Interbank market

[mathewhyden]

Does anyone know about the Interbank market and its workings? Can you please tell me about it?

[dzug]

Yes I know all about it.

No I won't tell you - the company you are spamming for will tell you all that.

[ameliajennif]

Yes, most certainly, I will. The Interbank is involved with selling and buying of foreign currencies amongst the commercial banks. Spot and Forward transactions are the two types of transactions that are referred to in the Interbank. The buyers and sellers� bank accounts are duly credited and debited for the involved amount in that transaction on the settlement date. The delivery is received or made in the country that is issuing the currency. If a bank purchases a currency for a customer who does not have an account in the issuing country, the purchase is allowed if the bank acting on the customer�s behalf has an agent or an account in that country. Spot transactions take place often and account for more than 50% of the trades in the Interbank market. It is a quotation market and is like the Over the Counter or OTC. You can find Spot quotes easily in a Futures type quote system. For more detail, visit: http://www.ismarkets.com

[sara3]

St Albans market.. really, it's lovely!

(and I'm not even getting paid to say that)