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Username: Andrew

Rating:
Guru Stars

Asked to: Jacob Rogers

Date Created: 25 Apr 2017
Category 17
Tag Financial
Question Please give the definition of 'Exotic Currency'.
Advice from Guru
Hi Andrew,

A foreign exchange term for a thinly traded currency. Exotic currencies are illiquid, lack market depth and trade at low volumes. Trading an exotic currency can be expensive, as the bid-ask spread is usually large.

Exotics are not considered major currencies because they are not easily traded in a standard brokerage account. Major currencies include the U.S. dollar, Euro, Canadian dollar and Swiss franc. Examples of exotic currencies include the Thai baht, Uruguay peso or Iraqi dinari.

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