Bitcoin: A digital currency created to use online. It is not controlled by any central bank. It is operated through a software.
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Bond: A bond is a debt investment in which an investor loans money to an entity (typically corporate or governmental) which borrows the funds for a defined period of time at a variable or fixed interest rate. Bonds are used by companies, municipalities, states and sovereign governments to raise money and finance a variety of projects and activities.
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Central Bank: The bank that is authorized by the Government to officially manage currency. The Reserve Bank of India is the central bank in India.
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Convertibility: An agreement between different currencies or currency systems setting a ratio for exchanges between their units.
Denomination: The value of a particular coin or banknote.
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Demonetisation: Cancelling the value of the currency by a central bank (upon which people are asked to deposit the currency in banks and exchange for new notes).
Devaluation: An official reduction in the value of money announced by the Government due to which the foreign currency becomes dearer.
EFT: Electronic Fund Transfer which facilitates transfer of money through banks. In In India it is known as NEFT.
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Foreign Exchange: A system or an institution by which money of a country is exchanged against money of another country. In short ‘Forex’.
Legal tender: Money backed by a Government.
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Mark Up: Additional increase on the price or exchange rate of a currency. This is how banks and FX providers typically make a profit when dealing in foreign exchange.
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Mint: The official press where currency notes are printed and coins are made.
SWIFT: The Society for Worldwide Interbank Financial Telecommunication
A cooperative organization that promotes standardization for financial transactions.
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Black Money: The wealth or money stored through evasion of taxes. (This is how it is understood in India.) But elsewhere it is the money paid to someone to harm a third person.
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Securities: Securities are a form of ownership that are traded on a secondary market. Securities allow one to own the underlying asset without taking possession.