing war. It has been a turbulent year, and now prices look set to soar. While a recent analyst report from Goldman Sachs predicts a bullish market in commodities for the year ahead, with the firm forecasting that it’s commodities index will surge 28%, led by energy (43%) and precious metals (18%).

Increasingly, therefore, it seems that 2020 is turning out to be a watershed moment for commodities, and it’s likely that the years ahead will bring about significant transformation. And whilst this evolution might have been forced in part by coronavirus, these changes have been building up for some time. Commodities are one of the last assets to embrace electronic trading; FX was the first to take the plunge in the 90s, and since then equities and bonds have integrated technology into their infrastructure, which has steadily become more advanced.

The slow uptake in commodities can be explained by several truths: the volumes are smaller and there is less liquidity, and the instruments are generally less exotic, essentially meaning it has not been essential for them to develop such technology – at least not until now. This means that, for the most part, the technology in commodities trading is a bit outdated. But that is changing. Commodities trading is on the cusp of taking steps towards the levels of sophistication in trading as we see in other asset classes, with automated and algo trading becoming ever prominent.

Yet, as commodities trading institutions are upgrading their systems, they will be beginning to discover the extent of the job at hand. It’s no easy task to upgrade how an entire trading community operates so there’s lots to be done across these massive organisations. It requires a massive technology overhaul, and exchanges and trading firms alike must be cautious in the way they proceed, carefully establishing a holistic, step-by-step implementation strategy, preferably with an agile, V-model approach.

The workflow needs to be upgraded at every stage to ensure a smooth end-to-end trading experience. So, in replacement of the infamous ring, these players will be looking to transform key elements of their trading infrastructure, including re-engineering of matching engines and improving communications with clearing houses.

However, these changes extend beyond technology. For commodities players to make a success of the transformation in their community, exchanges need to have highly skilled technology and change the very culture of trading. All of which is currently being done against a backdrop of lockdown, which makes things much more difficult and can slow down implementation.

What is clear is that coronavirus has definitely acted as a catalyst for a reformation in commodities. It is a foreshadowing of what lies ahead for commodities trading infrastructure because, a few years down the line, commodities trading could well be very different to how it is now, and the trading ring consigned to history.

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Trading

Afreximbank’s African Commodity Index declines moderately in Q3-2020

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Afreximbank’s African Commodity Index declines moderately in Q3-2020 3

African Export-Import Bank (Afreximbank) has released the Afreximbank African Commodity Index (AACI) for Q3-2020. The AACI is a trade-weighted index designed to track the price performance of 13 different commodities of interest to Africa and the Bank on a quarterly basis. In its Q3-2020 reading, the composite index fell marginally by 1% quarter-on-quarter (q/q), mainly on account of a pull-back in the energy sub-index. In comparison, the agricultural commodities sub-index rose to become the top performer in the quarter, outstripping gains in base and precious metals.

The recurrence of adverse commodity terms of trade shocks has been the bane of African economies, and in tracking the movements in commodity prices the AACI highlights areas requiring pre-emptive measures by the Bank, its key stakeholders and policymakers in its member countries, as well as global institutions interested in the African market, to effectively mitigate risks associated with commodity price volatility.

An overview of the AACI for Q3-2020 indicates that on a quarterly basis

  • The energy sub-index fell by 8% due largely to a sharp drop in oil prices as Chinese demand waned and Saudi Arabia cut its pricing;
  • The agricultural commodities sub-index rose 13% due in part to suboptimal weather conditions in major producing countries. But within that index
    • Sugar prices gained on expectations of firm import demand from China and fears that Thailand’s crop could shrink in 2021 following a drought;
    • Cocoa futures enjoyed a pre-election premium in Ghana and Côte d’Ivoire, despite the looming risk of bumper harvests in the 2020/21 season and the decline in the price of cocoa butter;
    • Cotton rose to its highest level since February 2020 due to the threat of storm Sally on the US cotton harvest, coupled with poor field conditions in the US;
    • Coffee rose 10% as La Nina weather conditions in Vietnam, the world’s largest producer of Robusta coffee, raised the possibility of a shortage in exports.
  • Base metals sub-index rose 9% due to several factors including ongoing supply concerns for copper in Chile and Peru and strong demand in China, especially as the State Grid boosted spending to improve the power network;
  • Precious metals sub-index, the best performer year-to-date, rose 7% in the quarter as the demand for haven bullion continued in the face of persistent economic challenges triggered by COVID-19 and heightening geopolitical tensions. In addition, Gold enjoyed record inflows into gold-backed exchange traded funds (ETFs) which offset major weaknesses in jewellery demand.

Regarding the outlook for commodity prices, the AACI highlights the generally conservative market sentiment with consensus forecasts predicting prices to stay within a tight range in the near term with the exception of Crude oil, Coffee, Crude Palm Oil, Cobalt and Sugar.

Dr Hippolyte Fofack, Chief Economist at Afreximbank, said:

“Commodity prices in Q3-2020 have largely been impacted by COVID-19. The pandemic has exposed global demand shifts that have seen the oil industry incur backlogs and agricultural commodity prices dwindle in the first half of the year. The outlook for 2021 is positive however conservative the markets still are. We hope to see an increase in global demand within Q1 and Q2 – 2021 buoyed by the relaxation of most COVID-19 disruptions and restrictions.’’

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