More From SWFloridaGuy
- We’ve been witnessing the IQD appreciate for quite some time now
- I remain very confident that Iraq is headed in the right direction
- Iraq’s currency will eventually appreciate
- Central Bank begins next month, the application of measures to reduce exchange rate volatility.
- More from SWFloridaGuy »
1-3-13 SWFloridaGuy: I don’t understand why XXXXX and friends keep telling everyone to keep an eye on FOREX. The Netdania and Yahoo Finance type sites are not FOREX brokers/marketmakers. They are just free web based charting tools and the numbers they use are a poor proxy for volume.
The frequent anomalies often coincide with trading session openings (US, London, Asia), and the spikes are directly related to the volatility of the USD. Netdania is a hybrid feed of data and the spikes also could represent an arbitrary spread depending on where their source data comes from. The IQD is not currently being traded and always reverts back to the actual value.
FOREX trading is done through a broker or market maker. Traders choose a currency pair that they expect to change in value and place a trade. When you close your trade the broker closes the position on the Interbank Market and credits your account with the loss or gain.
If someone wants to determine the IQD rate in correlation to another form of currency, they can go about this procedure in a variety of ways. Upon completing the entry procedure the results of the IQD exchange rate (with regard to the respective currency) will show the fluctuations, but the Iraqi Dinar is not currently traded on the FOREX Market.