Reciprocal Currency

Reciprocal Currency

In foreign exchange, a currency whose exchange rate is quoted in U.S. dollars per unit of the foreign currency. One quotes a reciprocal currency by stating the dollars needed to buy one unit of that currency. That is, a reciprocal currency is a currency quoted in European terms.
References in periodicals archive ?
20 an agreement on a reciprocal currency swap scheme with the Bank of England.
The other model that seeks to displace traditional consumer remittance service providers uses peer-to-peer algorithms to match individuals with reciprocal currency needs across borders.
Among the lucrative commercial agreements signed, the most anticipated reciprocal currency deal was the most significant.
China and Canada inked a reciprocal currency deal that is anticipated to boost exports dramatically.
Additionally, income from reciprocal currency arrangements with other central banks and investments denominated in foreign currencies totaled $2.
While very close monetary integration seems unlikely for the East Asian countries, one very important dimension of their monetary relationship is a set of reciprocal currency arrangements (so-called bilateral swap lines) known as the Chaing Mai Initiative that makes use of the region's substantial dollar reserves.
The Bank of Canada's move is part of a worldwide effort among central banks to expand, by USD330bn, reciprocal currency swap arrangements to boost US dollar availability, The National Post said in a report.
The Fed also said it is establishing reciprocal currency swap lines worth $20 billion with the ECB and worth $4.
Reciprocal currency arrangements, September 28, 2001 Millions of dollars Institution Amount of Outstanding, facility Sept.
official reciprocal currency arrangements with foreign monetary authorities:(3) Foreign drawings, or -3,500 .
The Federal Reserve's policymaking arm, the Federal Open Market Committee, has authorized new temporary reciprocal currency arrangements, sometimes called foreign currency liquidity swap lines, with the Bank of England, the European Central Bank, the Bank of Japan, and the Swiss National Bank.
Reciprocal currency arrangements, June 30, 2001 Millions of dollars Amount of Outstanding, Institution facility June 30, 2001 Reciprocal currency arrangements Bank of Canada 2,000 .